Dubai’s property market has attracted a record AED 517 bn in property sales year-to-date until 27 December, a 28.9% increase from 2023, according to a report by real estate brokerage firm Fajar Realty, citing Dubai Land Department data. The market saw a record 178.9k sales during the period, a 38% y-o-y increase.

Including mortgages and grants, total transaction volume rose 32% y-o-y to 223.9k, with a combined value of AED 753.6 bn, up 35.8% y-o-y, according to the report. Real Estate Mortgages reached AED 185.8 bn across 35.7k transactions, while grants totaled AED 50.9 bn from 9.3k transactions.

4Q saw the most activity during the year, achieving the highest-ever quarterly sales of AED 142.7 bn across 48.6k transactions. Monthly sales throughout the year averaged between AED 35-61 bn, with October setting a record high at AED 61.5 bn.

LOOKING AHEAD- Dubai’s real estate market is expected to grow by 10-15% in 2025, with sales approaching the AED 600 bn mark and total transactions potentially exceeding AED 850 bn.

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Source: Enterprises

Date: 02nd  January,2025