Dubai real estate: Apartments dominate as Q3 transactions hit $31.8bn
Dubai’s real estate sector sees a significant increase in transactions as the majority of newly delivered properties are apartments
Dubai’s real estate sector recorded more than 47,300 transactions worth approximately AED116.8 billion (US$31.8 billion) in Q3, according to Land Sterling.
Approximately 7,000 new residential units were delivered in Dubai in Q3 2024, with apartments accounting for 84% of completions.
Q3 Dubai Real Estate Report
The highest number of deliveries took place at Jumeirah Village Circle (JVC), closely followed by Mohammed Bin Rashid (MBR) City and Dubai Harbour.
The report also noted a trend towards larger units, with an increase in the number of two- and three-bedroom units completed.
Off-plan sales dominated, accounting for 71% of transaction volumes, indicating a steady influx of new projects and flexible payment plans that are attracting investors.
The Q3 2024 report highlights five main areas in terms of transaction volume and value. Jumeirah Village Circle (JVC) led in transaction volume, followed by Dubai Hills Estate, Business Bay, Dubai South and Sobha Hartland 2.
