Dubai: Dubai’s property market hit another all-time high in October 2024, with almost 20,460 sales transactions, according to new data from leading real estate intelligence authority, Property Monitor.  October sales, which took monthly transactions to over 20,000 for the first time in history, were 13% up on September figures, the company said.

Early findings from Property Monitor’s October report on Dubai’s real estate sector also indicate that nearly three quarters (73%) of transactions were for off plan or under-construction properties.  The residential sector accounted for more almost 95% of sales, with over 19,400 transactions.

Zhann Jochinke, Chief Operating Officer, Property Monitor, said: “After a record-breaking September, the Dubai real estate sector reached another new high in October. Once again, off-plan and under-construction properties accounted for the majority of sales, highlighting continued investor confidence in the sector. With reduced interest rates, a plethora of new projects on the way and more people choosing to buy rather than rent, Dubai’s property market shows no sign of slowing down.”

The most expensive transaction for a completed property in October was for a villa at Jumeirah Bay, which fetched AED175 million.  Meanwhile, a villa at EOME on Palm Jumeirah’s western crescent topped the off-plan sales price, at AED170.5 million, according to Property Monitor.

Emaar, DAMAC and Sobha secured the largest number of off-plan sales in October. Emaar took the biggest share (16.3%) with 2,053 sales; DAMAC accounted for 14.8% with 1,863 registrations and Sobha 11.6% with 1,463.

The full Property Monitor October report will be published later this month.

Download and sign up to receive Property Monitor’s Monthly Market Report here. For more information on Property Monitor, visit the website.

Property Monitor is part of the Cavendish Maxwell Group.

About Property Monitor (Home - Property Monitor)

Property Monitor is the UAE’s leading real estate technology and market intelligence provider, offering solutions that empower our clients in the real estate ecosystem to make better and faster decisions through data-driven insights.

Our product suite empowers lenders, surveyors, developers, investors, and property professionals through authoritative data, analytics and insights, enabling fast, cost-effective and informed property-related decisions. Our advanced solutions integrate with existing systems or can be used as stand-alone modules in the areas of automation, valuation, risk agility and lead generation.

Through Property Monitor’s products, market stakeholders can directly access real-time, transparent and accurate intelligence, unmatched anywhere else in the region. We source the widest data set from public and private sources, including exclusive relationships with the UAE’s top valuation companies, developers, and a growing network of reputable real estate brokers.

Media contact:
Rebecca Rees
Founder, Rebecomms
rebecca@rebecomms.com