Dubai Real Estate Hits All-Time High: $38.6 Billion in Q3 Sales Sets New Benchmark

  • Record Sales Achieved: Dubai’s property market achieved a historic milestone in Q3 2024 with AED141.9 billion ($38.6 billion) in sales, a 30.1% increase year-on-year and surpassing the previous record set in Q2 2024.

  • Strong Transaction Volume: The quarter saw a total of 50,423 transactions, marking a 37.9% increase in volume from the previous year and a 16.6% rise from the prior quarter, indicating robust demand.

  • Dominance of Apartment Sales: Apartments accounted for 77% of transactions with 39,058 units sold, reflecting a 43.9% year-on-year increase, while villa and land plot sales also showed significant growth.

  • Appreciation in Property Values: The median price per square foot rose to AED1,511 from AED1,017 in Q3 2021, demonstrating consistent value appreciation and reinforcing Dubai’s status as an attractive investment location.

  • Continuous Market Growth: Over the past five years, Dubai’s real estate market has surged from AED18.1 billion in sales in Q3 2020 to its peak current figures, showcasing resilience and recovery post-pandemic and sustained investor confidence.

Dubai’s real estate sector has once again demonstrated its resilience and appeal, achieving an unprecedented milestone in the third quarter of 2024. The emirate’s property market recorded a staggering AED141.9 billion ($38.6 billion) in total sales, setting a new all-time high for a single quarter. This remarkable performance not only surpassed the previous record of AED124.07 billion set in Q2 2024 but also represented a substantial 30.1% year-on-year increase in value.

The latest market update, provided by fäm Properties, reveals that the number of transactions also saw a significant uptick. With 50,423 overall sales transactions in Q3, the market experienced a 37.9% year-on-year increase in volume and a 16.6% rise compared to the previous quarter. This surge in both value and volume underscores the robust health of Dubai’s property sector and its continued attraction to investors and homebuyers alike.

Diving deeper into the numbers, the apartment segment dominated the market, accounting for 77% of total Q3 transactions. An impressive 39,058 apartment sales, valued at AED70.5 billion, marked a 43.9% increase in volume compared to the same period last year. The villa market also showed strong performance, with 8,156 units sold for AED39.2 billion, reflecting a 16.6% year-on-year volume increase and an 18.4% rise from the previous quarter.

One of the most telling indicators of the market’s strength is the steady appreciation in property values. The median price per square foot reached AED1,511 in Q3 2024, a significant jump from AED1,017 in Q3 2021, showcasing the consistent upward trajectory of Dubai’s real estate market over the past few years.

The land market also experienced a boom, with 2,102 plots sold for AED29.9 billion, representing a remarkable 45.9% increase in volume compared to Q3 2023. This surge in land sales points to continued development and expansion in the emirate, as investors and developers capitalize on Dubai’s growth potential.

Firas Al Msaddi, CEO of fäm Properties, emphasized the significance of these figures, stating, “The data once again highlights the resilience of Dubai’s real estate market and the consistent growth we’ve witnessed in recent years, which continues to bolster investor confidence.” He added that this ongoing upward trend reinforces Dubai’s position as a premier destination for real estate investment, attracting growing interest from both global and regional investors.

The market’s performance is particularly impressive when viewed in the context of its growth over the past five years. From a modest AED18.1 billion in sales during Q3 2020, the market has experienced exponential growth, reaching its current peak of AED141.9 billion in Q3 2024. This trajectory reflects not only the recovery from the global pandemic but also Dubai’s success in positioning itself as a global real estate hotspot.

As Dubai continues to evolve and expand its offerings, from luxury developments to affordable housing options, the real estate sector remains a key pillar of the emirate’s economic growth. With projects catering to various segments of the market and ongoing infrastructure developments, Dubai is well-positioned to maintain its appeal to a diverse range of investors and residents, promising continued dynamism in its real estate landscape.


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The content you provided pertains to Dubai’s real estate market performance and does not contain specific details about funds, investors, startups, founders, or fundraising series. However, it discusses the overall property market dynamics, transaction volumes, and trends in the emirate’s real estate. Here’s a summary of the information contained:

Summary:

  • Market Performance: Dubai’s property market recorded sales of AED141.9 billion ($38.6 billion) in Q3 2024, a 30.1% year-on-year increase, with 50,423 sales transactions.
  • Dominant Segments:
    • Apartments: 77% of transactions; 39,058 apartments sold for AED70.5 billion.
    • Villas: 8,156 sold for AED39.2 billion.
    • Land: 2,102 plots sold for AED29.9 billion.
  • Median Price: The price per square foot reached AED1,511.
  • Growth: The market has grown from AED18.1 billion in sales during Q3 2020 to the current peak in Q3 2024.
  • CEO Insight: Firas Al Msaddi, CEO of fäm Properties, highlighted the resilience and growth potential of Dubai’s real estate sector.

No Specific Information Included:

  • Funds: Not mentioned.
  • Investors: Not detailed.
  • Startups: None identified.
  • Founders: Only Firas Al Msaddi is mentioned as a significant figure related to fäm Properties.
  • Fundraise Series: No fundraising details are provided.

If you have specific information that relates to funds or investors within the startup ecosystem in Dubai or any particular startups you’d like to know about, please provide that, and I can assist you further!

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