Image: Getty Images/ For illustrative purposes
Dubai’s real estate market recorded Dhs51.1bn ($13.9bn) in property sales in August, a 7.9 per cent increase from a year earlier, with transactions rising 15.4 per cent year-on-year to 18,678, according to data released by real estate consultancy, fäm Properties.
Apartment sales drove activity, reaching Dhs30.2bn as volumes rose 29.2 per cent to 15,900 units.
Commercial sales hit Dhs1.2bn, up 20.4 per cent year-on-year with 442 transactions, while 392 plot sales worth Dhs8.9bn represented a 7.4 per cent rise in volume.
Villa sales fell sharply, with volumes down 38.1 per cent to 1,944 units worth Dhs10.9bn.
Despite the drop, the average price per square foot jumped 15.2 per cent to Dhs1,720.
“The overall figures for August once again reflect the consistent strength and resilience of Dubai’s real estate market, even through the summer months,” said Firas Al Msaddi, CEO of fäm Properties. “The city’s sustained growth is cementing its position as a leading destination for property investment, drawing increasing international attention while domestic and regional demand stays strong.”
Dubai property sales in August have climbed steadily in recent years from Dhs4.7bnin 2020 to Dhs47.4bn in 2024.
Average prices per square foot nearly doubled in the same period to Dhs1,720.
The top-performing areas by value last month included Business Bay (Dhs4.1bn), Jumeirah Village Circle (Dhs2.1bn), Jebel Ali First (Dhs 2.6bn), Dubai Investment Park Second (Dhs2.5bn) and Wadi Al Safa 5 (Dhs1.3bn).
The priciest property sold was a Palm Jumeirah villa at Dhs161m, while the most expensive apartment, at Selicon Star 2 Nadd Hessa, sold for Dhs100m.
Properties worth Dhs1–2 m accounted for nearly 40 per cent of August’s deals, with first sales from developers dominating 74 per cent of volumes.
Among first-sale projects, Binghatti Skyrise led apartment transactions with Dhs956 m in sales, while Grand Polo – Selvara 2 topped villa projects at Dhs683.5 m.
