April 2024 Dubai Real Estate Market Highlights

Dubai's Real Estate Sector Reaches New Heights

Dubai's real estate sector has achieved its highest monthly performance ever, with sales amounting to AED 32.4 billion in April 2024. This marks an approximate 22.4% growth compared to the AED 26.3 billion in sales recorded in April 2023, according to a report by Emirates Today based on data from Dubai's Land Department.

The data shows that there were 11,703 property sales in April 2024, an increase of 45.4% in the number of sales compared to April 2023, which saw 7,980 sales. Additionally, 48,200 property sales were recorded from January to the end of April 2024, compared to 38,927 sales during the same period last year, reflecting a growth of 24%. These record numbers continue the ongoing boom in Dubai's real estate sector over the past years, following the exceptional growth in 2023, which saw real estate sales reach AED 401 billion, the highest ever in the history of the emirate's property market.

The sales during the first quarter of this year accounted for about 35% of the total sales value recorded in 2023. Dubai's real estate market saw significant activity in both apartments and villas, with a total of 9,449 apartments sold, generating AED 17.7 billion in sales, a 53% increase compared to April 2023. Villa sales comprised 1,487 transactions, amounting to AED 7 billion in sales value, marking a growth of 12.9% over the same month last year. These figures indicate a strong demand in both segments, with apartments showing particularly robust growth.