In August, Dubai’s real estate market saw property sales totaling Dh51.1 billion, marking a 7.9% increase from last year, with transactions rising 15.4% YoY to 18,678.
According to fäm Properties, apartment sales in August reached Dh30.2 billion, a 29.2% volume increase to 15,900 compared to last year.
DXBinteract data shows commercial sales reached Dh1.2 billion in August, up 20.4% in volume YoY to 442, while 392 plot sales worth Dh8.9 billion rose 7.4% in volume compared to last year.
Villa sales at Dh10.9 billion were 38.1% down in volume to 1,944 YoY, but the average property price per sq ft rose 15.2% to Dh1,720. August’s property deals were the third-highest this year after 20,322 in July and 18,693 in May.
“August’s figures show the enduring strength of Dubai’s real estate market, even in summer,” said Firas Al Msaddi, CEO of fäm Properties. “Dubai’s growth strengthens its position as a prime property investment destination, attracting global interest while local demand remains strong.”
Firas Al Msaddi, CEO of fäm Properties
Over recent years, Dubai’s August property sales rose from Dh4.7 billion (2,500 transactions) in 2020 to Dh15 billion (5,800) in 2021, Dh23.4 billion (9,400) in 2022, Dh33.57 billion (11,900) in 2023, and Dh47.4 billion (16,200) last year.
During this period, the average property price per sq ft increased from Dh826 in 2020 to Dh1,011 in 2021, Dh1,143 in 2022, Dh1,410 in 2023, and Dh1,494 last year.
The priciest property sold in August was a luxury villa on Palm Jumeirah at Dh161 million, while the costliest apartment was Dh100 million at Selicon Star 2 Nadd Hessa.
