{"id":1723,"date":"2024-06-03T12:52:00","date_gmt":"2024-06-03T10:52:00","guid":{"rendered":"https:\/\/dubairealestate.net\/?p=1723"},"modified":"2026-07-02T11:38:45","modified_gmt":"2026-07-02T09:38:45","slug":"may-2024","status":"publish","type":"post","link":"https:\/\/dubairealestate.net\/en\/chiffres-immobiliers\/mai-2024\/","title":{"rendered":"Dubai property figures: May 2024"},"content":{"rendered":"

In May 2024, the total value of property transactions in Dubai reached 62,005,176,926 AED<\/strong>, recording a remarkable increase of 58 % compared with the previous month and 37 % compared with May 2023. This significant rise reflects the strength and growing momentum of the property market in Dubai.<\/p>\n\n\n\n

Several factors are contributing to this exceptional growth, including rising demand for residential and commercial properties, favourable government initiatives, and massive foreign investment attracted by the lucrative opportunities offered by Dubai\u2019s property market.<\/p>\n\n\n\n

The city continues to establish itself as a global hub for property investment, benefiting from world-class infrastructure, political and economic stability, and a regulatory framework favourable to investors. This impressive rise in May 2024 also demonstrates the resilience of Dubai\u2019s property market in the face of global economic challenges, highlighting the growing confidence of both local and international investors and buyers.<\/p>\n\n\n\n

With ambitious development projects and sustained demand, Dubai\u2019s property market is well placed to continue growing and offer attractive long-term returns.<\/p>\n\n\n\n

Overview of property transactions<\/h2>\n\n\n\n
\n\n\n\n

In May 2024, the value of property transactions in Dubai peaked at 62,005,176,926 AED<\/strong>, which represents a significant increase compared with the 39,302,270,884 AED<\/strong> recorded in April 2024 and at the 45,306,441,006 AED<\/strong> May 2023. This impressive growth highlights the strength and continued expansion of the property market in Dubai.<\/p>\n\n\n\n

This positive momentum is fuelled by growing demand for property investment in the region, attracting local and international buyers seeking lucrative opportunities. Dubai\u2019s property market continues to be a mainstay of the emirate\u2019s economy, reinforcing its position as a destination of choice for property investors.<\/p>\n\n\n\n

Market focus at strategic level<\/h2>\n\n\n\n
\n\n\n\n

Total value: 23,778,953,498 AED<\/strong><\/h4>\n\n\n\n
    \n
  • Flats: 19,068,233,560 AED (80,19%)<\/strong><\/li>\n\n\n\n
  • Villas: 3,933,529,815 AED (16,54%)<\/strong><\/li>\n\n\n\n
  • Flats and Hotel Rooms: 312 783 113 AED (1,32%)<\/strong><\/li>\n\n\n\n
  • Retail and Office Space: 464,407,010 AED (1,95%)<\/strong><\/li>\n<\/ul>\n\n\n\n

    Off-plan transactions in May 2024 accounted for a significant proportion of the total value of property transactions, reaching almost 24 billion AED<\/strong> (38.35 % of the total transaction value).
    This sector is mainly dominated by flat sales, which account for more than 80 % of the total value of off-plan transactions. Villas follow with a significant share, whilst flats and hotel rooms, as well as retail premises and offices, make up the rest of this market segment.<\/p>\n\n\n\n

    This prevalence of flats can be attributed to strong demand for affordable, modern homes that meet the needs of Dubai\u2019s growing and diverse population. Furthermore, off-plan development projects often offer flexible payment terms and attractive prices, thereby attracting a wide range of investors.<\/p>\n\n\n\n

    Top 10 districts by transaction value: (AED million)<\/h3>\n\n\n\n
    \"\"<\/figure>\n\n\n\n

    Top 10 by number of transactions:<\/h3>\n\n\n\n
    \"\"<\/figure>\n\n\n\n

    Focus on the secondary market<\/h2>\n\n\n\n
    \n\n\n\n

    Total value: 16,273,528,841 AED<\/strong><\/h4>\n\n\n\n
      \n
    • Flats: 10,354,883,215 AED (63,63%)<\/strong><\/li>\n\n\n\n
    • Villas: 2,843,781,596 AED (17,47%)<\/strong><\/li>\n\n\n\n
    • Flats and hotel rooms: 1,939,030,183 AED (11,92%)<\/strong><\/li>\n\n\n\n
    • Retail and Office Space: 1,135,833,847 AED (6,98%)<\/strong><\/li>\n<\/ul>\n\n\n\n

      Loan transactions also performed strongly in May 2024, contributing more than 16 billion AED<\/strong> (26.25 % of the total value of transactions for the month). Flats dominated this segment, accounting for over 60 % of the total value of completed transactions, followed by villas, which accounted for nearly 18 %. Flats and hotel rooms, as well as retail premises and offices, also played a significant role in this sector.<\/p>\n\n\n\n

      This breakdown indicates strong demand for properties that are available immediately, which are often perceived by buyers as less risky investments. Buyers and investors are attracted by the possibility of moving into or letting ready-to-occupy properties straight away, thereby ensuring a quicker return on investment. Furthermore, the hotel and office sectors are experiencing growing demand due to the rise in tourism and the expansion of businesses in Dubai.<\/p>\n\n\n\n

      Top 10 districts by transaction value: (AED million)<\/h3>\n\n\n\n
      \"\"\/<\/figure>\n\n\n\n

      Top 10 by number of transactions:<\/h3>\n\n\n\n
      \"\"\/<\/figure>\n\n\n\n

      Conclusion:<\/h2>\n\n\n\n
      \n\n\n\n

      The figures for May 2024 reveal a robust and rapidly expanding property market in Dubai, with significant contributions from off-plan and ready-to-move-in transactions, as well as land transactions. The marked increases compared with previous months and the previous year highlight the dynamism and appeal of Dubai\u2019s property market.<\/p>\n\n\n\n

      This growth is being driven by increased investor confidence and sustained demand for diversified property assets. The market continues to benefit from favourable policies, ambitious infrastructure projects and a growing economy.<\/p>\n\n\n\n

      The combination of these factors is attracting investors from around the world, thereby strengthening Dubai\u2019s position as one of the leading destinations for property investment. In short, Dubai\u2019s property market in May 2024 is in excellent health and promises continued growth in the months and years ahead.<\/p>","protected":false},"excerpt":{"rendered":"

      En mai 2024, la valeur totale des transactions immobili\u00e8res \u00e0 Duba\u00ef a atteint 62 005 176 926 AED, enregistrant une hausse remarquable de 58 % par rapport au mois pr\u00e9c\u00e9dent et de 37 % par rapport \u00e0 mai 2023. Cette augmentation significative refl\u00e8te la robustesse et la dynamique croissante du march\u00e9 immobilier \u00e0 Duba\u00ef. Plusieurs facteurs […]<\/p>\n","protected":false},"author":8,"featured_media":1724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[],"class_list":["post-1723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chiffres-immobiliers"],"_links":{"self":[{"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/posts\/1723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/comments?post=1723"}],"version-history":[{"count":1,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/posts\/1723\/revisions"}],"predecessor-version":[{"id":1725,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/posts\/1723\/revisions\/1725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/media\/1724"}],"wp:attachment":[{"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/media?parent=1723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/categories?post=1723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/tags?post=1723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}