Skyrocketing Real Estate Transactions and Surging Luxury Market: Dubai's March 2024 Update

Dubai logs over a total of 13,839 real estate transactions worth AED 37.73 Billion were conducted during the week ending 31st March 2024, according to figures released by the Dubai Land Department (DLD).

HIGHLIGHTS – MARCH 2024
✓ Total Property Sale Transactions – 13,839
✓ Total Sales Value – AED 37.73 B
✓ Units – 11,130
✓ Total Buildings – 1,265
✓ Total Lands – 1,444

TOP 5 PERFORMING REGIONS IN MARCH 2024
▪️ Al Barsha South Fourth
▪️ Business bay
▪️ Dubai Marina
▪️ MBR City
▪️ Zaabeel First

Dubai’s luxury real estate market is thriving, with the Dubai Residential Capital Values Price Index reporting a 23.1% annual increase, fueled by strong demand and investor confidence. Highly sought-after villas in Jumeirah Islands and Palm Jumeirah saw capital gains surge by 28%, while apartments in Discovery Gardens and The Greens experienced over 27% growth. Transactional activity remains robust, with 20 deals over AED 30 million recorded in February alone, indicating sustained investor interest. Developers like Emaar, Damac, Danube, and Sobha are actively involved in these transactions, reflecting optimism in Dubai’s long-term growth prospects. Additionally, there’s a notable increase in off-plan segment resilience, with Oqood registrations jumping by 32.6% annually, signaling continued investor confidence in the city’s real estate market.