Dubai's Real Estate Transactions April 2024: Record Transactions and Launches Mark Q1 2024

Dubai logs over a total of 11,701 real estate transactions worth AED 32.41 Billion were conducted during the week ending 30th April 2024, according to figures released by the Dubai Land Department (DLD).
In Q1 2024, Dubai’s real estate markets saw significant growth, as per the latest ValuStrat Price Index (VPI). The VPI tracks capital and rental values of typical properties over time. Capital values in residential segments rose by 6.4% quarterly and 24.7% annually, reaching 167.5 points from the base of 100 in Q1 2021, with mid-affordable communities leading the surge.

HIGHLIGHTS – APRIL 2024
✓ Total Property Sale Transactions – 11,701
✓ Total Sales Value – AED 32.41 B
✓ Units – 9,979
✓ Total Buildings – 682
✓ Total Lands – 1,040

In Q1 2024, Dubai witnessed a flurry of project launches by developers, both domestic and foreign, averaging more than one launch per day. According to initial findings from Cavendish Maxwell’s Property Monitor, nearly thirty new off-plan projects were introduced in March 2024, offering around 10,000 units for sale during the month.

“These projects now bring the total number of launches in first-quarter of 2024 to an unprecedented 34,000 units spread over 120 projects — an average of a new launch every 18 hours,” said Zhann Jochinke, director of marketing and research at Cavendish Maxwell.