Dubai Real Estate Market Booms: Record Sales Transactions and Values Surge?in?Q1?2024

Total Sales Transactions:

• Q1 2024: Recorded 36,200 transactions marking the second highest for the quarter.
• Q1 2023: Witnessed 31,000 transactions.
• Year-over-Year Increase: Approximately 17% increase in transactions from Q1 2023?to?Q1?2024.

Existing/Ready Sales Transactions in Q1 2024

Transactions Volume:

• Increased to 19,600 from 15,000 in Q1 2023.
• Year-over-year growth of 30.7%.
• Now represents 54% of total transactions up from 48% last year.

Transactions Value:

• Rose to AED 78.2 billion, up from AED 53.6 billion in Q1 2023.
• Year-over-year growth of 46%.
• Accounts for 68% of the total transaction value, an increase from 60% last year.

This indicates a significant growth in the existing/ready property market both in terms of the number of transactions and their?total?value.