The Allsopp & Allsopp October property market snapshot has arrived!

Dubai's Property Market on Track for Strongest Year-End Finish

Dubai's property market continues to defy expectations, with October 2024 marking another period of significant growth.

Sales transaction value stood at AED 50 billion and surged by 82% year-over-year, driven by increased affordability and strong investor interest. The sales volume of the market stood at 20,460, with apartment sales soaring by 76% year-on-year while villas and townhouses closed off by 21%. October also witnessed a rapid rise in the luxury market, seeing 67 sales taking place over $10 million - reaffirming growing investor interest.

The rental market also experienced substantial growth, with a 64% increase in new rental listings and rising demand leading to increased rental prices and flexible payment options. British and Indian nationals remain the top buyers, with growing interest seen from Canadian and German buyers.

On the off-plan market, developers are actively responding to demand by launching new projects, particularly in popular areas like Jumeirah Village Circle, Dubai Hills Estate, and Motor City - While the off-plan market accounts for 67% of all sales in the market with an impressive value of AED 26.8 billion!

As Dubai's property market continues to thrive, it offers promising opportunities for both investors and homebuyers alike.

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