In October, the Dubai real estate market achieved a historic milestone by surpassing 20,000 transactions for the first time. This indicates that the market’s momentum is still strong and shows no signs of slowing down.
According to new data from Property Monitor, there were 20,460 sales transactions last month, reflecting a 13 percent increase from September. The strong demand for both residential and commercial properties continues to push prices and rents higher.
“After a record-setting September, Dubai’s real estate sector hit another high in October. Off-plan and under-construction properties made up most of the sales, showing ongoing investor confidence in the market,” said Zhann Jochinke, chief operating officer of Property Monitor.
He added, “With lower interest rates, a wave of new projects, and more people opting to buy instead of rent, Dubai’s property market remains vibrant.”
Much of this demand is driven by Dubai’s rapid population growth since the pandemic. Over 100,000 new residents are moving to the city each year, leading to consistent demand that outpaces supply.
Property Monitor’s report for October highlighted that nearly three-quarters (73 percent) of transactions involved off-plan or under-construction properties, while residential transactions accounted for nearly 95 percent of total sales, totaling over 19,400 deals.
The most expensive sale in October was a villa in Jumeirah Bay, which sold for Dh175 million. Another high-value sale was a villa in Eome at Palm Jumeirah’s western crescent, priced at Dh170.5 million.
Emaar Properties continued to lead in the number of off-plan sales in October, followed by Damac Properties and Sobha.
