January 2024 - Real Estate Market Results

January 2024 - Real Estate Market Results

According to the Dubai Land Department data:

– In January 2024, 11,280 property transactions worth $9.64 billion were completed in Dubai.

Property deals show 15% volume increased and 27% value rose compared to January 2023.

46% – 5,150 transactions worth $5.6 billion – Existing Properties

54% – 6,130 transactions worth $4.04 billion – Off-plan Properties

Compared to January 2023:

• Existing volume increased by 7%, the value rose by 30%
• Off-plan volume increased by 23%, the value rose by 22%

TOP Projects by Sales Value

Apartments

1. DAMAC Casa – $191 million
2. Central Park Plaza – $170 million
3. ORLA Dorchester Collection – $157 million
4. Casa Canal – $152 million
5. Elara – $130 million

Villas

1. Alana, The Valley – $88 million
2. Expo Valley – $65 million
3. Ixora, Al Barari – $27 million
4. California Village – $24 million
5. Zuha Islands by Zaya – $22 million

1st Place by Sales Volume

Apartments – Elitz 3 by Danube

Villas – Alana, The Valley

According to the digital portal, Property Finder, buyers looking for:

– Apartments – 58%

– Villas and Townhouses – 42%

Tenants looking for:

– Apartments – 80%

– Villas and Townhouses – 20%

TOP 3 searched areas for rent

Apartments

1. Dubai Marina
2. JVC
3. Downtown Dubai

Villas and Townhouses

1. Dubai Hills Estate
2. Al Barsha
3. DAMAC Hills 2