Dubai Real Estate Market Overview: Q2 - 2024

📊 Sales Volume:

43,612 transactions
19.7% increase vs. QoQ
44.1% vs. Q2 2023

💸 Sales Value:

AED 124.6B
15.1% increase vs. QoQ
36.6% increase vs. Q2 2023

💰Sales Value:

• Apartments: AED 62.5B (45% increase vs Q2 2023)
• Villas: AED 27B (18.7% increase vs Q2 2023)
• Commercial: AED 2.4B (22.2% increase vs Q2 2023)
• Plots: AED 32.7B (154.3% increase vs Q2 2023)

📍Top 5 performing areas:

• Jumeirah Village Circle
• Zaabeel First
• Business Bay
• Dubai Marina
• Dubai Hills Estate

🌐 Discover full report HERE !

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🏝️Sheikh Hamdan unveils Jebel Ali open beach project with diving, swimming and viewing areas

The Jebel Ali Beach Development Project will see a two-kilometre open beach for swimming, a 2.5km diving sports area, a walkway with viewing platforms, and recreational and service areas for beachgoers of all ages.

🌐 Read More News HERE !

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Last Week Overview

DOWNTOWN DUBAI

💲Median Price:

AED 2,450,000
-16% decline from last week

💸 Median Price Per Sqft:

AED 2,350
-7% decline from last week

📈 Transactions:

43 transactions
-32% decline from last week

🌐 View the whole report HERE !

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Fairmont and SOL Properties Launch Fairmont Residences Solara Tower in Dubai

Fairmont Hotels & Resorts and SOL Properties are constructing the Fairmont Residences Solara Tower in Downtown Dubai, set to complete by 2027. The 55-story tower will blend luxury living with exclusive amenities like private pools and gourmet restaurants, capitalizing on Dubai’s growing luxury real estate market.

🌐 Read More HERE !

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🏝️Sheikh Hamdan Approves Master Plan and Designs for Jebel Ali Beach Development Project

The Jebel Ali Beach Development Project, aligned with Dubai's 2040 Urban Master Plan, aims to develop 6.6 kilometers of coastline, focusing on recreation and ecological preservation.

🌐 Read More News HERE !

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🛣️ Dubai is set to build the world's longest green highway.

The Dubai Green Spine project will span 64 km along Sheikh Mohammad Bin Zayed Road, from Muhaisnah to Dubai Industrial City.

Solar panels will be installed on tram tracks, and the surroundings will be enriched with a million native trees and urban farms.

🌐 Read More News HERE !

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📈Dubai Real Estate Market Overview

Weekly Sales Summary

✅ Sales volume:
2,960 transactions

+0.27% increase

✅ Worth:
1.6K per sqft

-100% decrease

🌐 More Reports HERE !

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📍Freehold Areas in Dubai: A Comprehensive Guide

In this guide you will find:

🔹 Advantages of Investing in Freehold Properties

🔹 List of Freehold Areas in Dubai:
• for apartments
• for villas
• apartments and villas

🔹 Factors to Consider Before Investing

🔹 FAQs

🌐 Read the full guide HERE !

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Last Week Overview

BUSINESS BAY

💲Median Price:

AED 1,450,000
-24% decline from last week

💸 Median Price Per Sqft:

AED 2,040
-16% decline from last week

📈 Transactions:

189 transactions
-22% decline from last week

🌐 View the whole report HERE !

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🏝️Marbella Resort: Spanish-Inspired Luxury Coming Soon to Dubai's World Islands

Set to open in early 2025, Dubai's Marbella Resort on the World Islands merges Spanish elegance with AED 1 billion luxury.

This resort features 150 rooms and offers unique attractions like a kilometer-long raining street and an indoor snow plaza.

🌐 Read More HERE !

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Last Week Overview

JUMEIRAH VILLAGE CIRCLE

💲Median Price:

AED 955,000
+6% increase from last week

💸 Median Price Per Sqft:

AED 1,290
+1% increase from last week

📈 Transactions:

233 transactions
-21% decline from last week

🌐 View the whole report HERE !

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💸The Central Bank of the United Arab Emirates (CBUAE) has set a new record

As of the end of April 2024, its consolidated balance reached an all-time high of 789.82 billion dirhams.

🌐 Read More News HERE !

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📈Dubai Real Estate Market Overview

Weekly Sales Summary

✅ Sales volume:
4,010 transactions

+34.97% increase

✅ Worth:
1.7K per sqft

-100% decrease

🌐 More Reports HERE !

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Last Week Overview

DOWNTOWN DUBAI

💲Median Price:

AED 2,525,000
-16% decline from last week

💸 Median Price Per Sqft:

AED 2,470
-2% increase from last week

📈 Transactions:

58 transactions
-9% decline from last week

🌐 View the whole report HERE !

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🤔How can I make a decision about safe property investments more quickly?

- Find the answer on DXB Interact ! 🌐

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Dubai's Commercial Real Estate Faces Investor Surge and Supply Challenges

🔹 Foreign Investment: 45% of 2023 transactions by foreign investors.

🔹 Supply Issues: Rising demand outpacing supply.

🔹 Cost Increase: Construction materials up 20-30%.

🔹 Price Growth: 8-10% annual increase next decade.

🔹 Economic Diversification: Growth beyond oil and tourism.

🌐 Read More HERE !

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Last Week Overview

BUSINESS BAY

💲Median Price:

AED 1,748,000
23% increase from last week

💸 Median Price Per Sqft:

AED 2,180
10% increase from last week

📈 Transactions:

216 transactions
-36% decline from last week

🌐 View the whole report HERE !

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Record $17 Million Sale Achieved for Luxury Villa on Palm Jumeirah by Super-Prime Developer 25 Degrees

25 Degrees, known for its luxury European-style villas, has sold a beach villa on Palm Jumeirah for $17 million (AED 62 million), setting a new price record.

This sale highlights the growing demand for high-quality villas in Dubai. The developer aims to sell 100 homes by 2030.

🌐 Read More HERE !

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📈Dubai Real Estate Market Overview

Weekly Sales Summary

✅ Sales volume:
4,040 transactions

-0.76% decrease

✅ Worth:
1.5K per sqft

-100% decrease

🌐 More Reports HERE !

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Last Week Overview

DOWNTOWN DUBAI

💲Median Price:

AED 3,681,000
46% increase from last week

💸 Median Price Per Sqft:

AED 2,880
17% increase from last week

📈 Transactions:

42 transactions
-30% decline from last week

🌐 View the whole report HERE !

#dxbinteract #realestatemarket #propertymarket