The total value of residential real estate transactions (apartments and villas) worth more than $1 million (AED 3.67 million) in Dubai, from the beginning of 2024 until the end of October, amounted to more than AED 91 billion, resulting from 13,860 sales, according to data from the Department of Land and Property.
Residential sales worth more than $1 million represented 9.2% and 35% in terms of number and value of the total residential sector transactions in Dubai, which achieved 151,050 residential sales, with a total value of AED 259 billion (about $70.6 billion), during 10 months of the current year.
The most prominent areas where residential real estate deals were distributed, each worth more than one million dollars in Dubai, are Palm Jumeirah, Business Bay, Island 2, Dubai Water Canal, Dubai Marina, Burj Khalifa, Jumeirah Beach Residence, Zabeel 1, Al Jaddaf, Jumeirah Bay, Dubai Marina, Bluewaters, Wadi Al Safa 3, Jumeirah Golf, Al Wasl, Tecom City A, Al Habibiya 4, Dubai Harbour, and Jumeirah Lakes Towers.
The total value of real estate sales in Dubai, during the period extending from January to the end of October, amounted to 436 billion dirhams, with sales of residential apartments and villas taking the largest share, amounting to 259 billion dirhams, equivalent to about 60% of the total.
Total real estate transactions, during 10 months, amounted to about 624 billion dirhams, resulting from 187,722 transactions, compared to 432 billion dirhams, resulting from 133,183 transactions, during the same period in 2023, with a growth of 44% and 41% in terms of value and number.