A report by FEM Properties revealed that the total number of transactions in July reached 15,994, representing a 43.2% increase in volume compared to the same month last year, with the most expensive single property sold in July being a luxury villa in the EOME Residences complex on Palm Jumeirah for Dh103 million. Apartment sales showed the biggest increase, with 12,429 units sold, a 59.1% monthly increase, and a value of Dh22.3 billion. Total villa sales reached 2,336 units worth AED 14.3 billion last month, up 8.6% from July 2023, while the number of commercial real estate transactions reached 386 transactions worth AED 869.5 million, a monthly increase of 27.4% from 2023.
Feras Al Msaddi, CEO of the company, said: “The figures confirm the overall strength of the real estate market in Dubai, and the continuous growth we have witnessed in recent years, which continues to boost investor confidence.”
The most expensive apartment sold last month was at Aura Infinity by Omniyat on Palm Jumeirah for Dh77 million. The top performing area in July was Jumeirah Village Circle, with 1,265 transactions worth Dh1.3 billion. The top-selling off-plan project in July was Palace Residences in Dubai Hills Estate, with 915 apartments sold for a total of Dh2.3 billion, while the top-selling off-plan villa project was Greenway in Dubai South.