Property Finder showed, in the latest real estate indicators, that 14,479 real estate sales were recorded in Dubai during November 2024, achieving a remarkable growth of 19% compared to the same month in 2023. The total value of these transactions also witnessed a significant increase of 1.6%, reaching AED 43 billion.
The search among tenants was directed towards apartments by 80%, compared to 20% for villas. As for buyers, the search was focused at 43% for villas and 57% for apartments. The under-construction real estate market maintained its pivotal role in enhancing the activity of the real estate sector in Dubai during November 2024, recording about 8,550 sales, a remarkable annual increase of about 46%.
The value of these sales increased significantly by about 30% compared to last year, reaching about AED 18.2 billion, compared to AED 14 billion in November 2023.
In contrast, the ready real estate market recorded 5,931 sales, which represents a decrease of about 6% in terms of the number of sales. In terms of value, ready real estate market sales amounted to about AED 24.8 billion, achieving a decrease of about 12.22% compared to November 2023, when the value reached AED 28.3 billion.
About 65% of tenants looking for apartments preferred furnished units, while 34% went for unfurnished options.
Those looking for villas or independent houses (townhouses) for rent showed different preferences, as about 51% searched for unfurnished units and 48% for furnished properties.
35% of apartment-hunters focused on one-bedroom units, while 31% preferred two-bedroom apartments and 24% studios. 40% of villa-hunters looked for three-bedroom units, while 38% preferred four-bedroom or more options. The most popular areas for apartment rentals were Jumeirah Village Circle, Dubai Marina, Downtown Dubai, Business Bay and Deira.
Those looking for villas and townhouses were interested in Jumeirah, Dubai Hills Estate, Damac Hills 2, Al Barsha and Umm Suqeim. 33% of investors looked for one-bedroom units, while 35% showed a preference for two-bedroom apartments and 15% preferred studios. 37% of villa-hunters and townhouse-hunters preferred three-bedroom units and 50% looked for four-bedroom or more options.
The list of the most popular areas for owning apartments included Dubai Marina, Jumeirah Village Circle, Downtown Dubai, Business Bay, and Palm Jumeirah. Dubai Hills Estate, Palm Jumeirah, Al Furjan, Dubailand, and Mohammed Bin Rashid City topped the list of the most popular areas for owning villas or independent homes (townhouses).