Property Monitor, the real estate research and data platform, confirmed that real estate prices in Dubai currently stand at 1,351 dirhams per square foot, an increase of 9.5% compared to its previous highest level and the market peak in September 2014.
In its April report on the Dubai real estate market, the corporation titled, “Neither rain, sun, snow, heat, cold, nor even a long public holiday will stop the Dubai real estate market from progressing,” as prices continued to rise and sales volume increased by nearly 45% in April. % on an annual basis.
Initial numbers for launching new projects on the map last April reveal that nearly 10,000 more units will be put on the market for sale during this month, in addition to a record total of 34,000 units distributed over 120 projects in the first quarter of 2024.
The report stated that this remarkable level of activity within the on-plan market shows no signs of slowing down, and is expected to continue for the foreseeable future, whether in key communities recently announced by major developers, such as Aldar, Damac, Emaar, and Majid Al Futtaim, in addition to many specialized and small developers launching projects in existing communities.
It added: “We expect to see an increasing number of new projects in Horizon Square, Jumeirah Garden City, Al Jaddaf, Motor City and Majan, a wide-ranging geographical cluster that will provide a variety of opportunities for investors and end users alike.”