Real estate prices in Dubai maintained their brilliance and prosperity, rising for 40 consecutive months at the end of last June, and exceeding their peak in September 2014 by 11.8%.
According to the real estate research and data platform “Property Monitor”, Dubai real estate continues to achieve record numbers month after month, which indicates the exceptional demand for units with high attractiveness from local and international investors, as it recorded the highest half-year sales ever in the first 6 months of this year. Through 80,231 sales transactions worth more than 233 billion dirhams, according to data from the Dubai Land Department.
The platform added that real estate prices in Dubai continued their strong rise, recording 1,380 dirhams per square foot, which is approximately 75.8% higher than the lowest market level in April 2009 and approximately 11.8% higher than the peak in September 2014.
The platform continued, “In June 2024, the institution’s Dynamic Price Index (DPI) at the emirate level reached its highest level ever at 193 points, up from 189.91 in May 2024 and 188.61 points in April 2024.”
The platform stated that on an annual basis, prices rose 18.2%, recording 40 consecutive months of increase. Total real estate transactions in Dubai during the first half recorded about 344 billion dirhams, resulting from about 100,000 transactions, a growth of 34.9% compared to the value recorded in the same period last year at 255 billion dirhams through 75,284 transactions.
The platform continued, “In June 2024, the institution’s Dynamic Price Index (DPI) at the emirate level reached its highest level ever at 193 points, up from 189.91 in May 2024 and 188.61 points in April 2024.”
The platform stated that on an annual basis, prices rose 18.2%, recording 40 consecutive months of increase. Total real estate transactions in Dubai during the first half recorded about 344 billion dirhams, resulting from about 100,000 transactions, a growth of 34.9% compared to the value recorded in the same period last year at 255 billion dirhams through 75,284 transactions.