Record Sales in Dubai
Rental Prices Keep Climbing
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We're delighted to share the outstanding results of Dubai's property market for April 2024. Let's dive into the key figures and standout trends of this exceptional month. In this article, we take a close look at the key figures for this remarkable month, based on data from the Dubai Land Department and DXBInteract.
Record Sales in Dubai
In April 2024 alone, the Dubai Land Department recorded an impressive 10,606 sales, setting a new record. This remarkable performance represents a sharp 32.5% increase compared with April 2023. Apartments were the main driver of this growth, with sales up a dramatic 42.1%, totalling 8,742 transactions. In value terms, total transactions reached AED 30.3 billion, or around €7.7 billion, marking a significant 15% increase compared with April 2023.
Table of Dubai Sales in April 2024
Rental Prices Keep Climbing
Rental prices in Dubai continue to rise, affecting the city's residents. In April 2024, the average rent for an apartment increased by 25%, while villa rents rose by 20%. Commercial premises saw the sharpest increase, up a staggering 81.6%. These figures reflect the average prices of new lease contracts signed in April 2024 compared with those signed in April 2023.
Table of Average Rental Prices in Dubai in April 2024
In conclusion, Dubai's property market continues to thrive, offering lucrative opportunities for investors. The announcement of the monumental Al Maktoum Airport project, Dubai's new airport, should further boost sales in the coming months, particularly in the Dubai South area. Madely Properties remains at your disposal to support you with your property plans and help you seize the opportunities offered by this dynamic, fast-growing market.
Read also:
Working in Dubai: the 2025 guide
Rental prices in Downtown Dubai: a detailed analysis
Dubai Property Market: Trends and Forecasts
Average apartment price in Dubai Marina
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