Dubai’s real estate market experienced a significant surge in April 2024, leading to a 45.11% increase in registered sales transactions compared to the previous year. This boom resulted in 11,607 transactions totaling 32 billion dirhams in the first quarter of 2024, marking a 21.13% increase from the same period in 2023.
The demand for apartment properties remained strong, with buyers and renters alike focusing on this type of property. According to Property Finder data, 79% of renters searched for apartments, while potential buyers showed interest in both villas and independent homes but were more inclined towards residential apartments (58%).
Interestingly, three-bedroom villas remained highly sought after by both buyers and renters. Additionally, tenants tended to prefer ready-furnished apartments while those looking for villas opted for unfurnished options.
Certain areas in Dubai continue to attract high interest from buyers, renters, and investors. Villas were popular choices among those looking to own property in Dubai South, Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, and Al Furjan. Meanwhile, apartment seekers found appeal in areas such as Dubai Marina, Downtown Dubai, Jumeirah Village Circle, Business Bay