Is This Dubai's Best Year Ever? Off-Plan Sales Surge as 2024 Comes to a Close

As November comes to an end, Dubai’s property market recorded 12,543 transactions, an 18% increase from the same period last year, with total sales value reaching AED 30.5BN. The average sales price per square foot reached AED 1,664, the second highest in Dubai's history.

This strong performance comes with an interesting shift in market dynamics. While overall property values saw a slight 7% dip, the high volume of sales transactions points to an evolving market. This is likely driven by a surge in first-time buyers entering the more affordable segment. With 77% of transactions priced under AED 3 million, the market demonstrates healthy growth fueled by increased accessibility.

Off-plan sales continued to dominate the market, accounting for 60% of all Dubai sales transactions, a 35% increase year-on-year with a total value of AED 15.8BN.

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