The Dubai real estate market recorded AED 135.6 billion in total sales transactions during the third quarter, according to the Dubai Land Department (DLD).
The figure represents a 9 per cent decrease from the previous quarter but marks a 16 per cent increase year-on-year.
The secondary market saw prices reach AED 5.1 million, a 28 per cent rise compared to the same period last year. Villa and townhouse prices climbed to an average of AED 8.7 million, according to Allsopp & Allsopp data, representing a 21 per cent increase year-on-year.
Dubai property market records AED135.6 billion sales despite quarterly dip
Three transactions illustrate the upper end of the market: a Palm Jumeirah Frond M villa sold for AED40 million, a Wildflower villa in Jumeirah Golf Estates reached AED 35.5 million, and a Jumeirah Islands villa achieved AED 35 million.
The DLD recorded a 28 per cent increase in villa and townhouse transaction volume compared to the second quarter. Overall sales transaction volume rose 15 per cent quarter-on-quarter.
The off-plan sector showed contracting supply, with 6,176 units completed — a 12 per cent decline year-on-year — and 28,573 units launched, representing a 30 per cent annual decrease. Dubai receives nearly 600 new residents daily.
The rental market recorded a 15 per cent increase in transaction volumes from the previous quarter. New rental contracts rose 31 per cent during the period. Allsopp & Allsopp reported a 40 per cent increase in rental transactions compared to the previous quarter.
Off-plan transaction volume increased 27 per cent quarter-on-quarter, according to DLD figures. Allsopp & Allsopp data showed a 29 per cent year-on-year increase in average property prices and a 42% rise in villa and townhouse sales transaction volume year-on-year.
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