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Mid East Info
12-05-2025
- Business
- Mid East Info
Investor Appetite Grows as Dubai Property Sales Jump 23% in April - Middle East Business News and Information
Demand is high, investor confidence is steady, and the appeal of Dubai real estate, both to locals and global buyers, has never been stronger. Dubai Sales Soar in April: Off-Plan Leads, But Ready Homes Make a Strong Comeback Dubai recorded 15,213 property sales transactions in April, reaching a staggering AED 46.18 billion in value, a 23.1% month-over-month increase. While off-plan transactions made up 59% of the market, secondary sales gained ground, climbing to 41%, up from 38% in March. Average price per square foot rose by 2.05% to AED 1,730, further underscoring the city's steady price appreciation amid strong demand. Apartments were the hottest ticket, with studios and one-bedroom units making up over two-thirds of transactions. Meanwhile, villas and townhouses maintained strength, particularly in 4- and 5-bedroom layouts, reflecting a sustained appetite for space and community living. Top-performing communities for apartments included Motor City, Dubai Marina, and Dubai Land, while Dubai Hills Estate, Al Furjan, and Jumeirah Golf Estates led villa sales. 'April was another strong month for Dubai real estate. It's encouraging to see interest coming from both investors and end-users. It's not just about the big numbers; it's about consistent demand across a wide range of communities and property types. Communities like Dubai Hills Estate and Motor City are seeing real traction, which tells us people aren't just buying for investment. They're buying to live, to grow, and to stay,' said Christopher Cina, Director of Sales at Betterhomes Dubai Leasing Market Holds Steady: Strong Tenant Demand Despite Transaction Dip On the leasing front, Dubai recorded 29,423 rental transactions in April. While this was a 23% dip compared to March, tenant interest remained high, reflected in a 1.2% increase in leads at Betterhomes. This shows that while fewer contracts were signed, demand remains healthy and focused. Apartment rentals averaged AED 140,000 annually, with popular communities like Dubai Marina, Jumeirah Lake Towers (JLT), and Dubai Land leading the charts for tenant activity. Villas saw even higher interest, averaging AED 296,000 per year, with Tilal Al Ghaf, Dubai Hills Estate, and Jumeirah Village Triangle standing out for their strong family appeal. Townhouses also held their own, with an average lease price of AED 226,800. Damac Hills 2 led the segment with a 2.4% rise in rents, a reflection of growing interest in newer, master-planned communities.
Arabian Business
07-02-2025
- Business
- Arabian Business
Dubai real estate: Off-plan sales dominate $12.1bn property market in January despite slight dip
The Dubai real estate sector saw 14,238 transactions with a value of AED 44.4bn in January, according to a Property Finder report. This represents a 23 per cent increase in volume and a 24 per cent increase in value compared to January 2024. Despite a minor dip in the value of off-plan real estate sales value,t it is the highest ever sales and value for Dubai real estate in a January and signals another impressive year ahead for real estate in the emirate. Dubai real estate 2025 Apartments made up 59 per cent of sales, with villas registering 41 per cent of the total. According to the Property Finder research, 31 per cent of people who seek to own or invest in properties were searching for one-bedroom units, with 37 per cent showing an inclination for two-bedroom apartments and 15 per cent for studios. Seekers for villas/townhouses included 37 per cent searching for three-bedroom units and 50 per cent for four-bedroom or larger options. Popular areas for apartment ownership were: Dubai Marina Jumeirah Village Circle Downtown Dubai Business Bay Palm Jumeirah Popular areas for villa/townhouse ownership were: Dubai Hills Estate Palm Jumeirah Dubai Land Al Furjan Damac Hills 2 Property Finder also tracked the performance of off-plan versus ready properties. Off-plan saw slightly more sales transactions, with 52 per cent of sales transactions. However, when transaction value was measured, ready properties dominated, with 66 per cent of the total. In January 2025, the existing market recorded approximately 6,918 transactions, up from 5,185 transactions in January 2024, reflecting a 32 per cent increase in volume and a 41 per cent increase in value. In terms of value, Palm Jebel Ali recorded AED2.1bn ($572m) across 95 deals, while Al Yelayiss 1 saw a remarkable jump, reaching AED1.7bn ($463m), up from AED102m ($28m). The off-plan market experienced a slight decline of 1.3 per cent in transaction value, recording AED15.1bn ($4.1bn), compared to AED15.3bn ($4.2bn) in January 2024. This minor dip marks the first decline in off-plan transaction value in three years. However, the number of off-plan transactions continued to rise, increasing by around 15 per cent, accounting for 52 per cent of total transactions in January 2025. Cherif Sleiman, Chief Revenue Officer at Property Finder, said, 'As we come out of a dynamic year, January 2025 marked a series of significant milestones in the UAE's real estate sector, combined with a resilient momentum. 'Recent initiatives, such as Dubai Land Department's expansion of freehold ownership, are reshaping the landscape by unlocking new opportunities for investors and homeowners. 'At the same time, the Central Bank of the UAE's focus on responsible lending will foster a more stable financial environment, reinforcing long-term market growth. 'These developments, aligned with the Dubai Real Estate Sector Strategy 2033, signal a transformative phase for the industry – one we will continue to track as we provide home-seekers with accurate insights that drive informed decision-making.' Property Finder also identified trends in the rental market in Dubai. It found that roughly 59 per cent of tenants looking for apartments preferred furnished properties, while 39 per cent turned to unfurnished options. Tenants who sought villas/townhouses showed a difference in preference, with around 48 per cent searching for unfurnished units and 52 per cent going for furnished properties. When searching for apartments, 33.4 per cent of tenants were looking for one-bedroom units, while 33 per cent expressed a preference for two-bedroom apartments and 21 per cent for studios. 42 per cent of tenants looked for three-bedroom villas and 35 per cent searched for four-bedroom or larger options. Top areas searched to rent apartments included: Jumeirah Village Circle Dubai Marina Downtown Dubai Business Bay Deira Top areas searched to rent villas/townhouses included: Jumeirah Dubai Hills Estate Damac Hills 2 Al Barsha Al Furjan
Khaleej Times
05-02-2025
- Business
- Khaleej Times
Dubai realty market records 24% surge in value
Dubai's real estate market recorded robust growth in January 2025, particularly in the off-plan segment, according to the latest data from Property Finder. The market recorded approximately 14,238 transactions, marking a significant 23 per cent increase compared to January 2024. The total value of these transactions reached Dh44.4 billion, reflecting a 24 per cent rise year-on-year. Property seekers displayed a clear preference for specific types of housing. Among those looking to invest or purchase properties, 31 per cent sought one-bedroom units, while 37 per cent preferred two-bedroom apartments. Studio apartments attracted 15 per cent of potential buyers. For villas and townhouses, 37 per cent were interested in three-bedroom units, and a notable 50 per cent favoured four-bedroom or larger options. The most sought-after locations for apartments included Dubai Marina, Jumeirah Village Circle, Downtown Dubai, Business Bay, and Palm Jumeirah. Meanwhile, villa buyers showed strong interest in Dubai Hills Estate, Palm Jumeirah, Dubai Land, Al Furjan, and Damac Hills 2. Rental preferences also highlighted market trends. About 59 per cent of tenants looking for furnished properties, while 39 per cent opted for unfurnished options. In the villa market, 52 per cent of tenants sought furnished units, compared with the 48 per cent looking for unfurnished ones. The top areas for rental searches included Jumeirah Village Circle, Dubai Marina, Downtown Dubai, Business Bay, and Deira for apartments, while Jumeirah, Dubai Hills Estate, Damac Hills 2, Al Barsha, and Al Furjan were popular for villas. When examining the off-plan versus existing market dynamics, the existing market saw a significant uptick with approximately 6,918 transactions recorded — up from 5,185 in January 2024, which translates to a 32 per cent increase in transaction volume and a 41 per cent increase in value. Notably, Palm Jebel Ali achieved Dh2.1 billion in transaction value across 95 deals, while Al Yelayiss 1 experienced a remarkable surge, reaching Dh1.7 billion, up from just Dh102 million last year. Conversely, the off-plan market experienced a slight decline of 1.3 per cent in transaction value, totalling Dh15.1 billion, down from Dh15.3 billion in January 2024. This marks the first decline in off-plan transaction value in three years. However, the number of off-plan transactions rose by around 15 per cent, comprising 52 per cent of total transactions in January 2025. Cherif Sleiman, chief revenue officer at Property Finder, said January 2025 marked significant milestones in the UAE's real estate sector, showcasing resilient momentum. 'Recent initiatives, including the Dubai Land Department's expansion of freehold ownership, are reshaping the landscape by unlocking new opportunities for investors and homeowners.' Sleiman also noted that the Central Bank of the UAE's emphasis on responsible lending is fostering a more stable financial environment, reinforcing long-term market growth. These developments align with the Dubai Real Estate Sector Strategy 2033, signalling a transformative phase for the industry. ValuStrat forecasts that Dubai's residential market will continue its upward trajectory in 2025, albeit at a slower pace. Economic growth, rising demand, and positive sentiment contribute to this outlook, with capital values projected to increase by 5-10 per cent throughout the year. Adding to this positive sentiment, Engel & Völkers Middle East reported that off-plan transactions accounted for 63 per cent of all property sales in 2024, up from 54 per cent in 2023. This shift indicates growing demand for new developments driven by competitive pricing and attractive payment plans. Total residential sales transactions surged by 40.3 per cent to 170,992 units in 2024, underscoring sustained investor confidence in Dubai's property market. Luxury properties remain a focus, with Palm Jumeirah, Downtown Dubai, and Dubai Marina attracting high-net-worth individuals. Emerging developments like Palm Jebel Ali and The Oasis are generating new interest in off-plan projects, catering to buyers seeking exclusivity and long-term capital appreciation. "The continued dominance of off-plan sales reflects a clear shift in buyer preferences, with investors looking for properties that offer long-term value," said Daniel Hadi, CEO of Engel & Völkers Middle East. "Government-led initiatives, such as long-term visas and free zone expansions, further enhance Dubai's appeal as a premier real estate investment hub."
