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Zawya
4 days ago
- Business
- Zawya
Dubai's residential real estate sales value up 36% in H1, says report
The first six months have highlighted a strong, thriving Dubai real estate market, with robust buyer demand and rising sales, according to leading real estate advisory and property consultant, Cavendish Maxwell. The residential property sector secured over AED262 billion ($71.3 billion) worth of sales in H1, across 91,900 transactions – up 23% year-on-year but down slightly compared to H2 2024, largely because of reduced off-plan activity caused by fewer launches and seasonal factors, stated Cavendish Maxwell in its new insight and analysis. While off-plan sales still dominate, accounting for more than 70% of transactions, Cavendish Maxwell's report shows increasing demand for ready properties, which hit record highs between April and June this year, at 14,200 transactions, and a total of 27,400 deals for the whole of H1, representing 10% year-on-year growth. Off-plan transactions reached 64,500 in H1 – up almost 30% year-on-year but down 4% compared to H2 last year. While more than 61,800 new units are currently being built, only one in five (21%) of projects scheduled for completion this year have reached 75% or more in terms of construction progress, suggesting potential delays in delivery, the report shows. Ronan Arthur, Director and Head of Residential Valuation at Cavendish Maxwell, said: "The first six months of the year has highlighted a strong, thriving Dubai real estate market, with robust buyer demand and rising sales. At the same time, we are seeing early signs of moderation in rental price growth – good news for a city focused on attracting new talent and expanding its population." "Looking ahead, we anticipate that the market will remain resilient, with new project launches and initiatives like the First-Time Buyer programme encouraging new investors to enter the market. With a steady flow of completions in the pipeline, Dubai's property sector is poised to evolve into a more mature, balanced phase, creating new opportunities and greater accessibility," he added. Cavendish Maxwell said apartments had a 76.7% off-plan market share in H1 this year, down 5.6% on the same period in 2024. Meanwhile, the off-plan share for villas and townhouses grew 5% year-on-year as investors opt for larger living space and a garden in master-planned communities. Affordable properties, combined with flexible payment schemes, are also driving villa and townhouse demand. Apartments also dominate the ready properties sector, with a share of almost 82% in H1, up 1.2% on last year. The most popular size for both off plan and ready apartments is a one-bedroom unit, accounting for 44% and 41% respectively, followed by two-beds (24.9% and 26.7%). Studios are gaining ground, with their share rising to nearly 25% in the off-plan sector. In the villa and townhouse sector, four-bed homes dominate off-plan sales, taking 55% of all transactions and reflecting strong demand for family-sized accommodation, stated Cavendish Maxwell in the report. The market share for five- and six-bed properties has increased, further signalling a healthy appetite for larger homes. In the ready properties segment, three-and four-bed properties are most demand, but five-bed sales grew to a market share of almost 13%, mirroring the demand for larger homes seen in the off-plan market. On the top developers by volume, the report said Emaar, Damac Properties and Sobha Group continued to dominate the residential market in H1, each retaining their positions in the top developer charts. Emaar's performance was supported by strong sales at The Valley and Emaar South; Damac saw robust volumes at Damac Islands and Damac Hills 2, while Sobha Group enjoyed steady at Sobha Solis and Sobha Orbis. There were also solid performances by Binghatti and Danube Properties, while Beyond made its way into the top 10 for the first time, thanks to rising demand for its Dubai Maritime City developments. The complete top 10: Emaar, Damac, Sobha, Binghatti, Danube, Samana, Nakheel, Azizi, Beyond and Wasl. According to Cavendish Maxwell, Dubai has more than 61,800 units under construction for the rest of 2025, and more than 100,000 projected for delivery in 2026 and 2027. Around 300 new projects, with more than almost 88,000 units between them, were launched in H1 – amounting to an average of 490 homes each day, stated the expert. With an 86% market share, apartments account for the vast majority of new launches, it added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arabian Business
4 days ago
- Business
- Arabian Business
Dubai's residential real estate sales values climb 36.4% to AED 262bn
Dubai's residential real estate market recorded AED 262 billion in sales during the first half of 2025, marking a 36.4 per cent increase from the same period last year. According to a new market performance report released by Cavendish Maxwell, residential transactions reached 91,900 in H1, up 23 per cent year-on-year, as demand remained strong across both off-plan and ready property segments. Ronan Arthur, MRICS, Director and Head of Residential Valuation at Cavendish Maxwell, said: 'The first six months of the year has highlighted a strong, thriving Dubai real estate market, with robust buyer demand and rising sales. At the same time, we are seeing early signs of moderation in rental price growth – good news for a city focused on attracting new talent and expanding its population.' Strong demand fuels Dubai residential growth Off-plan sales accounted for over 70 per cent of transactions, though demand for ready homes is increasing, with 27,400 deals recorded, a 10 per cent year-on-year rise. Off-plan apartment market share fell 5.6 per cent to 76.7 per cent in H1, while villa and townhouse sales rose, driven by demand for larger living spaces and garden access. Four-bedroom homes led off-plan villa and townhouse sales, making up 55 per cent of transactions. In the ready homes segment, three- and four-bedroom units were most in demand, though five-bedroom sales also grew, capturing a 13 per cent share. Emaar, DAMAC Properties and Sobha Group remained the top developers by sales volume. Beyond entered the top 10 for the first time, supported by strong performance in Dubai Maritime City. Other top developers included Binghatti, Danube, Samana, Nakheel, Azizi and Wasl. Jumeirah Village Circle led in apartment sales, with more than 8,000 transactions. DAMAC Islands ranked first for off-plan villa and townhouse sales, while DAMAC Hills 2 topped the list for ready villa and townhouse transactions. Luxury sales surged, with over 1,400 properties priced above AED 20 million sold in H1, up 82 per cent year-on-year. Transactions for ultra-luxury properties valued above AED 50 million rose 33 per cent to 140 deals. 'Dubai Land Department's recently launched First-Time Home Buyer Programme will further boost the residential market, particularly among end-users,' Arthur said. 'In time, the scheme could also help diversify the buyer base, promote long-term residency and contribute to a more balanced, inclusive housing market.' Residential prices rose 16.6 per cent year-on-year to AED 1,609 per square foot on average. Rental prices increased almost 10 per cent from H1 2024 but declined 0.6 per cent compared to H2 last year, driven by more new units entering the market. Gross rental yields in June 2025 averaged 7.2 per cent for apartments and 5 per cent for villas and townhouses. Dubai Investments Park recorded the highest apartment yields at 10.3 per cent. For villas and townhouses, Dubai Industrial City led with 7 per cent. Approximately 17,200 residential units were completed in H1, with nearly half of all handovers in Jumeirah Village Circle, Sobha Hartland and Mohammed Bin Rashid City. Apartment handovers made up more than 77 per cent. Developers launched 300 new projects in H1, bringing 87,900 units to market, an average of 490 new homes per day. Although over 61,800 units are under construction for the remainder of 2025, only 21 per cent of projects scheduled for completion this year have reached 75 per cent or more in construction progress. 'These projections suggest an average of 9,000 units could be delivered every month through to 2027, but actual completion rates are expected to be lower, potentially leading to timeline shifts and delayed handovers,' Arthur said.
Zawya
5 days ago
- Business
- Zawya
Dubai's residential real estate sales values climb 36.4% year-on-year to more than AED262bln
Sales and rental prices up, but hints of moderation in leasing sector 300 project launches in H1 to bring 87,900 new units to Dubai Dubai – Dubai's residential property sector secured over AED262 billion worth of sales in H1 2025, up more than a third (36.4%) on the same period in 2024, according to new insight and analysis by leading real estate advisory and property consultant, Cavendish Maxwell. Sales transactions also rose year-on-year, reaching 91,900 between January and June, an annual increase of 23%. Cavendish Maxwell's new Dubai Residential Market Performance Report also shows that in H1 2025: 17,200 new residential units were completed Nearly half of all handovers were in Jumeirah Village Circle, Sobha Hartland and Mohammed Bin Rashid City Sales prices rose nearly 17% year-on-year – and almost 8% compared to H2 2025 Rental rates grew almost 10% compared to 2024 prices – but declined 0.6% against H2 last year 300 new projects, with 87,900 units, were launched While more than 61,800 new units are currently being built, only one in five (21%) of projects scheduled for completion this year have reached 75% or more in terms of construction progress, suggesting potential delays in delivery, the report shows. Ronan Arthur, MRICS, Director and Head of Residential Valuation at Cavendish Maxwell, said: 'The first six months of the year has highlighted a strong, thriving Dubai real estate market, with robust buyer demand and rising sales. At the same time, we are seeing early signs of moderation in rental price growth – good news for a city focused on attracting new talent and expanding its population. Looking ahead, we anticipate that the market will remain resilient, with new project launches and initiatives like the First-Time Buyer programme encouraging new investors to enter the market. With a steady flow of completions in the pipeline, Dubai's property sector is poised to evolve into a more mature, balanced phase, creating new opportunities and greater accessibility.' Sales volumes and values Residential sales in H1 reached a value of AED262 billion across 91,900 transactions – up 23% year-on-year but down slightly compared to H2 2024, largely because of reduced off-plan activity caused by fewer launches and seasonal factors. While off-plan sales still dominate, accounting for more than 70% of transactions, Cavendish Maxwell's report shows increasing demand for ready properties, which hit record highs between April and June this year, at 14,200 transactions, and a total of 27,400 deals for the whole of H1, representing 10% year-on-year growth. Off-plan transactions reached 64,500 in H1 – up almost 30% year-on-year but down 4% compared to H2 last year. Off-plan v ready units While off-plan apartments continue to dominate the sales market, demand for villas and townhouses is increasing. Apartments had a 76.7% off-plan market share in H1 this year, down 5.6% on the same period in 2024. Meanwhile, the off-plan share for villas and townhouses grew 5% year-on-year as investors opt for larger living space and a garden in master-planned communities. Affordable properties, combined with flexible payment schemes, are also driving villa and townhouse demand. Apartments also dominate the ready properties sector, with a share of almost 82% in H1, up 1.2% on last year. The most popular size for both off plan and ready apartments is a one-bedroom unit, accounting for 44% and 41% respectively, followed by two-beds (24.9% and 26.7%). Studios are gaining ground, with their share rising to nearly 25% in the off-plan sector. In the villa and townhouse sector, four-bed homes dominate off-plan sales, taking 55% of all transactions and reflecting strong demand for family-sized accommodation. The market share for five- and six-bed properties has increased, further signalling a healthy appetite for larger homes. In the ready properties segment, three-and four-bed properties are most demand, but five-bed sales grew to a market share of almost 13%, mirroring the demand for larger homes seen in the off-plan market. Top developers by volume Emaar, DAMAC Properties and Sobha Group continued to dominate the residential market in H1, each retaining their positions in the top developer charts. Emaar's performance was supported by strong sales at The Valley and Emaar South; DAMAC saw robust volumes at DAMAC Islands and DAMAC Hills 2, and Sobha Group enjoyed steady at Sobha Solis and Sobha Orbis. There were also solid performances by Binghatti and Danube Properties, while Beyond made its way into the top 10 for the first time, thanks to rising demand for its Dubai Maritime City developments. The complete top 10: Emaar, DAMAC, Sobha, Binghatti, Danube, Samana, Nakheel, Azizi, Beyond and Wasl. Dubai's most loved locations … Jumeirah Village Circle topped the sales charts for both off-plan and ready apartments, with more than 8,000 transactions in total, followed by Business Bay with combined off-plan and ready sales reaching almost 5,000. DAMAC Islands took the top spot for off-plan villa and townhouse sales, with over 3,860 deals secured, followed by Emaar's The Valley, with more than 1,930 transactions. DAMAC Hills 2 leads the way on ready villa and townhouse sales, with 500 transactions, with Emirates Living in second place, with just under 360. … And the lap of luxury More than 1,400 luxury properties – those valued at AED20 million or more – were sold in H1 this year, an increase of more than 82% on the same period in 2024 and a 62% rise on H2 last year, reinforcing Dubai's position as a magnet for HNWIs. Meanwhile the ultra-luxury sector, comprising properties worth AED50 million or above, also saw an uptick in performance, climbing by 33% compared to H1 and reaching 140 transactions. The surge in luxury demand is supporting by Dubai's attractive lifestyle and fiscal advantages: safety, political stability, a favourable tax environment, world-class amenities and investor-friendly visa programmes, and reinforces Dubai's position as a premier destination for global wealth, Cavendish Maxwell said. High transaction numbers = higher prices Residential prices rose by 16.6% in H1 2025 compared to 12 months ago, reaching an average AED1,609 per square foot – the result of strong demand from local and international investors, and end-users. While double-digit price growth compared to H2 2024 was recorded in several areas including Discovery Gardens, Al Furjan, Dubai Marina, Motor City, Arabian Ranches 2 and Dubai Hills, there was a slight drop in other communities such as Barsha Heights, Meydan, Palm Jumeirah and DAMAC Hills. Ronan Arthur added: 'Dubai Land Department's recently launched First-Time Home Buyer Programme will further boost the residential market, particularly among end-users, by making it easier to enter the market and encouraging home ownership. In time, the scheme could also help diversity the buyer base, promote long term residency and contribute to a more, balanced, inclusive housing market.' Rental rates and yields Rental prices rose almost 10% year-on-year but saw a drop of 0.6% compared to H2 2024. The slight decline is due to a reduction in renewal contracts as a result of more units coming to market, giving tenants more options and more negotiating power. However, renewed contracts still dominate the market: of the 244,000 rental contracts signed between January and June, almost 67% were renewals. At the end of June this year, average gross rental yields in Dubai were 7.2% for apartments and 5% for villas and townhouses – a slight half-on-half decline. Nevertheless, yields are still strong – and continue to outperform many other global markets. Dubai Investments Park was top for apartment rental yields, at 10.3%, followed by International City and Downtown Jebel Ali (both 8.8%), and Dubai Production City and Dubai Studio City in joint third place, at 8.4%. The top three locations for villa and townhouse rental yields were Dubai Industrial City at 7%, Jumeirah Village Circle (5.9%) and DAMAC Hills 2 (5.8%). What's new? Around 300 new projects, with more than almost 88,000 units between them, were launched in H1 – amounting to an average of 490 homes each day. With an 86% market share, apartments account for the vast majority of new launches. Some 17,300 residential units were completed in H1, with over 40% of all handovers in Jumeirah Village Circle, Sobha Hartland and Mohammed Bin Rashid City. Apartments accounted for more than 77%. Dubai has more than 61,800 units under construction for the rest of 2025, and more than 100,000 projected for delivery in 2026 and 2027. Ronan Arthur added: 'These projections suggest and average 9,000 units could be delivered every month through to 2027, but actual completion rates are expected to be lower, potentially leading to timeline shifts and delayed handovers. Currently, only 21% of projects scheduled for completion have reached 75% or more in construction progress, highlighting the possibility of a slippage in delivery timelines.' For media enquiries, please contact: Rebecca Rees at rebecca@ +971 50 658 7192. * All figures are approximate at the time of publishing. About Cavendish Maxwell Cavendish Maxwell is one of the Middle East's leading real estate advisory groups and property consultants, with offices in Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah, Kuwait City, Muscat and Riyadh. The company is a member of the Royal Institution of Chartered Surveyors (RICS) and offers a full range of property-related services, including valuation, strategic advisory, research, project and building consultancy and investment and commercial agency expertise. With a team of experienced professionals and a commitment to delivering exceptional service, Cavendish Maxwell has established itself as a trusted advisor in the regional real estate market.
Khaleej Times
11-06-2025
- Business
- Khaleej Times
Dubai realty defies global trends, eyes 300,000 new housing units by 2028
Dubai's residential real estate market continues to defy global trends, posting sustained growth in both sales volumes and values as the emirate retains its status as a leading destination for property investment. With 73,000 new homes slated for delivery by 2025 and an ambitious target of 300,000 units by the end of 2028, Dubai is undergoing one of the most significant residential expansions in its history, according to consultancy Cavendish Maxwell. Despite a slight quarter-on-quarter decline, the market remains firmly on an upward trajectory. In the first quarter of 2025, the city recorded 42,000 property sales transactions valued at Dh114.4 billion. While this marks a 10 per cent drop compared to the last quarter of 2024, it represents a striking 23 per cent increase from the same period in the previous year. Cavendish Maxwell's Director and Head of Residential Valuation, Ronan Arthur, noted that while prices began the year on a softer note, they are now stabilising. The average quarterly price increase stood at 2.8 per cent, down slightly from the 4 per cent average of 2023 and 2024, signaling a maturing market. Almost 95 new projects were launched in the first quarter of 2025, bringing an anticipated 29,000 residential units to the market. About 9,300 of these units were completed during the same period — the second-highest quarterly figure in two years. Apartments accounted for nearly 80 per cent of the completions, with villas and townhouses making up the rest. Jumeirah Village Circle (JVC) led all areas in both completions and transactions, adding 4,330 units and recording 3,330 apartment sales. Off-plan sales dominated activity, contributing Dh77.5 billion from 29,000 deals — roughly 70 per cent of all transactions and a 32 per cent increase year-on-year. The secondary market also showed resilience, with 13,200 transactions representing a 6.6 per cent annual rise. Apartments made up 75 per cent of total deals, though demand for larger homes is also increasing. Townhouses and villas represented 17 and 7 per cent of sales respectively, reflecting buyers' growing interest in more spacious living. Luxury properties saw a notable upswing as well, with 590 homes sold at prices above Dh20 million, up from 480 in the same period last year. A majority — 67 per cent — of these high-end sales were off-plan, indicating a strong appetite for new developments among affluent investors. By March 2025, the average property price had reached Dh1,535 per square foot, a 16 per cent year-on-year increase. V. Sivaprasad, chairman of Condor Developers, the prime property market continues to record steady surge in demand. 'The rise in the influx of wealthy buyers to Dubai continues to propel the luxury residential sector, defying general regional trends. Dubai's residential property market continues to flourish, driven by strong investor sentiment, a diversified demand base, and strategic planning. As the city evolves, developers and investors alike will need to navigate a more mature and dynamic landscape — one that increasingly rewards timely execution, smart planning, and long-term vision,' said Sivaprasad. Rental dynamics, however, are showing signs of moderation. Annual rent growth stood at 14.4 per cent, but only one per cent on a quarterly basis — the slowest pace in two years. This could be a result of the growing supply of new units and the implementation of the Dubai Smart Rental Index, which is expected to bring more transparency and structure to pricing. Average rental yields remain attractive: 7.3 per cent for apartments and five per cent for villas and townhouses. Some areas, such as Dubai Investments Park, International City, and Downtown Jebel Ali, are offering yields as high as 10.3 per cent for apartments, while Industrial City leads the villa segment at 6 per cent. Market optimism was further bolstered by record-breaking activity in May 2025. According to fäm Properties, Dubai saw property sales worth Dh66.8 billion during the month — a 49.9 per cent increase compared to May 2024. With 18,693 transactions, it became the second-highest month on record for volume. In contrast, May 2020 saw only Dh2.3 billion from 1,400 deals. This dramatic rise underscores the emirate's evolution into a global investment hub, fueled by economic stability and sustained interest from high-net-worth individuals. Despite concerns raised by some analysts over a potential 15 per cent price correction, industry leaders remain confident. fäm Properties CEO Firas Al Msaddi dismissed the fears, stating that the market is not headed for a downturn but merely entering a phase of more measured growth. With over 360,000 residential units in the pipeline for the next five years but only a fraction nearing completion, demand appears well positioned to absorb incoming supply.
Time of India
04-06-2025
- Business
- Time of India
Dubai to add 73,000 new homes in 2025 as property sales reach $31 billion
Dubai is set to expand its residential inventory with the delivery of 73,000 homes in 2025, taking the emirate closer to a total of 300,000 new units by the end of 2028, according to research from property consultancy Cavendish Maxwell. As reported by Arabian Business, Dubai recorded 42,000 property sales transactions valued at AED 114.4 billion ($31 bn) in the first quarter of 2025. Although this reflects a 10 per cent decline from the previous quarter, it marks a 23 per cent rise compared to the same period last year. 'Dubai's property market is on track for a modest annual increase in terms of sales volumes and values, but there are indications that prices are beginning to stabilise. 2025 began with a brief dip in prices per sq ft, followed by a steady recovery. While prices are still on the up, the pace is showing signs of slowing down. For example, the average quarterly price increase for 2023 and 2024 was 4 per cent, compared to a 2.8 per cent rise in Q1 this year against Q4 2024,' said Ronan Arthur, MRICS, Director and Head of Residential Valuation at Cavendish Maxwell. 'With a weakened US dollar, strong rental returns and appealing yields, Dubai continues to attract local and international property investors. We expect this trend to continue throughout the year,' Arthur added. Off-plan sales led the market with a 70 per cent share, amounting to AED 77.5 billion from 29,000 transactions — a 32 per cent increase year-on-year. Secondary market transactions stood at 13,200, reflecting a 6.6 per cent annual increase. Apartments comprised 75 per cent of all transactions, although interest in larger homes grew. Townhouses accounted for nearly 17 per cent of sales, while villas made up just over 7 per cent. Average property prices reached AED 1,535 per square foot, a 2.8 per cent quarterly increase and 16 per cent higher than in Q1 2024. The luxury segment saw 590 property sales priced above AED 20 million, up from 480 in the same period last year. Nearly 60 of those were for homes priced at AED 50 million or more. Arthur noted that off-plan sales made up 67 per cent of luxury transactions and nearly one-third of ultra-luxury sales. A surge in completions is expected in 2026 and 2027, with over 180,000 units scheduled for delivery. In Q1 2025, Jumeirah Village Circle (JVC) led all locations with 4,330 new units delivered. JVC also saw the highest number of apartment transactions at 3,330 — nearly 2,200 off-plan and 1,132 secondary market deals, reported Arabian Business. Mohammed Bin Rashid City followed with 1,037 units completed, ahead of Business Bay (743), Downtown Jebel Ali (647), and Rukan (636). Looking ahead, JVC is expected to receive almost 27,100 new units by 2028, trailed by Business Bay (19,470), Azizi Venice (17,100), DAMAC Lagoons (10,730), and Arjan (9,750). From January to March, apartments accounted for nearly 80 per cent of all completions. During the same period, 95 projects were launched, delivering around 28,600 new units. DAMAC Islands led off-plan villa and townhouse sales with 1,430 transactions, followed by The Valley, DAMAC Hills 2, Villanova, and DAMAC Lagoons. For secondary market sales in this segment, DAMAC Hills 2 topped the list with 318 deals, ahead of Al Furjan, Emirates Living, Reem, and JVC. Residential rents rose 14.4 per cent annually but showed only 1 per cent growth compared to Q4 2024 — the slowest quarterly rise in two years. 'This slower pace of growth could be partly driven by the influx of new units delivered in the first three months of the year, as well as the Dubai Smart Rental Index, introduced at the beginning of the year, which is likely to influence tenant expectations and price adjustments. With additional supply on the way, monitoring how rental trends evolve in response to increasing inventory and a shifting, regulatory framework will be crucial,' Arthur said. As of March 2025, rental yields averaged 7.3 per cent for apartments and 5 per cent for villas and townhouses. Dubai Investments Park offered the highest yields for apartments at 10.3 per cent, followed by International City (9.1%), Downtown Jebel Ali (9%), Dubai Production City (8.6%), Dubai Silicon Oasis (8.5%), Dubai Sports City (8.4%), and Liwan and International City Phase 2 (8.2% each). For villas and townhouses, Industrial City led with yields of 6 per cent, followed by JVC at 5.9 per cent, DAMAC Hills 1 and 2 (5.7%), International City and Serena (5.5%), Mudon and Villa Nova (5.4%), and Dubai Hills Estate (5.3%). Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
