Welcome to the esteemed quarterly report from Morgan’s International Realty, your indispensable resource for navigating Dubai's property market. As you explore the pages of this report, you will discover an abundance of carefully curated data, insights, and expert analysis gathered from a comprehensive network of reliable sources. This report provides a wide-ranging view of market performance, pricing trends, in-demand communities, and numerous other essential factors influencing the property landscape. We invite you to immerse yourself in this wealth of information, equipping you with the knowledge to make well- informed decisions in the ever-evolving Dubai property market. Our team of world-renowned consultants stands ready to serve you, offering unparalleled expertise and guidance to ensure your success in this vibrant sector.

Key Takeaways

  • Record Transaction Volume:Achieved the best quarter ever with 47,663 residential units sold.
  • Total Transaction Value:Residential transactions totaled AED 130.69 billion.
  • Mortgage Registrations:Saw a 10% increase in mortgage registrations quarter-on-quarter (QoQ), despite anticipated interest rate drops. Cash transactions decreased by 10% QoQ.
  • Primary Market Dominance:Properties under construction accounted for 64% of sales, representing 36% of the total transaction value.
  • Primary Market Dominance:Properties under construction accounted for 61% of sales, representing 44% of total transaction value.
  • Off-Plan Sector Surge:Off-plan property transactions increased by 20% QoQ and 107% year-on-year (YoY).
  • New Project Launches:Launched 104 new projects, adding 24,241 units to the inventory.
  • Resale of Off-Plan Properties:Represented 8% of primary market transactions, indicating healthy and consistent numbers.
  • Secondary Market Stability:Ready properties saw a 6% increase QoQ and a 3% increase YoY.
  • Prime Property Trends:Sold 1,080 properties valued above AED 10 million during this quarter.
  • Most Expensive Transactions:A 5-bedroom apartment in The One at Palm Jumeirah sold for AED 275 million, and a customized mansion in The Fronds-Palm Jumeirah sold for AED 216 million.
  • Robust Development Pipeline:690 projects are under construction, comprising 197,996 units scheduled for delivery by 2029.
  • Top Construction Areas:Jumeirah Village Circle with 23,225 units and Business Bay with 16,292 units under construction.

Fill out the form to download the full report