Dubai real estate market hits record $6.5 billion in October, driven by apartment sales

Dubai real estate market hits record $6.5 billion in October, driven by apartment sales

Dubai real estate market hits record $6.5 billion in October, driven by apartment sales

Dubai real estate market hits record $6.5 billion in October, driven by apartment sales

  • Tripti Rastogi
  • (0)
  • (543)
  • November 30, 2023

News, dubai real estate,property in dubai,real estate property in dubai

Description

Apartments were the most popular choice with 65 percent of sales, followed by villas/townhouses at 26 percent and commercial/other properties at 9 percent

Dubai’s real estate market reached a new all-time high in October with sales of AED 24.24 billion. This is according to a new report by real estate giant Inchbrick Realty

The secondary market led the way with 79 percent of total sales and an impressive 5,190 transactions.

Apartments were the top choice for buyers, accounting for 65 percent of sales, followed by villas/townhouses at 26 percent and commercial/other properties at 9 percent.

Dubai real estate market hits record $6.5 billion in October, driven by apartment sales

Affordable properties in Dubai's

  • With a 73.2 percent share of sales, properties priced below AED 3 million proved to be the most popular, indicating a strong demand for affordable housing options in the city, the report said.
  • The rental market also proved robust with 40,840 transactions. The market was dominated by apartment rentals, but villa and townhouse rentals were also very active.
  • Despite stable rental prices month-on-month, there has been a notable increase of 20 percent since October 2022, which indicates rising demand for rental properties.
  • Inch & Brick Realty reported a buoyant month with a notable increase in new customer sign-ups, which increased by 64 percent.
  • Residential listings also saw a healthy 36 percent increase in apartment listings, while viewings were up 20 percent.
  • Areas such as Dubai South and Jumeirah Village Circle are growing in popularity, with sales in the AED 3 to 5 million range skyrocketing 109 percent year-on-year.

Apartments that Show High cSales Figures

  • In addition, the highest sales figures were recorded for apartments in Downtown Dubai, Dubai Marina, and Dubai Hills, while villas/townhouses in The Springs, Arabian Ranches, and Reem were in high demand.
  • According to the report, there was an almost even split between buyers with cash and those with finance, with cash transactions having a slight advantage at 52 percent.
  • The rental market is showing signs of easing as landlords offer flexible payment terms and new rental opportunities have been created in the suburbs, giving tenants more options.
  • The overall market has seen a surge in demand, as evidenced by a significant increase in the number of new rental applicants and viewings.
  • Rental prices for villas/townhouses increased by 2.8 percent, while rental prices for apartments rose by 3.6 percent.

Loading blog data...

Popular Property


Tags

Real Estate event in Hyderabad

Expo in Hyderabad 2024

Top villa in Dubai

Tourist places in Dubai

Things to do in Dubai

New launch Projects in Dubai

New launch Property in Dubai

Ready To Move In

3BR Safi Townhouse For Sale

Damac Properties

Elegance Tower

Emaar The Cove

Dubai Creek Harbour

Emaar The Cove 2

Park Field Apartments

Madinat Jumeirah Living

Lamtara Apartments

Sobha Hartland

Crest Grande Tower

3-bedroom villas

Cascades Villas

4 bedroom premium apartments

Meraas Holding

Meraas Bluewaters Residences

Property Investment

Azizi Star Residential Apartments

Dubai Marina

Azizi Star

Villa Property for sale

Dubai Science Park

Opalz Apartments

duplex property for sale

townhouse property for sale

apartment property for sale

Eleganz by Danube

Viewz Residence

Jumeirah Village Triangle

Fashionz Apartments

Gemini Property Developers

Gemini Splendor Townhouses

Gemini Splendor Apartments

Gemini Splendor Apartments & Townhouses

Danube Properties

Al Warsan

Danube Petalz

Danube Properties

Al Furjan

Danube GEMZ

wealther in Dubai

Rainfall in Dubai

Bharat Mart

Bharat Mart in Dubai

Location in Dubai

Tourism place in dubai

Best Tourism Place in Dubai

BAPS hindu temple

Tourism Place in Dubai

Hindu temple

The Atria

Danubeproperties

Businessbay

Bayz101

Republic Day

Aljada Sharjah

2 bedroom apartments.

ARADA Developments

Apartments at Aljada Sharjah

Tiraz Apartments

real estate

Apartments and villas

Real Estate Transactions

Toursim place in Dubai

Visit place in Dubai

Best tourist place

The Dubai Mall

Burj Khalifa

Places to Visit in Dubai

Real Estate In Dubai

Dubai Real Estate Trends

Dubai Real Estate Market

Dubai Real Estate Investments

Dubai Real Estate

Dubai

Dubai's property market

off-plan properties in Dubai

Inchbrick

Top developer

Developers in Dubai

Property Developers in Dubai

Hyderabad Expo 2024

End-users

Developers

Real estate expo

investors

expo

Toursim place in Dubai

Transportation service

tourist

taxi service

Dubai taxi company

Dubai taxi

Dubai

Best tourists place

Tourist place

Modi

Lakshadweep

Best location in Dubai

Localities in Dubai

Dubai

buy apartment in Dubai

Real estate

Best tourism place in dubai

Dubai real estate

rent property in dubai

Rents in Dubai

Real estate

Dubai rent

Dubai

binghatti properties

Mercedes benz

Downtown Dubai

Dubai properties

Villa In Dubai

Property in Dubai

Dubai rental apartments

Burj khalifa

Real Estate agents

Apartment in Dubai

real estate investing

Investment in dubai

Property for investment

Jumeirah lake towers

Damac hills dubai

Dubai rental properties

Rent apartment in dubai

retirement visa in dubai

sell property in dubai

Rent property in dubai

Rera

property in dubai

real estate market

investment properties

Buy Property in dubai

invest in dubai

real estate developer in dubai

new launch project

bellevue tower

Bella rose

Dania apartment

prime view

dubai

Burj khalifa

top floor of the Burj Khalifa

safest place in dubai

cleanest city

dubai

Safest city in dubai

jumeirah beach

townhouse

downtown dubai

luxury homes

jumeirah bay

2br apartment

central park

city walk

central park at city walk

jumeirah beach

central park apartments

jumeirah bay

3br apartment

marina promenade

port de la mer

townhouses

sur la mer townhouses

3br townhouse

jumeirah bay

antonio citterio

downtown dubai

sheikh zayed road

jumeirah bay

bvlgari marina lofts

bvlgari marina

dubai skyline

jumeirah beach road

luxurious living

jumeirah bay

residences

bvlgari resort

arabian gulf

meraas holding

pearl jumeira

foreign investors

investment

elevate

apartment for sale in dubai

1 bedroom apartments

dubai flats

luxurious life

wilton park residence

1 bedroom apartments

apartments for rent

3 bedroom apartment

highbury

apartment

dubai property

luxurious lifestyle

mohammed bin rashid city

dubai real estate

apartments

arjan

leisure places

luxury apartments

belgravia

arjan

joya blanca residences

eaton

elegant homes

ellington properties

jumeirah village circle

eaton place

Zero-tax

Zero tax investment

waves grande

transportation system in Uae

Tower in Dubai

Top property in Dubai

The crest apartments

Tax-free Investment

Sobha Reserve in Dubai

Sobha Reserve

Sobha Realty

Sobha grande

Residency in Dubai free

real estate property in dubai

Real Estate Investment in Dubai

Real estate broker

Property in Dubai at cheapest Price

Property in Dubai

offplan property in dubai

off plan property in Dubai

Nakheel Properties

MEERAS

Investors in Dubai

Investores in Dubai

Invest in Dubai

inchbrick

Habtoor Tower in Dubai

Golden Visa

Get Dubai Golden Visa

Free golden visa in Dubai

Expo Golf villas

Emaar Properties

DUBAI REAL ESTATE

Dubai Property Market

Dreams Home in Dubai

Dream Home In Dubai

Deyaar Properties

Deyaar New Launch Mar Casa

Deyaar New Launch

Damac Properties

Creek palace aparments

BEST REAL ESTATE COMPANIES IN DUBAI

best real estate agent in Dubai

best property in dubai

Best property developer in Dubai

best areas to invest in dubai

Best Area to Buy Property in Dubai 2023

best apartments in dubai

Azizi Developments

Area to Buy Property in Dubai

Apartments in Dubai

apartments for sale in dubai

2 bedroom set property in dubai