Dubai Property Sales in November: Key Figures
Dubai’s real estate market showed no signs of slowing down in November, delivering yet another robust performance. With 13,502 property transactions totaling an impressive AED40 billion, the city continues to cement its position as a global real estate powerhouse.
Apartments Lead the Charge
Apartment sales dominated the scene, racking up AED19.9 billion in value—a remarkable 31.2% increase in volume compared to November last year, with 10,857 units sold. Villas followed with 1,903 transactions worth AED10.2 billion, and plots saw 387 sales totaling AED8.1 billion. While villa and plot sales volumes dipped by 35.8% and 39.6%, respectively, the market maintained an overall upward trajectory.
A Steady Climb in Property Values
Property prices per square foot rose steadily, hitting AED1,497—an 8.8% increase from AED1,373 in November 2023. This marks a continuous upward trend since AED923 in 2020, underscoring the market’s strength and the city’s global appeal.
Top Transactions & Star Performers
The standout sale of the month was a luxury apartment at Six Senses Residences, Palm Jumeirah, which changed hands for an astonishing AED130 million.
The top-performing areas included:
- Jumeirah Village Circle: 1,528 transactions worth AED1.6 billion
- Dubai Marina: 838 transactions totaling AED3.1 billion
- Business Bay: 809 transactions worth AED2.7 billion
- Jumeirah Village Triangle: 717 transactions at AED596.9 million
- Wadi Al Safa 5: 672 transactions totaling AED569.9 million
Off-Plan & Ready Market Highlights
- Off-Plan Stars:
- Vida Residences Club Point topped off-plan apartment sales with 227 units worth AED536.4 million.
- Greenridge Villas led the off-plan villa market with 113 units sold for AED374.8 million.
- Ready Market Leaders:
- Maya 3 topped ready apartment sales with 103 transactions worth AED52.7 million.
- Mag Eye Phase 1 led ready villa sales with 14 properties sold for AED44.1 million.
Market Dynamics
Developer first sales accounted for 56% of the transaction volume and 52% of the value, outpacing the re-sales market. Interestingly, 8% of transactions involved properties valued above AED5 million, while the AED1 million to AED2 million range accounted for 32% of sales—a sweet spot for mid-market buyers.
A Resilient Market with Promising Growth
“Dubai’s real estate market continues to demonstrate exceptional strength, driven by sustained investor confidence and the city’s global appeal,” said Firas Al Msaddi, CEO of fam Properties.
Even as November recorded the most moderate activity since April, total transaction volume still grew by 10.5% year-over-year, showcasing the market’s resilience and steady demand.
Ready to Take the Leap?
Whether you’re looking to invest in Dubai’s thriving property market or searching for your dream home, there’s no better time to get started. Contact us today to discuss your next property and make your vision a reality.