UAE Q1 2024, Market Watch Quarterly Residential Real Estate Insights
Abu Dhabi Highlights
• According to the Department of Municipalities and Transport’s
(DMT) data, during Q1 2024, the UAE’s capital witnessed a
decrease in the total sales transactions in both residential and
commercial types.
• The total number of transactions reached 2,145.
• During this period, the residential transactions reached 78% of
the total volume and around 64% of the total value.
• Regarding the transaction value, it amounted to AED 6.02 Billion,
while in Q1 2023, it reached AED 7.34 Billion, showing an 18%
decrease.
• In 2023, the real estate market witnessed a notable jump in
transactions, with a 75% increase, while sales value rose by
120% in the same period. This indicates a further increase in the
prices.
• According to the Department of Municipalities and Transport’s
(DMT) data, during Q1 2024, the UAE’s capital witnessed a
decrease in the total sales transactions in both residential and
commercial types.
• The total number of transactions reached 2,145.
• During this period, the residential transactions reached 78% of
the total volume and around 64% of the total value.
• Regarding the transaction value, it amounted to AED 6.02 Billion,
while in Q1 2023, it reached AED 7.34 Billion, showing an 18%
decrease.
• In 2023, the real estate market witnessed a notable jump in
transactions, with a 75% increase, while sales value rose by
120% in the same period. This indicates a further increase in the
prices.
Dubai Highlights
• According to DLD’s data, Dubai witnessed a notable increase
in total sales transactions during Q1 2024.
• It recorded 37,154 registered transactions; compared to Q1
2023, it witnessed 31,027 transactions, which is a
substantial increase of 20% and the highest performance for
a quarter ever recorded.
• This is driven by the outstanding performance of the off-plan
transactions.
• In Q1 2024, the existing/ready transactions contributed to
44.65% of the total sales transactions compared to 48.44%
in Q1 2023.
• The off-plan transactions contributed to 55.35% of the total
sales transactions compared to 51.56% in Q1 2023.
in total sales transactions during Q1 2024.
• It recorded 37,154 registered transactions; compared to Q1
2023, it witnessed 31,027 transactions, which is a
substantial increase of 20% and the highest performance for
a quarter ever recorded.
• This is driven by the outstanding performance of the off-plan
transactions.
• In Q1 2024, the existing/ready transactions contributed to
44.65% of the total sales transactions compared to 48.44%
in Q1 2023.
• The off-plan transactions contributed to 55.35% of the total
sales transactions compared to 51.56% in Q1 2023.
