Dubai’s property market continues to excel, with prices reaching a record AED1,431 per square foot, an 18 percent increase from last year.
August saw 15,000 sales transactions totalling AED38.55 billion ($10.5 billion approximately), indicating robust demand despite limited supply, Betterhome said in a statement on Tuesday.
Off-plan properties dominated the market, accounting for 68 percent of all transactions. This segment saw 10,285 deals worth AED22.9 billion, the highest value ever recorded.
Dubai Marina tops apartment sales
Emaar led the off-plan sales with AED7.49 billion, followed by Sobha Group, Meraas, Ellington Properties, and East & West International Group.
In terms of transaction volume, Emaar again topped the list, followed by Sobha Group, Azizi, Samana Developers, and Danube.
Betterhomes reported average sale prices in August as:
- Apartments: AED1.51 million
- Townhouses: AED3.13 million
- Villas: AED8.30 million
The top locations for apartment sales were Dubai Marina, Business Bay, and Jumeirah Lake Towers. For villas, Reem, Damac Lagoons, and Arabian Ranches 3 led the sales.
Mortgage buyers dominated the market, accounting for 58 percent of all transactions, up from 51 percent in the previous month. Investors made up 60 percent of all buyers.
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