Dubai’s Real Estate Market Surges in April 2024
Dubai’s real estate market experienced a significant surge in April 2024, leading to a 45.11% increase in registered sales transactions compared to the previous year. This growth resulted in a total of 11,607 transactions worth 32 billion dirhams in the first quarter of 2024, representing an impressive 21.13% increase from the same period last year.
According to data from Property Finder, potential buyers in April were primarily interested in residential apartments (58%) and villas or independent homes (42%). In contrast, renters searched mainly for apartments (79%), reflecting a strong demand for apartment properties compared to previous months.
Within property types, certain preferences emerged among buyers and renters. Three-bedroom villas remained popular, while tenants preferred ready-furnished apartments over unfurnished options.
Certain areas in Dubai attracted particular attention from buyers, renters, and investors alike. For those interested in owning villas, popular choices included Dubai South, Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, and Al Furjan. On the other hand, apartment seekers gravitated towards areas like Dubai Marina, Downtown Dubai, Jumeirah Village Circle, Business Bay