Dubai’s property market is gearing up for a standout year, with sales expected to grow by 30% compared to 2023. According to recent data, September alone recorded over 18,000 transactions, breaking a previous monthly high achieved in May. With three months still left in the year, the market has already seen more than 131,000 transactions—nearly matching last year’s total.

The residential sector has been the driving force behind this growth, with apartments and villas seeing particularly high demand. In the luxury market, a five-bedroom apartment on Palm Jumeirah was sold for AED 275 million, making it the most expensive apartment sale of the year so far. On the other hand, more affordable neighborhoods like Dubai South continue to attract buyers with smaller budgets.

Henry Bacha, CEO of Property Monitor, described September 2024 as “a groundbreaking month,” reflecting the strength of Dubai’s real estate market. Prices have also inched upwards, with the average property price per square foot rising by over 1% from the previous month.

With steady demand and Dubai’s appeal as a global investment hub, the real estate market shows no signs of slowing down. Analysts believe the city’s strong infrastructure and investor-friendly policies will continue to fuel growth in the months ahead.