Dubai real estate’s Incredible October shattered records with more transactions, mortgages and off-plan boost; 30% uplift expected by year-end.
- According to Property Monitor, Dubai broke four records in October: all-time high prices at AED 1,473 per square foot, more than 20,000 transactions (20,460) in a single month for the first time in Dubai’s history, more than 4,300 mortgages secured, 15,000 new off-plan units launched.
- Property Monitor stated that 2024 is likely to close with 30% year-on-year sales growth as the market is set to grow further into 2025.
- The median cost of an apartment in October was AED 1.271 million ($3460,000); a townhouse AED 2.885 million ($786,000) and a villa AED 7.298 million ($ 2 million)