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Dubai's property market witnessed sales worth AED51.1 billion during August, marking a year-on-year rise of 7.9%, with transaction volumes climbing 15.4% to 18,678. Apartment sales dominated activity with AED30.2 billion in value, reflecting a 29.2% increase in volume. While villa sales declined 38.1% in volume, average prices per square foot increased 15.2% to AED 1,720. Key districts such as Business Bay, Jumeirah Village Circle, and Jebel Ali First recorded the highest activity. The most expensive sale was a luxury villa on Palm Jumeirah, fetching AED161 million.
Dubai's real estate market recorded property sales totalling AED51.1 billion in August, representing a 7.9% rise compared with the same month last year. The total number of transactions reached 18,678, an increase of 15.4% year-on-year. Apartment sales led activity, generating AED30.2 billion, with volumes climbing 29.2% to 15,900 transactions. Advertisement
Commercial sales contributed AED1.2 billion, rising 20.4% year-on-year with 442 deals, while 392 plot sales worth AED8.9 billion reflected a 7.4% growth in volume. Villa sales stood at AED10.9 billion but declined 38.1% in volume to 1,944 transactions, though average property prices per square foot rose 15.2% to AED1,720. August marked the third-highest monthly transaction total of the year, behind July's 20,322 and May's 18,693.
Firas Al Msaddi, CEO of fäm Properties, observed that the overall figures highlighted the consistent strength of Dubai's property market, even during the summer months. He added that the city's sustained growth was reinforcing its reputation as a leading global investment destination, drawing strong international interest alongside steady regional and domestic demand.
Over the years, August sales have grown significantly, moving from AED4.7 billion across 2,500 transactions in 2020 to AED47.4 billion across 16,200 in 2024, reaching AED51.1 billion this year. Similarly, average prices per square foot have advanced from AED826 in 2020 to AED1,720 in the latest period.
Among top-performing areas, Business Bay recorded 1,695 transactions worth AED4.1 billion, Jumeirah Village Circle registered 1,584 sales worth AED2.1 billion, and Jebel Ali First achieved 1,068 transactions worth AED2.6 billion. Dubai Investment Park Second and Wadi Al Safa 5 also posted strong activity.
The highest-value individual deal was the AED161 million sale of a luxury villa on Palm Jumeirah, while the costliest apartment sale reached AED100 million at Selicon Star 2 in Nadd Hessa. Properties priced between AED1 million and AED2 million dominated activity, accounting for 39.8% of sales. First-time developer sales outpaced secondary re-sales, holding a 74% share by volume and 66% by value.
In terms of projects, Binghatti Skyrise led apartment first sales with 590 units worth AED956.2 million, while Grand Polo -Selvara 2 topped villa first sales at AED683.5 million. On the re-sale front, Azizi Riviera and Jumeirah Village Triangle recorded the highest apartment and villa transactions respectively.
The surge in average prices per square foot and strong performance in high-value areas such as Business Bay and Palm Jumeirah underlined investor confidence. With developer launches dominating and international buyers driving premium transactions, the city continues to strengthen its role as a global hub for property investment.
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