Dubai Real Estate Market Report Q1 2024

Dubai Real Estate Market Report Q1 2024

Dubai continues to be the real estate hot spot as investors snatch up 36,506 total property sale transactions in the first quarter of 2024, making it the second-highest first-quarter sales on record. Q1 2024 sales have opened up to strong demand for the upcoming and existing projects in Dubai. 


In Q1 of 2024, Dubai's real estate market experienced a 17.5% increase as compared to 2023 Q1. The total sales value of 2024 Q1 increased 21.9% worth 108.5B AED as compared to Q1 2023. This period demonstrates how fast the Dubai real estate market is growing. The table below shows the property types with their sales value and percentages. 



Property Type

  Total Units 

  Q1 2024 vs. Q1 2023

 Sales Value



🔺24.7% vs. Q1 2023

AED 55.3B



🔻- 9.4% vs. Q1 2023

AED 20.5B



🔺9.4% vs. Q1 2023

AED 1.9B



🔺2.1% vs. Q1 2023

AED 30.8B


Property prices changes 

Q1 2024 reports generated by Dubai Land Department and DXB Interact show that off-plan apartments, villas, and ready apartments prices are on an increasing trajectory in 2024 in comparison with plots and ready villas prices. 


Property Type


2024 vs. 2023

Off-plan apartment

AED 1.3M


Off-plan villa

AED 2.9M



AED 4.4M


Ready apartment

AED 1.1M


Ready villa

AED 2.8M



Top 5 Performing Areas in Dubai Q1 2024

In terms of sales volume, the top 5 performing areas are 


  1. Jumeirah Village Circle (JVC)

  2. Business Bay

  3. Madinat Dubai Al Melaheyah

  4. Dubai Marina

  5. Al Merkadh



Sale Volume 

Sale Value


Jumeirah Village Circle (JVC)

3774 Transactions

AED 3.5 B


Business Bay

2872 Transactions

AED 6.1 B


Madinat Dubai Al Melaheyah

2101 Transactions

AED 4.1 B


Dubai Marina

1744 Transactions

AED 6.1 B


Al Merkadh

1729 Transactions

AED 2.4 B



Property sales volume in the Q1 2024

Number of property sales transactions in Dubai over the years based on the Dubai Land Department


Dubai real estate sales are booming

In Q1 2024  existing/ready market increased its market share to 54% of the total transactions; this performance indicates a substantial volume growth of 30% compared to Q1 2023. Meanwhile, off-plan properties represent 46% of the total transaction volume compared to 52% of the total transactions in Q1 2023.

Off-plan transactions recorded a growth year-on-year surge of 4% in terms of volume.


This is currently the golden opportunity to buy off-plan and ready-to-move properties in Dubai. If you are looking for where to invest or buy property, CIELO is dedicated to guiding you in finding the perfect property that meets your needs and requirements.