Dubai Commercial Real Estate Market Report - October 2024

 

✅ Off-plan sales accounted for 72.6% of total sales, with continued demand for properties under construction.
✅ Resales comprised 31.2% of the market, with a slight decrease in activity compared to the previous month.
✅ A record-breaking 99,000 new residential units were launched year-to-date, with 15,000 units introduced in October alone.
✅ Over 250 additional projects are in planning, signaling continued supply growth through 2024 and into 2025.
✅ Mortgage activity reached an all-time high with 4,318 loans, indicating growing reliance on financing.
✅ Average loan value stood at AED 1.75 million with a loan-to-value ratio of 76.5%.
✅ Properties in the AED 1–3 million range dominated, accounting for 52.3% of market share.
✅ Luxury properties priced over AED 10 million also saw growth, with 644 transactions recorded.