Dubai real estate reaches new heights with record sales in September 2024, marking the highest monthly sales ever with over 18,038 transactions, a new all-time monthly high in September, surpassing the previous record of 17,139 set in May this year, thereby highlighting continued growth and confidence in the sector.

This impressive performance is largely driven by a strong demand for off-plan properties, which made up nearly 73% of the total sales. Developers such as Emaar, Damac, and Sobha have been key players in fueling this surge. Contributing factors include a favorable economic environment, stable mortgage rates, and the city’s reputation as a safe investment destination.

The market’s performance reflects a continued upward trajectory that has been developing throughout the year. Dubai’s property sales are on track for a projected 30% year-on-year increase, indicating sustained growth. The demand for off-plan projects in particular shows no signs of slowing down, with buyers eager to capitalize on future developments and flexible payment plans offered by major developers.

The luxury property market, in particular, has experienced significant growth, driven by an influx of  investors and end-users alike. Additionally, supportive government policies, including initiatives aimed at attracting foreign investors and long-term residency visas, have further bolstered confidence in Dubai’s property market. The positive momentum is expected to continue, with a significant pipeline of new projects scheduled to hit the market in the coming years, keeping the market vibrant and competitive.

As Dubai continues to evolve as a global real estate hub, both local and international investors remain optimistic about the city’s potential for future growth. The combination of strategic investments, world-class infrastructure, and favorable business conditions solidifies Dubai’s position as one of the most dynamic property markets globally.

In conclusion, September 2024 has set a remarkable precedent for Dubai’s real estate sector. With ongoing investments and a promising outlook, the market is poised to achieve further success, offering a wealth of opportunities for buyers, investors, and developers alike.