Dubai property sales hit AED44.4bn in January as market surges

By bne IntelliNews February 7, 2025

Dubai's property market recorded a strong start to 2025, with January sales reaching AED44.4bn ($12.09bn), marking a 24.1% increase from the same period last year, according to fäm Properties.

Increasing numbers of expatriates moving to the Emirate are the main driver of sales in the local real estate market.

The market saw 14,236 transactions last month, up 23.2% from January 2024. Land sales showed the most significant growth, with 811 plots selling for AED8.6bn, representing a 151.9% month-on-month increase in volume.

Villa sales totalled AED16.4bn with 3,117 transactions, an 89.6% volume increase year-on-year, while apartment sales reached AED18.2bn across 9,945 transactions, up 7.1%. Commercial property deals rose 17.9% by volume to 363 transactions worth AED1.2bn.

"The figures once more emphasise the strength of Dubai's real estate market and the consistent growth seen in recent years," said Firas Al Msaddi, CEO of fäm Properties. "This underlines Dubai's status as a secure destination for real estate investment."

Despite average prices per square foot falling 4% to AED1,550, they remain 81.2% higher than January 2020 levels. January property sales have surged 822% in value over five years, from AED4.8bn in 2020 to AED35.8bn in 2024.

The month's highest-value transaction was a Dubai Hills Estate luxury villa, selling for AED140mn.

#BNM #UnitedArabEmirates #UAE #Dubai #AbuDhabi #Sharjah #banking

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