6335 Ready property deals worth 28 billion dirhams in Dubai during November, with a 60% growth
6335 ready property deals worth 28 billion dirhams in Dubai during November, with a 60% growth
revealed that 6335 ready property deals worth 28 billion dirhams took place in Dubai during November, marking a 60% growth. According to the Dubai Land Department data, the real estate sales witnessed a significant surge, reaching nearly 42 billion dirhams, a notable 36% increase compared to the same month last year. In terms of apartment rentals, the November search focused 66% on one and two-bedroom units (36% for one-bedroom and 30% for two-bedroom), with 24% searching for studios. For villas and townhouses, 77% of the search concentrated on 3 and 4-bedroom units (42% for 3 bedrooms and 35% for 4 bedrooms). Additionally, 66% of tenants were looking for furnished units, while 32% sought unfurnished options. Preferences for villa and townhouse renters showed that 51% chose unfurnished units, compared to 48% who preferred furnished properties.
Ready properties played a significant role in supporting the upward trend in Dubai's real estate in November, capturing 52% of the total sales and 67% of the total sales value. The number of ready property sales increased by 10% annually, reaching approximately 6,335 transactions, compared to 5,749 transactions in November 2022. This increase was reflected in the value of ready properties, which rose by nearly 60%, reaching 28 billion dirhams, compared to 17 billion dirhams in November of the previous year.
Ten key areas in Dubai contributed to around 53% of the total sales value and 41% of the total transactions. These areas include Palm Jumeirah, Muhaisnah 2, Burj Khalifa, Jumeirah Palm, Business Bay, Dubai Maritime City, Airport City, Jumeirah Village Circle, Dubai Marina, and Falcon City of Wonders. In November 2023, the most searched areas for buying apartments were Dubai Marina, Downtown Dubai, Jumeirah Village Circle, Business Bay, and Palm Jumeirah. On the other hand, the search for apartments for rent focused on Dubai Marina, Jumeirah Village Circle, Downtown Dubai, Business Bay, and Jumeirah Lake Towers.
As for villas or townhouses for rent, the researchers showed great interest in areas such as Dubai Hills Estate, Damac Hills 2, Jumeirah, Al Barsha, and Arabian Ranches. In contrast, those searching for villas or townhouses for rent focused on areas like Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, Mohammed Bin Rashid City, and Damac Hills Akoya. If you are interested, you can find properties
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