Property Monitor, a leading real estate research and data platform, reports that Dubai’s property market is experiencing unprecedented growth far beyond a post-pandemic recovery, Invest-Gate reports.

This surge reflects the proactive strategies and initiatives the UAE and Dubai governments implemented to boost the real estate sector.

According to Property Monitor, property sales activity is expected to quadruple by the end of 2024 compared to pre-pandemic levels. The market continues to show positive momentum, with steady price growth and record-high transaction volumes, driven by new project launches and more affordable mortgage rates.

Moreover, in its September report, Property Monitor highlighted an 11.7% increase in monthly sales transactions, totalling 18,038 transactions, the highest ever recorded for September and any month in Dubai’s history.

Residential transactions, including apartments, townhouses, and villas, accounted for 95.1% of the total, with commercial properties, such as office spaces and hotel apartments, making up the remainder.

Furthermore, annual sales volumes have now exceeded 131,000, just 1.9% shy of 2023’s total year-end figures, positioning the market to see a 30% year-on-year increase by the end of 2024. Additionally, over 13,500 off-plan units were introduced, with a total sales value of approximately AED 28.9 bn.

As new project launches continue at a historic pace, Property Monitor expects this growth trend to extend into 2025, with more diverse offerings across various price segments, supported by a broader range of developers entering the market.