Apartment segment takes the lead in Q3 sales JVC continues its top spot as the highest-performing neighbourhood Palm Jumeirah property sets new benchmark for highest sale Dubai, United Arab Emirates, 20 November 2024: The real estate market in Dubai continues to grow at an exponential rate, driven by increasing demand as an investment destination, relaxing land ownership regulations, the increasing inflow of expats to the Emirate and convenient payment plans offered by developers. Breaking records in standard Dubai style, sales of real estate in the third quarter of 2024 achieved an unmatched milestone, with a total value of almost AED 141.9 billion ($38.
7 billion). This surpasses the previous record of AED 124.07 billion ($33.
8 billion) set in the second quarter of this year, a 14.4% QoQ increase, making this the largest quarterly sales amount ever attained. This strong performance record is a 30.
1% value increase YoY, with first-sale properties taking the helm. The sustained demand for real estate in Dubai, especially from domestic and international investors, is demonstrated by this upsurge in activity which has been a consistent trend in the post-pandemic market. 50,423 sales transactions in the third quarter represented a 16.
6% increase QoQ and a 37.9% YoY increase in volume of sales. The apartment segment continued to lead the way, with 77% of all transactions in Q3 recording an impressive 39,054 sales transactions valued at around AED 70.
5 billion ($19.2 billion). This.