Top Selling Real Estate Project in Dubai – January 2024

Real Estate Project

Dubai’s real estate market continued its upward trajectory in January 2024, with a significant increase in sales transactions and property values. According to Property Finder, there was a 17% year-on-year increase in recorded sales transactions, exceeding 11,000 compared to 8,712 in January 2023. The total value of transactions also surged by 27%, reaching nearly AED 35 billion.

Apartment Sales Lead the Charge

Apartment sales were the main driver of the market growth, increasing by 18.9% year-on-year. This growth was fueled by strong demand for mid-range apartments in popular communities such as Jumeirah Village Circle, Dubai Hills Estate, Palm Jumeirah, and Downtown Dubai. In contrast, villa sales saw a decline of 56.6%, likely due to the higher price point and limited supply of new villas.

Ready Properties vs. Off-Plan Properties

The market for ready properties remained stable in January, with prices remaining relatively flat. However, there was a growing interest in off plan properties, which offer investors the potential for higher returns. Off-plan sales transactions increased by 25% year-on-year, driven by attractive payment plans and developers offering incentives such as free service charges and post-handover rental guarantees.

Key Statistics:

Sales transactions: 11,000+ (17% YoY increase)
Property value: AED 35 billion (27% YoY increase)
Apartment sales growth: 18.9%
Villa sales decline: 56.6%
Off-plan sales growth: 25%

 

Highest Price Land Sales in January 2024

Area

Property Type

Amount

Horizon

Land

AED 1,531M

Trade Center First

Land

AED 900M

Silicon Oasis

Land

AED 816M

Madinat Dubai Almelaheyah

Land

AED 614M

Dubai Marina

Land

AED 400M

Best 5 Performing Areas – January 2024

Area

Count

Amount

Jumeirah Village Circle

1683

AED 1B

Business Bay

1254

AED 1.25B

Burj Khalifa

603

AED 1.34B

Jumeirah Lakes Towers

532

AED 702M

Dubai Land Residence Complex

500

AED 262M

Most Selling OFF Plan Apartments in January 2024

Area

Count

Amount

Elitz 3 By Danube

236

AED 259M

The Edge

199

AED 298M

Damac Casa

172

AED 700M

Club Drive

166

AED 379M

Avonlea

139

AED 329M

Most Selling OFF Plan Villas in January 2024

Area

Count

Amount

The Valley – Alana

72

AED 322M

Expo City Valley

47

AED 236M

California Village

31

AED 88M

Bianca

24

AED 29M

Al Barari Ixora Villas

21

AED 99M

Most Selling Ready Apartments in January 2024

Area

Count

Amount

Socio

98

AED 1.16B

RP Heights

74

AED 200M

Sky Courts

59

AED369M

Downtown Views II

40

AED 90M

Town Square Jenna & Warda

30

AED 63M

Most Selling Ready Villas in January 2024

Area

Count

Amount

Reem Townhouses

69

AED 121M

Parkside 2

46

AED 68M

Rukan 3

48

AED 31M

Elan

36

AED 93M

Noor Townhouses

28

AED 54M

 

Telephone

Email

Address

1505, Opal Tower Burj Khalifa Boulevard
– Business Bay – Dubai.

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