Dubai Real Estate Market Surges in April 2024: Key Trends and Popular Areas
Dubai Real Estate Market Booms in April 2024: Key Trends
The real estate market in Dubai experienced a significant surge in growth, leading to a 45.11% increase in registered sales transactions compared to the previous year. This boom resulted in 11,607 transactions totaling 32 billion dirhams in the first quarter of 2024, marking a 21.13% increase from the same period in 2023.
According to data from Property Finder, potential buyers and renters focused on different property types. In April, 58% of potential buyers were interested in residential apartments, while 42% were drawn to villas or independent homes. Conversely, renters searched for apartments more frequently than any other property type, with just over three quarters of renters looking for apartments specifically.
Within property types, there were specific preferences among buyers and renters. For example, interest in three-bedroom villas remained high throughout the month of April. Additionally, tenants preferred ready-furnished apartments while those searching for villas opted for unfurnished properties.
Certain areas in Dubai attracted more attention from buyers, renters, and investors alike during this period. For those interested in owning villas, popular choices included Dubai South, Dubai Hills Estate
