{"id":15615,"date":"2024-06-28T10:37:12","date_gmt":"2024-06-28T06:37:12","guid":{"rendered":"http:\/\/sevenluxuryrealestate.com\/?p=15615"},"modified":"2024-06-28T10:37:15","modified_gmt":"2024-06-28T06:37:15","slug":"dubai-real-estate-experiences-record-breaking-sales-in-may-2024","status":"publish","type":"post","link":"https:\/\/sevenluxuryrealestate.com\/tr\/2024\/06\/28\/dubai-real-estate-experiences-record-breaking-sales-in-may-2024\/","title":{"rendered":"Dubai Real Estate Experiences Record-Breaking Sales in May 2024"},"content":{"rendered":"\n<p>The <a href=\"https:\/\/sevenluxuryrealestate.com\/\" target=\"_blank\" rel=\"noopener\" title=\"Home Page LIVE\">Dubai property<\/a> market witnessed exceptional activity in May 2024, according to a recent report by Property Monitor, a subsidiary of Cavendish Maxwell Group. Total sales transactions reached a staggering 17,139, surpassing the previous record set in April 2009 by over 20%.<\/p>\n\n\n\n<p>Analysts at Cavendish Maxwell anticipate continued high transaction volume throughout Q2, with minimal seasonal slowdown typically experienced during the summer months. Zhann Jochinke, Director of Market Intelligence and Research, commented, &#8220;We expect the market to maintain its momentum as we approach the close of Q2 and enter the summer period.&#8221;<\/p>\n\n\n\n<p>While price growth moderated compared to March and April, with the Dynamic Price Index rising by a modest 0.69% in May, property values remain at historic highs. Current prices are a remarkable 10.25% above the previous peak recorded in September 2014.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" style=\"font-size:31px\"><strong>Off-Plan Market Surges<\/strong><\/h2>\n\n\n\n<p><a href=\"https:\/\/sevenluxuryrealestate.com\/dubai-luxury-offplan-projects\/\" target=\"_blank\" rel=\"noopener\" title=\"Off Plan\">Off-plan<\/a> transactions dominated the market in May, accounting for 61.8% of all sales. When adjusted for registration types, the true off-plan market share is estimated to be even higher, at approximately 66.7%. Both <a href=\"https:\/\/sevenluxuryrealestate.com\/dubai-luxury-offplan-projects\/\" target=\"_blank\" rel=\"noopener\" title=\"Off Plan\">off-plan<\/a> and <a href=\"https:\/\/sevenluxuryrealestate.com\/dubai-properties-for-sale\/\" target=\"_blank\" rel=\"noopener\" title=\"For Sale\">secondary <\/a>markets experienced a significant increase in activity of around 48% compared to April.<\/p>\n\n\n\n<p>Emaar Properties emerged as the leader in off-plan sales, followed by Sobha and Azizi Development. The AED 2-3 million price bracket witnessed the most significant price growth, driven by new developments like Lillia in Dubai Hills and Sobha One in Dubai.<\/p>\n\n\n\n<p>Furthermore, mortgage borrowing surged by a substantial 57.9% compared to April, marking the second-highest monthly figure on record. This indicates continued accessibility of financing despite rising interest rates.<\/p>\n\n\n\n<p>Published on: 28 Jun 2024<\/p>\n\n\n\n<p>Source: https:\/\/www.arabianbusiness.com\/industries\/real-estate\/dubai-real-estate-property-market-hits-record-breaking-sales-transactions-in-may<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Dubai property market witnessed exceptional activity in May 2024, according to a recent report by Property Monitor, a subsidiary of Cavendish Maxwell Group. Total sales transactions reached a staggering 17,139, surpassing the previous record set in April 2009 by over 20%. Analysts at Cavendish Maxwell anticipate continued high transaction volume throughout Q2, with minimal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15617,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[173,67,5],"tags":[],"class_list":["post-15615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dubai","category-news","category-real-estate"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/posts\/15615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/comments?post=15615"}],"version-history":[{"count":0,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/posts\/15615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/media\/15617"}],"wp:attachment":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/media?parent=15615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/categories?post=15615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/tags?post=15615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}