{"id":16639,"date":"2024-08-02T12:18:33","date_gmt":"2024-08-02T08:18:33","guid":{"rendered":"http:\/\/sevenluxuryrealestate.com\/?p=16639"},"modified":"2024-08-02T12:27:53","modified_gmt":"2024-08-02T08:27:53","slug":"dubai-real-estate-property-sales-reach-record-usd-13-5-billion-in-july-2024","status":"publish","type":"post","link":"https:\/\/sevenluxuryrealestate.com\/tr\/2024\/08\/02\/dubai-real-estate-property-sales-reach-record-usd-13-5-billion-in-july-2024\/","title":{"rendered":"Dubai Real Estate: Property Sales Reach Record USD 13.5 Billion in July 2024"},"content":{"rendered":"\n

Dubai Real Estate<\/a> market achieved unprecedented growth in July 2024, with total sales reaching AED 49.6 billion, reflecting a 31.63% increase compared to the same period last year, according to a recent Dubai real estate market report.<\/p>\n\n\n\n

The number of transactions soared to 15,994, marking a 43.2% increase in volume from July 2023. Apartments in Dubai<\/a> sales experienced the most significant growth, with 12,429 units sold for AED 22.3 billion, a remarkable 59.1% increase from the previous month.<\/p>\n\n\n\n

Villas in Dubai<\/a> sales also demonstrated positive momentum, increasing by 8.6% year-on-year, with 2,336 units sold for AED 14.3 billion. Commercial property transactions rose by 27.4% in volume, totaling AED 869.5 million for 386 properties. Despite a 6.5% decrease in plot sales volume compared to last year, they generated AED 12.1 billion from 843 plots.<\/p>\n\n\n\n

Highlighting the month\u2019s significant transactions, a villa at Eome Residences, Palm Jumeirah<\/a>, sold for AED 103 million, making it the most expensive individual property sale in July. The highest-priced apartment sold for AED 77 million at Orla Infinity By Omniyat on Palm Jumeirah.<\/p>\n\n\n\n

Jumeirah Village Circle<\/a> emerged as the top-performing area, with 1,265 transactions worth AED 1.3 billion. The best-selling off-plan<\/a> project was Palace Residences<\/a> at Dubai Hills Estate<\/a>, with 915 apartments sold for a total of AED 2.3 billion. Greenway at Dubai South led the off-plan villa market, with 114 units sold for AED 406.6 million.<\/p>\n\n\n\n

Off-plan<\/a> sales dominated the market, accounting for approximately 67% of the total value and 66% of the volume. The majority of sales (61%) were for properties priced between AED 1-3 million, while 10% were for properties worth over AED 5 million.<\/p>\n\n\n\n

These figures underscore the robust nature of Dubai Real Estate<\/a> market and the sustained growth that continues to build investor confidence. July\u2019s sales outpaced June\u2019s figures of 14,370 properties worth AED 46.48 billion, previously the highest for 2024.<\/p>\n\n\n\n

Published On: 2 Aug 2024<\/p>\n\n\n\n

Source: https:\/\/www.arabianbusiness.com\/industries\/real-estate\/dubai-real-estate-property-sales-hit-record-aed13-5bn-in-july-2024<\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai Real Estate market achieved unprecedented growth in July 2024, with total sales reaching AED 49.6 billion, reflecting a 31.63% increase compared to the same period last year, according to a recent Dubai real estate market report. The number of transactions soared to 15,994, marking a 43.2% increase in volume from July 2023. Apartments in […]<\/p>\n","protected":false},"author":1,"featured_media":16641,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[142,173,67,5],"tags":[],"class_list":["post-16639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dld","category-dubai","category-news","category-real-estate"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/posts\/16639","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=16639"}],"version-history":[{"count":0,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/posts\/16639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/media\/16641"}],"wp:attachment":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/media?parent=16639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/categories?post=16639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/tags?post=16639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}