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Real Estate

UAE’s Residential Market Thrives: Strong Performance Persists into Q1 2024

UAE’s Residential Market Thrives: Strong Performance Persists into Q1 2024

 

Dubai – May 15, 2024 – CBRE Middle East, the global leader in commercial real estate services and investments, released its latest edition of the UAE Residential Market Review for the first quarter of 2024.

 

In Abu Dhabi, during the first quarter of the year, the total volume of transactions stood at 2,795, registering a 22.6% increase compared to the year prior. This increase has been underpinned by an 18.1% rise in off-plan sales and a 34.5% rise in secondary market sales. In the year to Q1 2024, Abu Dhabi’s average apartment and villa prices increased by 4.3% and 2.3%, respectively.

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Real Estate

Transaction volumes in Dubai’s AED 5m+ residential market reached record levels in 2023, says CBRE

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Transaction volumes in Dubai’s AED 5m+ residential market reached record levels in 2023, says CBRE

CBRE releases its UAE Residential Market Notes – January 2024

Dubai – January 11, 2024 â€“ Sales of properties worth more than AED 5m and AED 10m in Dubai hit record levels in 2023, reaching 10,296 and 3,806, up 54.5% and 68.4% from a year earlier, respectively. Off-plan sales in both segments of the market have been the primary drivers of activity, where, in the AED 5m+ and AED 10m+ segments of the market, off-plan sales accounted for 67.2% and 70.8% of total transaction volumes, respectively. The level of demand has been such that the vast majority of sales in these two segments have occurred in relatively nascent developments, where many of these developments are still only emerging as prime locations.

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