Dubai real estate market sees robust November with AED40B (USD10.89B) in sales

(MENAFN) Dubai's real estate sector has experienced another active month, with 13,502 property transactions totaling AED40 billion (USD10.89 billion) in November.

A market report released today by fäm Properties revealed that apartment sales reached AED19.9 billion (USD5.42 billion), marking a 31.2 percent increase in volume to 10,857 units compared to the same month last year.

November also saw 1,903 villa sales valued at AED10.2 billion (USD2.77 billion), along with 387 plot sales worth AED8.1 billion (USD2.21 billion), although the volumes dropped by 35.8 percent and 39.6 percent, respectively, compared to November 2023.

In addition, 354 commercial property deals amounted to AED1.3 billion (USD354.47 million), reflecting a 5 percent growth in volume over November 2023.

While it was the most subdued month since April in terms of overall sales value and volume in this record-breaking year, the total number of transactions still rose by 10.5 percent compared to last November.

The average price per square foot also continued its steady increase, rising by 8.8 percent to AED1,497 (USD408.38) from AED1,373 (USD373.88) last November, following previous month-to-month growth from AED923 (USD250.85) in 2020, AED1,115 (USD303.86) in 2021, and AED1,310 (USD356.76) in 2022.

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