Dubai property market report: Q1 2024
32,972 residential sales worth AED 79.4bn, with ready apartments selling at a median AED 1,238 per sqft. Real recorded transactions from the Dubai Land Department, not asking prices.
Data to 25 September 2026 · residential sales · calendar quarterQ1 2024 at a glance
- Dubai recorded 32,972 residential sales in Q1 2024, worth AED 79.4bn. Sales volume was up 20.3% on Q1 2023, and up 9.9% on Q4 2023.
- Off-plan sales made up 58.4% of transactions (+2.3 percentage points versus Q1 2023).
- Ready apartments sold at a median AED 1,238 per sqft, up 9.7% on Q1 2023. Off-plan apartments sold at AED 1,802 per sqft, up 4.5% on Q1 2023.
- Ready villas and townhouses sold at a median AED 1,118 per sqft, up 27.5% on Q1 2023, with a median price of AED 2.97M.
- By sales value, Business Bay led with AED 5.6bn, followed by Jumeirah Village Circle and Dubai Maritime City.
- Oceanz 2 By Danube was the most active project with 497 sales.
- Lenders registered 7,759 mortgages worth AED 26.5bn (all property types), up 49.5% on Q1 2023.
- Among areas with at least 20 ready-apartment sales in both periods, Jaddaf Waterfront had the biggest rise in price per sqft year on year (+60.5%), while Dubai World Central fell the most (-18.5%).
Prices
Sales per quarter
Residential sales transactions, last 8 quarters.
Sales value per quarter
AED billion, last 8 quarters.
Ready apartment price per sqft
Median AED per sqft, existing properties only.
Off-plan share of sales
Percentage of transactions.
What buyers bought
Sales by price band
Share of Q1 2024 residential sales.
Apartments by bedrooms
All apartment sales, ready and off-plan.
| Bedrooms | Sales | Median price | AED / sqft |
|---|---|---|---|
| 1 bed | 12,301 | AED 1.15M | 1,540 |
| 2 bed | 7,207 | AED 2.1M | 1,730 |
| 3 bed | 1,904 | AED 3.7M | 1,961 |
| 4 bed | 213 | AED 9.5M | 2,783 |
| Studio | 5,735 | AED 624,000 | 1,535 |
Top areas by sales value
Prices for every area →| Area | Sales | Total value | Median price | Off-plan |
|---|---|---|---|---|
| Business Bay | 2,412 | AED 5.6bn | AED 1.56M | 58% |
| Jumeirah Village Circle | 3,804 | AED 3.8bn | AED 845,000 | 69% |
| Dubai Maritime City | 1,809 | AED 3.8bn | AED 1.67M | 100% |
| Palm Jumeirah | 308 | AED 3.6bn | AED 4.64M | 32% |
| Downtown Dubai | 910 | AED 3.2bn | AED 2.43M | 34% |
| Dubai Harbour | 483 | AED 2.8bn | AED 4.5M | 84% |
| Dubai Hills Estate | 980 | AED 2.0bn | AED 1.67M | 58% |
| Dubai Creek Harbour | 772 | AED 1.9bn | AED 2.5M | 60% |
| Dmcc Master Community | 946 | AED 1.9bn | AED 1.54M | 55% |
| Mudon | 548 | AED 1.9bn | AED 2.93M | 91% |
Most active projects
| Project / building | Sales | Median AED / sqft | Off-plan |
|---|---|---|---|
| Oceanz 2 By Danube | 497 | 2,748 | 100% |
| 330 Riverside Crescent | 485 | 2,295 | 100% |
| Address Residences Zabeel | 470 | 2,820 | 100% |
| Oceanz 1 By Danube | 390 | 2,689 | 100% |
| Elitz 3 By Danube | 348 | 1,636 | 100% |
| Grove | 290 | 1,202 | 100% |
| Club Drive | 259 | 2,221 | 100% |
| Sportz By Danube | 249 | 1,550 | 100% |
| The Edge | 248 | 2,246 | 100% |
| Mudon Al Ranim 7 | 246 | 1,378 | 100% |
Biggest price movers, year on year
Median price per sqft of ready properties in Q1 2024 versus Q1 2023, for areas with at least 20 sales in both periods.
Apartments: biggest rises
| Area | Sales | AED / sqft | Year on year |
|---|---|---|---|
| Jaddaf Waterfront | 53 | 1,365 | ▲ +60.5% |
| International City Phase 3 | 113 | 762 | ▲ +57.6% |
| Majan | 47 | 829 | ▲ +48.7% |
| International Media Production Zone | 246 | 883 | ▲ +35.8% |
| Discovery Gardens | 139 | 777 | ▲ +35.6% |
| The Greens | 145 | 1,506 | ▲ +33.7% |
Apartments: biggest falls
| Area | Sales | AED / sqft | Year on year |
|---|---|---|---|
| Dubai World Central | 49 | 798 | ▼ -18.5% |
| Um Suqaim Third | 32 | 2,665 | ▼ -0.9% |
| La Mer | 30 | 2,650 | ▼ -0.3% |
Villas and townhouses: biggest rises
| Area | Sales | AED / sqft | Year on year |
|---|---|---|---|
| Jumeirah Village Circle | 108 | 1,218 | ▲ +45.3% |
| Nad Al Shiba First | 27 | 1,918 | ▲ +34.2% |
| Emirates Living | 102 | 1,245 | ▲ +27.6% |
| Wadi Al Safa 5 | 117 | 1,167 | ▲ +27.4% |
| Town Square | 101 | 1,075 | ▲ +27.1% |
| Arabian Ranches - 1 | 84 | 1,020 | ▲ +26.3% |
Villas and townhouses: biggest falls
| Area | Sales | AED / sqft | Year on year |
|---|---|---|---|
| Jumeirah Village Triangle | 45 | 576 | ▼ -7.0% |
| Arabian Ranches 3 | 45 | 1,443 | ▼ -0.2% |
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Frequently asked questions
How many residential properties were sold in Dubai in Q1 2024?
Dubai Land Department recorded 32,972 residential sales worth AED 79.4bn in Q1 2024.
What was the average price per sqft for Dubai apartments in Q1 2024?
The median price of ready (existing) apartments was AED 1,238 per sqft, and off-plan apartments sold at a median AED 1,802 per sqft.
Which Dubai areas had the highest sales value in Q1 2024?
By total sales value the top areas were Business Bay, Jumeirah Village Circle and Dubai Maritime City.
How much of the Dubai market was off-plan in Q1 2024?
Off-plan properties accounted for 58.4% of residential sales transactions.
Other reports
All reports →Source: Dubai Land Department open transaction data, residential sales registered up to 25 September 2026 (apartments, hotel apartments, villas, townhouses and residential land), grouped by calendar quarter of the transaction date. Prices per sqft are medians; ready (existing) and off-plan sales are shown separately because they are priced differently, and sales under AED 250 per sqft are ignored. Total value excludes single transactions above AED 300 million. Villa, townhouse and plot prices per sqft use the registered unit or plot area. Area and project names follow Dubai Land Department records. Mortgage figures cover all property types. Recent quarters are preliminary because the Dubai Land Department adds transactions after the fact. This is market information, not a valuation or financial advice.
