Dubai real estate market figures from July 2024
International investor interest in Dubai's real estate market continues unabated. Indeed, the month of July 2024 once again showed superb growth, across all sectors. Dubai Immo, your trusted real estate agency in Dubai, presents the Dubai real estate market figures for July 2024, and gives you its analysis. Thanks to DXB Interactand the Dubai Land Department for providing these figures.
Strong increase in sales
Dubai's real estate market recorded 16,247 transactions in July 2024, 45.5% more than in July 2023. The total amount of sales also rose sharply, recording growth of +32.9%. If we look at the figures in detail, we can see that off-plan sales rose by +79.8%, compared with 17.7% for sales on the secondary market (resale). Overall, sales of apartments rose by +61.9%, against +9.9% for villas. The average price per m2 rose by +9.8% over the period. Off-plan sales accounted for 66% of July 2024 sales, versus 34% for secondary market sales.
Rental prices still on the rise
The rise in rental prices is once again very much in evidence in July 2024, with +15% compared with July 2023. While this increase is still very significant, it is nevertheless lower than in the first part of 2024. We had indeed seen rises of +25% on some less.
The 5 neighborhoods with the most sales in Dubai
In July 2024, 5 neighborhoods stood out from the rest in terms of transaction numbers. As is often the case, Jumeirah Village Circle leads the way, with 1,297 sales recorded. Meydan is second with 1170 transactions, Business Bay third (1161 sales), followed by Dubai Creek Harbour (725) and Marsa Dubai (637).
The most expensive properties sold in Dubai in July 2024
A villa on the Palm Jumeirah has been sold for 103 million dirhams, or over 25 million euros. This is the largest sale recorded in Dubai in July 2025. Next came an apartment in the luxury Orla residence, also on Palm Jumeirah, sold for 77 million dirhams, or just under 20 million euros.
Guillaume Giroux, Dubai Immo founder and real estate expert, Dubai, UAE
As founder of the Dubai Immo Group and a real estate investor, I bring you daily updates on the Dubai market. My aim is to provide you with all the keys you need to invest wisely and securely, by sharing my in-depth analysis and strategic advice.
