Particle.news
Download on the App Store
3 ARTICLES
·
8h ago

Dubai Housing Hits $38 Billion as Off-Plan Apartments Dominate Q3

A flood of new launches steered buyers to apartments, leaving limited villa stock priced at a premium.

The UAE’s mortgage market accounted for $62 billion of the $240 billion in total real estate transactions last year, experts said. Image: Shutterstock
Apartments tend to provide a higher average yield than villas and especially those in the more affordable developments.
Apartments remain the preferred asset class for investors due to their relative affordability, high liquidity, and sustained end-user demand. Image: Shutterstock

Overview

  • Dubai recorded 56,723 residential transactions worth AED139.8bn ($38.1bn) in Q3, with off-plan deals comprising about 75% of activity, according to CBRE.
  • Betterhomes said off-plan represented 59% of sales value and 70% of volume, as off-plan apartment sales rose 35% quarter-on-quarter to 37,980 units and total apartment transactions reached 48,646.
  • Savills reported more than 10,000 Q3 launches with 97% apartments, about 8,500 completions, and a pipeline exceeding 250,000 units planned through 2028.
  • Villa and townhouse sales volumes fell sharply in Q3, yet the average villa sale price remained above Dh7 million, roughly 24% higher than the 2024 average.
  • CBRE noted office occupancy at 94% with rents up 19% year on year, while hospitality, retail and industrial sectors posted high occupancies and rising revenues.