Dubai's Property Market Report: Strong Growth and Sustained Positive Trend in February 2024

The Tranio team continues to analyse statistics on off-plan property deals based on data from the Dubai Land Department. The number of transactions in February is steadily increasing.

In February 2024, buyers completed 7,085 property transactions during the construction phase which is 39% more than the same period in 2023 (5,084 transactions). Compared to the previous month, the number of transactions increased by 5%.

The total value of off-plan properties sold in February was estimated at 4.6 billion US dollars, up 27% year-on-year and 9% lower than in January 2024.

The price per square metre in February averaged 5,495 dollars. In February last year, a square metre was sold for 4,891 dollars, which is 12.3% less expensive.

Author: Maksim Skorykh