Dubai's real estate market is on track for a 30% year-on-year growth by the end of 2024 with record-breaking sales, prices and transactions. In October, 20,460 sales were recorded up 13% from September, driven by strong demand across residential and commercial properties.

Several key milestones were reported including:

• The highest-priced villa sold for AED 175 million in Jumeirah Bay while a Palm Jumeirah villa topped off-plan sales at AED 170.5 million.

• Mortgage transactions rose 3.2% month-on-month, reaching record levels.

• 48 new projects launched adding 15,000 units, bringing the total to over 100,000 new units in 2024.

• Property prices increased by 1.73% in October with prices per square foot hitting AED 1,473, nearly 20% higher than the previous market peak in 2014.

Median property prices in October were AED 1.271 million for apartments, AED 2.885 million for townhouses and AED 7.298 million for villas. The market is expected to continue its growth into 2025.