Dubai's real estate market hit a historic milestone in October 2024 with over 20,000 property transactions, marking its highest monthly sales ever. A total of 20,460 deals were recorded, a 13% increase from September, driven by strong demand for both residential and commercial properties.

According to Property Monitor's report, 73% of these transactions were for off-plan or under-construction properties reflecting ongoing investor confidence. Residential properties dominated making up nearly 95% of sales with over 19,400 deals.

Population growth with more than 100,000 new residents annually continues to fuel demand, keeping supply tight. The highest-priced property sold was a villa at Jumeirah Bay for Dh175 million while a Palm Jumeirah villa sold for Dh170.5 million. Emaar, Damac and Sobha led the market in off-plan sales.

With reduced interest rates, a growing number of new projects and a shift toward buying over renting, Dubai's property market shows no signs of slowing down.