Dubai’s actual property market continued to reveal outstanding resilience and strong progress in November, with the residential sector reaching a 15.4% year-over-year improve and the industrial market recording a complete gross sales worth of AED9.2 billion, in line with the most recent report from Engel & Völkers Center East, a frontrunner in premium residential and industrial actual property providers.
The town’s residential sector recorded 12,695 gross sales transactions, and whereas the determine displays a cooling off from October’s record-breaking figures, it underscores the market’s sustainable and regular progress. The month additionally noticed a modest 0.38% improve in common costs, reinforcing the market’s continued uptrend.
An growing urge for food for affordability was evident, with properties underneath AED 1 million climbing to 32.2% of gross sales, up from 26.7% in October. Studios and one-bedroom residences noticed heightened curiosity, additional solidifying residences because the dominant asset class, comprising over 84% of complete gross sales.
The highest three communities by gross sales transactions had been Jumeirah Village Circle with 1,035 models offered, Jumeirah Village Triangle with 670 models and Enterprise Bay with 423 models.
In the meantime, the industrial actual property market showcased a robust efficiency, with complete gross sales worth reaching AED 9.2 billion—a 3.1% year-on-year improve. Workplace gross sales surged by 24.2%, accompanied by a outstanding 31.1% year-over-year rise in common costs, highlighting the persistent demand and restricted provide of premium workplace areas.
Rental exercise mirrored this progress, with transaction volumes growing 21.9% in comparison with October. Common rents throughout all sectors rose 18.0% year-on-year, led by workplace areas, which noticed a 28.1% improve in common rents. Excessive occupancy charges and intense competitors for Grade A areas proceed to outline Dubai’s thriving industrial sector.
Workplace transactions had been highest in Enterprise Bay, with 119 models offered, adopted by Jumeirah Lakes Tower and Barsha Heights (TECOM). The highest communities by rental transactions had been Deira, DIP and Bur Dubai.
Daniel Hadi, CEO of Engel & Völkers Center East, famous: "Dubai’s actual property market continues to reveal distinctive power and adaptableness, pushed by sustained demand and strong fundamentals. The residential sector’s regular progress, with growing curiosity in inexpensive and compact residing choices, displays a dynamic and maturing market catering to numerous wants. In the meantime, the industrial sector’s spectacular efficiency—marked by surging workplace gross sales and rental progress—underscores Dubai’s place as a world enterprise hub.”
“As Dubai’s financial system expands and continues to draw world companies and residents, town’s actual property sector stays on observe for sustained progress. The November report highlights the market’s adaptability, sturdy investor confidence, and potential for record-breaking achievements as we strategy 2025,” concluded Hadi.