Off-plan sales in Dubai saw a significant uptick in November, rising 105 percent compared to the previous month with over 4,200 transactions, according to the latest ValuStrat Price Index.
However, contract registrations were still down 27.1 percent from the same period last year.
While demand grew for new off-plan developments, overall monthly sales volumes were split fairly evenly between off-plan contracts and ready properties. Off-plan transactions accounted for 49.5 percent of the total in November while ready home transactions expanded 11.7 percent from the month before and 8.2 percent year-over-year.
Leading developers by sales included EMAAR, DAMAC, Nakheel, and Falcon City of Wonders, whose projects continue to draw significant interest. Popular off-plan locations were Jumeirah Village Circle (JVC), Business Bay, Palm Jebel Ali, and Downtown Dubai. For ready homes, top-selling areas included JVC, Falcon City of Wonders, Business Bay, and Dubai Marina.
Dubai’s real estate landscape: Villas lead, apartments trail
The report also revealed widening divergences across the emirate’s property markets. Villa prices increased 2.5 percent over the month and 23.3 percent annually, outperforming the apartment sector dramatically. Apartment values rose a more modest 1.9 percent month-over-month and 14.1 percent year-on-year.
Charts in the ValuStrat study illustrate the evolution of capital value growth indexes for each segment since 2014. They show villas strongly surpassing overall residential levels, while apartments have failed to keep pace and remain below pre-pandemic peaks in many areas.
Location-specific data highlighted the top villas performers of Jumeirah Islands, Palm Jumeirah, Dubai Hills Estate, while Discovery Gardens, The Greens and Motor City led among apartments.
The latest figures underscore the sustained recovery across Dubai’s real estate markets, with off-plan buying picking up further steam despite a yearly decline, and villas continuing to post new highs. However, lagging apartment values point to a bifurcated market.