The Dubai real estate market is experiencing a significant surge in demand, with sales transactions increasing by 45% to reach $8.7bn in April 2024, according to a report by Property Finder.
Growth in Demand for Apartments
The study reveals that 58% of property seekers are looking for apartments, while 42% are searching for villas or townhouses. This shift in demand is a reversal from previous months, where villas were in higher demand.
Consistent Demand for Bigger Villas
The demand for villas remains strong, with 37% of property seekers looking for three-bedroom units, and 45% searching for four-bedroom or larger options.
Furnished Properties in High Demand
Approximately 64% of tenants are looking for furnished apartments, while 55% of villa seekers prefer unfurnished units.
Popular Areas Driving Growth
New areas are gaining popularity, including Dubai South, Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, and Al Furjan. Existing areas like Dubai Marina, Downtown Dubai, Jumeirah Village Circle, and Business Bay remain in high demand.
Off-Plan Investment Boom
Off-plan transactions have seen a significant year-on-year increase of 86.51% in volume, with 7,203 transactions recorded. This growth is driven by the promise of high returns on investment.
Cherif Sleiman, Chief Revenue Officer at Property Finder, notes that the regulatory changes, including the need for a primary unit permit, will further improve the quality of supply. The shift in consumer preferences towards apartments is an interesting development in the market.
The strength of the real estate market is evident, and with the planned shift of airport operations, we can expect renewed demand across developing areas.
JobXDubai 
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