haus & haus Reveals H1 Dubai Real Estate Highlights
As the first half of 2024 comes to an end, the Dubai property sector remains upbeat with plenty of buyers entering the market, according to the emirate’s leading real estate company haus & haus.
As haus & haus prepares to release its eagerly anticipated Market Reports, here are some of the key takeaways from H1.
Sales volumes continue to rise
- The H1 figures show a year-on-year volume growth of more than 30% according to Property Monitor.
- Internally, haus & haus has seen a 71% increase in registered buyers in the same period YoY.
May was the best performing month
- According to Property Monitor’s May report, that month experienced the highest sales transaction volumes ever recorded, with a 47.7% increase month-on-month and a 45.9% increase year-on-year.
- This aligns with haus & haus internal figures, as May was also the company’s best month.
- However, there may have been a spillover from April into May due to the unprecedented storms and flooding in Dubai and its knock-on effect, pushing deals into May.
Demand for villas continues to rise
- H1 Property Monitor figures indicate an increase in volume growth for villas.
- This is expected as the Dubai population grows and matures, with residents potentially staying for longer and looking for properties that suit family expansion and long-term living.
Developers look to support demand with more villa and master community launches
- In H1, 3,323 villas were launched, with the majority (35%) expected to be completed in 2028, and the rest between 2024 and 2027.
- Emaar continues to invest in the expansion of key areas to support the growing population; with announcements for key master communities like The Oasis, The Heights Country Club and Wellness, and Grand Polo Club & Resort, being very popular with investors.
“It’s exciting to see volumes in the Dubai market continuing to grow in line with the projected population expansion. It’s also good to see that the market in the first half of this year has been maturing, with sales values increasing at a steadier rate – projecting around seven percent average price growth for 2024. This is a further sign that we’re experiencing stable, steady growth for the foreseeable future,” commented Simon Baker, Managing Director, haus & haus Real Estate.
