Dubai real estate market rebounds strongly in November with 49% annual growth in sales value
Dubai’s real estate market regained strong momentum in November, recording significantly higher activity and capital inflows compared to the same period last year. Following a mild slowdown in October, total primary and secondary property sales reached approximately AED 64.4 billion, marking a 49% year-on-year increase in transaction value.
The resurgence was driven primarily by the primary market, which recorded a 105% annual surge in sales value, while the secondary market posted steady growth of 9% year-on-year. Transaction volumes also reflected the market’s strength, increasing 31% compared to November 2024. Primary transaction volumes rose sharply by 67%, while secondary volumes saw a marginal 4% decline.
The divergence between transaction value and volume growth, particularly in the primary segment, points to rising average ticket sizes and sustained demand in the mid-to-upper tiers of the market.
Primary market leads growth
The primary market emerged as November’s standout performer, supported by robust demand for both off-plan and ready properties. Off-plan primary sales value increased by 72% year-on-year, underlining strong investor and end-user confidence in upcoming developments.
Ready primary properties recorded a notable 220% surge in value, a substantial increase compared to November 2024. Off-plan primary transaction volumes rose 68%, while ready primary volumes increased by 63%, indicating growing buyer preference for higher-value completed or near-completion units in established developments. Areas such as Business Bay, Palm Deira and Jabal Ali First continued to attract strong interest from primary buyers.
Secondary market remains resilient
Despite slightly softer transaction volumes, Dubai’s secondary market maintained resilience in November. Total secondary transaction value increased by 9% year-on-year, with off-plan secondary value rising 8% and ready property value growing 10%.
Ready properties accounted for more than 80% of total secondary transaction value, reflecting buyer demand for immediate occupancy and stable rental income. Secondary transaction volumes declined modestly by 4%, with off-plan secondary volumes down 8% and ready volumes easing by 2%.
Apartment demand dominates buyer preferences
Apartments continue to dominate demand across both rental and purchase segments. Approximately 80% of rental searches focused on apartments, compared to 20% for villas and townhouses. Within the rental apartment segment, interest in studios and one-bedroom units increased year-on-year, reflecting a shift toward more affordable living options amid rising rents.
In the sales market, apartments accounted for 58% of all purchase searches, with nearly 70% of interest concentrated on one- and two-bedroom units. This trend highlights sustained demand for budget-conscious homes in well-connected communities.
Mortgage market driven by middle-income buyers
Mortgage data for November shows that buyers earning between AED 20,000 and AED 40,000 per month accounted for nearly 38% of all mortgage requests, up from 30% in October. Within this segment, 85% of buyers were seeking homes for personal use, while 15% were exploring investment opportunities.
Middle-income buyers demonstrated a strong preference for apartments, while higher-income earners continued to support demand in the villa segment. Buyers earning between AED 40,000 and AED 60,000 showed the highest interest in villas, followed by buyers earning AED 80,000 and above.
Mortgage activity remains robust
Mortgage activity remained strong in November, with more than 4,400 mortgage transactions valued at AED 8.03 billion. Apartment sales reached AED 31.73 billion, supported by mortgages worth AED 4.85 billion, while villa sales totalled AED 4.61 billion with AED 1.56 billion in associated mortgages.
Apartments continued to attract first-time buyers, long-term residents and yield-focused investors, while villa transactions, though lower in volume, remained healthy due to demand from high-net-worth individuals and families upgrading to larger homes.
Commercial property also saw rising investor interest, particularly in offices, retail units and warehouses, driven by economic growth, increased residency and expanding business activity.
Cherif Sleiman, Chief Revenue Officer at Property Finder, said that November’s performance reaffirmed the strength and resilience of Dubai’s property market. He noted that middle-income buyers continue to form the backbone of demand, supporting a thriving apartment segment while increasingly viewing property investment as a long-term wealth-building strategy.
Overall, November’s data confirms that Dubai’s real estate and mortgage markets remain resilient and competitive, with financing playing a critical role in supporting sustained growth as prices and rental values continue to rise.
