Dubai real estate exceptional performance is everlasting and limitless, W Capital
– 3 new sales record numbers in Dubai real estate market.
-Dubai real estate records the highest H12024 sales of AED233bn
– Best quarterly sales ever in Q2, amounting to AED124.5bn
– The highest sales value for June with the second highest monthly sales ever, at about AED45bn.
Walid Al Zarouni
*The prospects of the Dubai real estate market is promising amid strong signs of continued positive and sustainable growth.
* Dubai offers higher rental returns than many other global markets.
* The real estate market performance this year is set to surpass last year in record numbers.
Dubai, United Arab Emirates:Monday, July 8, 2024
A new study conducted by “W Capital”, the Dubai leading real estate brokerage, shows that the real estate sector achieved exceptional limitless performance, with 3 new record numbers in sales.
The study stated that Dubai real estate recorded the highest H1 sales at AED233bn, the best quarterly sales at AED124.5bn for Q2 2024, as well as the highest sales ever for the month of June, and the second largest monthly sale ever, at about AED45bn.
Based on data from the Dubai Land Department, H1 sales recorded a growth of 30% on an annual basis, exceeding AED233.16bn, which is the highest ever in semi-annual sales, compared to about AED179.5bn for the same period in 2023.
The Dubai real estate sector recorded 80,230 sales during from January to June 2024, compared to 60,420 sales transactions in the same period last year, with a growth of 33%.
While Dubai real estate sales during the first six months of the current year are the highest historically for the aforementioned period, they also represent about 58% of the total value of sales recorded in 2023, amounting to AED401bn.
The H1 total transactions amounted to about AED344.4bn, which is the largest ever in half a year, resulting from 101,920 transactions.
The sector also recorded the highest quarterly sales ever for Q2 2024, at a value of AED124.5bn, an increase of 38% compared to sales for the same period last year, which amounted to AED90.3bn, surpassing the previous record recorded in the last quarter of 2023, at a value of AED112.7bn with one billion dirhams.
The real estate sector also recorded the second highest monthly performance in terms of sales in June, recording AED 44.90bn, which is the largest for the same month, with a growth of 47.2% compared to about AED30.5bn for June 2023.
June sales record numbers was not affected by the Eid al-Adha holiday, after the historical monthly barrier recorded last May at a value of AED45.8bbn, exceeding last November’s record number of AED42bn.
“The growth trajectory of the Dubai real estate market during the first six months of 2024 is amazing amid strong signs of continued positive and sustainable growth,” said Walid Al Zarooni, W Capital CEO.
He added that the future of the Dubai real estate market is very promising while demand remains unprecedented, driven by the emirate’s attractiveness to new residents, investors and individuals. They are nowadays searching for a property in the city,which is home to the most luxurious and most sought-after properties in the world while offering higher rental returns than many other global real estate markets.
Walid Al Zarooni pointed out that the market is on track to break the records achieved last year, as the value of real estate sales is expected to range between AED450-500bn for the first time in 2024.
=End=
About “W Capital”:
“W Capital Real Estate Brokerage” was established in 2007 in the United Arab Emirates, specializing in real estate development, buying, selling, renting as well as consulting services for real estate companies.
Since its inception, the company has sold over AED 200 million of properties to major developers.
About Walid Al Zarooni:
Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage. A certified real estate expert from the Dubai Real Estate Regulatory Agency “RERA”, he is the author of “Secrets of the Smart Real Estate Investor”.
Al Zarooni is one of the first experts to harness social media to raise the public awareness about real estate. He provides almost free advice on a daily basis, as well as latest news and updated information through videos and posts on social media platforms such as ” Instagram “,“ Snapchat ” and “Twitter”, on which he is very active.
