Whitewill, the international luxury real estate agency for developers and partners that operates across the UK, USA, and UAE markets, has released its market overview report
analysing off-plan sales activity across the apartment, villa, and townhouse market in Dubai during the month of June 2024. Tracking various residential communities, the report shows a strong off-plan market performance for the leading real estate broker, Whitewill, which has been instrumental in Dubai's property market.
Data suggests the off-plan market is consistently dominating, with significant sales volumes and values indicating strong buyer interest in new developments. Off-plan sales accounted for the majority (58.6%) of all real estate deals with 7,899 transactions worth AED 16,667,161,076. Compared to the previous month, real estate prices were dynamic in June 2024. Notably, apartment areas such as Al Khail Heights (6.73%) and Al Barari (5.86%) experienced substantial growth while Business Bay saw a decrease (1.71%). In the villas and townhouses segment, Al Barari led with a price increase (5.09%), while Jumeirah Islands experienced a decline of (2.56%).
Olga Pankina, Chief Operations Officer at Whitewill Dubai, said: “Our real estate data highlights a dynamic and evolving market in Dubai. The strong demand for luxury properties in high-end areas indicates Dubai's ongoing appeal to affluent buyers. At the same time, more affordable districts continue to attract a wide range of buyers, ensuring a balanced market. This dual trend reflects Dubai's ability to cater to diverse buyer preferences, from high-net-worth individuals to budget-conscious investors. Moving forward, we can expect both luxury and budget-friendly sectors to thrive, driven by economic resilience and varied buyer interests.”