Dubai real estate: Off-plan property sales surge 47% year-on-year in April
Dubai's off-plan property market recorded significant growth in April, supported by sustained interest from international investors and local buyers seeking new developments, according to Allsopp & Allsopp.
According to the Dubai Land Department (DLD), the total real estate transaction value in April reached AED46 billion.
This represents a 77 per cent increase compared to April last year and a 23 per cent rise from the previous month.
Dubai off-plan surge
Off-plan transactions drove much of this growth, with a 47 per cent increase in transaction value and a 29 per cent rise in volume year-on-year.
These figures underline continued demand for properties under development. Off-plan sales accounted for 59 per cent of all transactions in April.
'Whether you are an investor or a homeowner looking to diversify your portfolio, the off-plan market is where the real opportunity lies,' Lewis Allsopp, CEO of Allsopp & Allsopp said.
Allsopp & Allsopp reported a 99 per cent increase in year-on-year sales transaction volume, outperforming the wider market. Sales transaction value rose by 143 per cent compared to April 2024.
The secondary market also showed strong activity. The average property price rose by 23 per cent month-on-month, with total transaction value increasing by 41 per cent.
Year-on-year, secondary sales grew by 111 per cent in value and 68 per cent in volume. The segment accounted for 57 per cent of the total transaction value in April, with off-plan contributing 43 per cent.
Villas and townhouses led the market in terms of price growth. Average values rose by 34 per cent month-on-month, while transaction volume more than doubled with a 110 per cent increase year-on-year. Apartments also recorded a 32 per cent year-on-year rise in average prices.
'We are witnessing a clear trend towards homeownership in Dubai with more individuals recognising the city as a stable and attractive place to settle and invest long-term, not just in villas but also in apartments,' said Allsopp.
'Where previously buyers may have rented before purchasing, many are now skipping that step and directly purchasing properties, drawn by the high-quality offerings of new developments,' he added.
Rental transactions, meanwhile, declined. The DLD reported a 24 per cent decrease in rental volume in April. Allsopp & Allsopp noted a 9 per cent fall. This suggests a shift in preference towards property ownership.
As demand continues, developers are expanding offerings to remain competitive. 'Developers are raising the bar and becoming increasingly competitive, offering world-class amenities and community-focused living spaces that are attracting strong buyer interest and fostering long-term loyalty,' Allsopp said.
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