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Apartments are the most popular off-plan real estate in Dubai in early 2024

In the first quarter of 2024, studios and apartments with 1-2 bedrooms became the most popular types of housing in the off-plan real estate sector. The share of sales of such real estate is 90%.
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May 8, 2024
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The share of off-plan real estate sales accounted for 58% of the total number of transactions, of which 90% of these were apartments.

In the first three months of 2024, more than 10 thousand transactions were concluded for the sale of apartments in such prestigious areas as Jumeirah Village Circle and Business Bay. The most popular properties were studios and apartments with 1-2 bedrooms. In the segment of villas and townhouses, just 2.9 thousand transactions were recorded.

According to statistics, in 2023, new projects appeared on the market every 36 hours, and at the beginning of 2024 - every 17 hours. As a result, there is a constant increase in the number of off-plan projects and the number of transactions occurring. Despite this, the demand for housing exceeds the possible offerings from developers. In many off-plan projects, real estate is sold out within 1-2 days from the time they are first listed for sale. For example, in Wasl Park Views, all residences were completely sold out within 36 hours.
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In the first quarter of 2024, apartments became the most sought-after type of housing in the off-plan real estate market in Dubai
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