Dubai’s residential property market continued to rise in October, though monthly price growth eased to 0.13%. Average prices now stand at AED 1,683 per square foot, more than double their 2020 lows and above the previous 2014 peak. Despite the slower monthly gains, the market’s long-term upward trend remains intact.
A total of 19,760 transactions were recorded, slightly lower than September but still near historic highs. Residential sales accounted for 93.5% of activity, while commercial sales remained modest. Year-to-date volumes have already surpassed last year’s total, with the market on track to set a new annual record for the third consecutive year.
Off-plan sales dipped slightly to 12,947 transactions, reducing their share of total sales, while completed property sales and resales remained strong. Resale activity continued to show healthy demand, reflecting sustained interest from investors and end-users alike.
Mortgage activity rebounded in October, with 4,885 loans registered, supported by recent rate cuts. New purchase mortgages accounted for the majority of activity, while bulk and portfolio loans also saw a notable increase, indicating strong participation from institutional buyers.
New project launches continued at a robust pace, with apartments dominating supply. Villas and townhouses are expected to increase in the coming months, with major developers introducing new low-density communities across the city.
Overall, Dubai’s residential market shows signs of measured stabilization. Prices continue to rise steadily, transactions remain high, and new supply is being absorbed effectively, pointing to a balanced and sustainable growth trajectory.
