May 8, 2024
Transaction Trends
Summaries from DLD data as displayed on DXB Interact; there are several sources to access DLD transaction data:
Every transaction is on blockchain & updated daily by Dubai Land Department with the unit no & selling price. The sale & rental history of each property from at least 2014 can be easily accessed. There will be a lag period on transfers and a handful of recorded units may not make apparent sense (there are a number of reasons - could be gifted; smaller share sold etc)
Total transactions this year (till April 2024) - is about 48,000 units; which for perspective is higher than the entire annual transactions each year from 2017 - 2020.
YTD about AED 160 bn of transactions has been concluded at DLD. 2023 is the record with annual transactions worth AED 410 bn.
April 2024 saw 11,608 transactions; lower than March (13,434) and similar to Feb (11,814) & Jan (11,258). Transactions in April are up 45% y/y.
Villa & Townhouses (V&Ts) = 939 transactions vs 9,686 apartments.
V&T Transactions are lower by 3.5% y/y but their values are up 26% y/y. Apartment values on avg. are up 14% y/y. Commercial values are up 40% y/y.
Rental prices for residential properties are up 22 - 23% y/y; while commercial values are bucking International trends - and up an astonishing 82% y/y.
63% of transactions are below AED 2.0 M. 8% of transactions are above AED 5 M.
2,180 of the 11,608 transactions were mortgage (down 10% y/y). Value of mortgaged properties was 14.6 bn
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