Dubai real estate sales hit USD 17.5bn in November, Property Finder reveals

Dubai, United Arab Emirates: Dubai’s real estate market maintained strong momentum in November, with capital inflows and transaction activity significantly higher than the same period last year. Following a brief cooling in October, combined primary and secondary sales reached USD 17.5 billion (AED 64.4 billion), marking a 49 percent year-on-year increase in total transaction value.

The growth was led by a sharp acceleration in the primary market, where sales value surged 105 percent year-on-year, supported by continued investor and end-user confidence. This was complemented by a more modest but resilient 9 percent year-on-year increase in secondary market values.

Transaction volumes reflect higher-value activity

Transaction volumes broadly mirrored this performance. Overall sales transactions increased 31 percent year-on-year, driven by a 67 percent rise in primary transactions, while secondary transactions recorded a slight 4 percent decline. The divergence between value and volume growth, particularly within the primary segment, points to rising average ticket sizes and sustained demand across the mid-to-upper tiers of the market.

Primary market drives November performance

The primary market was the standout performer in November, with sales value rising 105 percent year-on-year, supported by gains across both off-plan and ready developments. Off-plan primary sales value increased 72 percent year-on-year, reflecting confidence in upcoming projects.

Ready primary sales continued to outperform, with November data showing a 220 percent year-on-year surge in value, compared to a 22 percent increase recorded in November 2024. Off-plan primary transaction volumes rose 68 percent year-on-year, while ready primary volumes increased 63 percent year-on-year. This combination of strong volume and value growth indicates a growing preference for higher-value completed or near-completion units within quality developments.

Locations including Business Bay, Palm Deira and Jabal Ali First, alongside other emerging corridors, continued to attract strong interest from primary market buyers.

Secondary market remains resilient

Despite softer volumes, Dubai’s secondary market remained stable in November, with total transaction value rising 9 percent year-on-year. Within this segment, off-plan secondary sales value increased 8 percent, while ready secondary sales value rose 10 percent. Ready properties accounted for more than 80 percent of total secondary transaction value, highlighting buyer preference for immediate occupancy or income-generating assets.

Secondary transaction volumes declined marginally, with overall volumes down 4 percent year-on-year. Off-plan secondary volumes fell 8 percent, while ready secondary volumes eased 2 percent.

Consumer preferences favour apartments

Apartments continue to dominate buyer and tenant demand, accounting for the majority of rental and purchase searches. Approximately 80 percent of rental searches were for apartments, compared to 20 percent for villas and townhouses. Within the rental apartment segment, demand for studios and one-bedroom units increased year-on-year, reflecting a shift towards more compact and affordable options amid rising rents.

On the sales side, apartments represented 58 percent of purchase searches, while villa demand softened slightly over the year. Around 70 percent of apartment searches focused on one- and two-bedroom units, underscoring strong demand for mid-sized homes in well-connected communities.

Mortgage market highlights mid-income demand

Mortgage Finder’s November data shows that buyers earning between AED 20,000 and AED 40,000 per month accounted for nearly 38 percent of all mortgage requests, up from 30 percent in October. Within this income bracket, 85 percent of buyers were seeking homes for personal use, while 15 percent were pursuing investment opportunities.

Middle-income buyers showed a strong preference for apartments, which remain a more affordable and accessible option for professionals and small families seeking long-term residence in Dubai. While this group continues to dominate apartment demand, higher-income buyers are sustaining activity within the villa segment.

Buyers earning between AED 40,000 and AED 60,000 demonstrated the strongest preference for villas, with 13.27 percent favouring houses compared to 8.16 percent opting for apartments. Among higher earners earning AED 80,000 and above, villas also remained popular, reflecting continued confidence in the premium housing segment.

Mortgage activity remains robust

November’s mortgage activity remained strong, with more than 4,400 transactions valued at USD 2.19 billion (AED 8.03 billion). The data highlights sustained confidence despite rising prices and tightening global financial conditions, with end-users continuing to form the backbone of demand while investors increasingly leverage financing to optimise returns.

Apartment sales reached USD 8.64 billion (AED 31.73 billion) in November, supported by mortgages totalling USD 1.32 billion (AED 4.85 billion). Villa sales were valued at USD 1.26 billion (AED 4.61 billion), with associated mortgages amounting to USD 0.42 billion (AED 1.56 billion). Apartments remain particularly attractive to first-time buyers, long-term residents and yield-focused investors, while villa mortgage activity continues to be driven by high-net-worth buyers and families upgrading to larger homes.

Commercial real estate also recorded growing interest, with offices, retail units and warehouses increasingly viewed as attractive investment opportunities amid rising residency levels and expanding economic activity.

Cherif Sleiman, Chief Revenue Officer at Property Finder, said: “October’s slight cooling down of the market was never going to be a reliable indicator of the overall health of the Dubai property market. As the healthy November figures show, buyers are back and they are keen to find great deals after the expected summer slowdown. The middle income earners are truly the backbone of the market, supporting a booming apartment segment. As well as looking to put down roots as long-term UAE residents with their purchases, there is a growing interest in investment properties among middle income earners. Investment property is increasingly seen as a solid, long-term wealth building tool across middle and high-income demographics, which is a massive vote of confidence in Dubai’s maturing market.”

November’s data reinforces the resilience of the UAE mortgage market and its critical role in supporting broader real estate growth. As prices and rental markets strengthen, both end-users and investors continue to rely on financing to enter or expand their presence in the market, highlighting the increasing maturity and long-term attractiveness of the UAE property sector.

Mortgage activity remains robust

November’s mortgage activity remained strong, with more than 4,400 transactions valued at USD 2.19 billion (AED 8.03 billion). The data highlights sustained confidence despite rising prices and tightening global financial conditions, with end-users continuing to form the backbone of demand while investors increasingly leverage financing to optimise returns.

Apartment sales reached USD 8.64 billion (AED 31.73 billion) in November, supported by mortgages totalling USD 1.32 billion (AED 4.85 billion). Villa sales were valued at USD 1.26 billion (AED 4.61 billion), with associated mortgages amounting to USD 0.42 billion (AED 1.56 billion). Apartments remain particularly attractive to first-time buyers, long-term residents and yield-focused investors, while villa mortgage activity continues to be driven by high-net-worth buyers and families upgrading to larger homes.

Commercial real estate also recorded growing interest, with offices, retail units and warehouses increasingly viewed as attractive investment opportunities amid rising residency levels and expanding economic activity.

Cherif Sleiman, Chief Revenue Officer at Property Finder, said: “October’s slight cooling down of the market was never going to be a reliable indicator of the overall health of the Dubai property market. As the healthy November figures show, buyers are back and they are keen to find great deals after the expected summer slowdown. The middle income earners are truly the backbone of the market, supporting a booming apartment segment. As well as looking to put down roots as long-term UAE residents with their purchases, there is a growing interest in investment properties among middle income earners. Investment property is increasingly seen as a solid, long-term wealth building tool across middle and high-income demographics, which is a massive vote of confidence in Dubai’s maturing market.”

November’s data reinforces the resilience of the UAE mortgage market and its critical role in supporting broader real estate growth. As prices and rental markets strengthen, both end-users and investors continue to rely on financing to enter or expand their presence in the market, highlighting the increasing maturity and long-term attractiveness of the UAE property sector.