In August, Dubai’s real estate market registered property sales worth Dh51.1 billion, marking a 7.9% increase compared to the same month last year, while total transactions rose 15.4% year-on-year to 18,678.

According to DXBinteract, Dubai’s real estate market saw Dh1.2 billion in commercial sales during August, with transactions up 20.4% year-on-year to 442. In parallel, 392 plot deals valued at Dh8.9 billion reflected a 7.4% growth in volume over the same period last year.

Villa sales in August totaled Dh10.9 billion, with transaction volumes declining 38.1% year-on-year to 1,944. However, the average price per square foot rose 15.2% to Dh1,720. Overall property deals ranked as the third highest this year, after July’s 20,322 and May’s 18,693.

Dubai’s August property sales have steadily climbed in recent years, rising from Dh4.7 billion (2,500 transactions) in 2020 to Dh15 billion (5,800) in 2021, Dh23.4 billion (9,400) in 2022, Dh33.57 billion (11,900) in 2023, and Dh47.4 billion (16,200) in 2024.

Over the same period, the average property price per square foot has risen steadily, climbing from Dh826 in 2020 to Dh1,011 in 2021, Dh1,143 in 2022, Dh1,410 in 2023, and Dh1,494 in 2024, reaching last month’s level.

Dubai’s luxury market set new benchmarks in August, led by a Palm Jumeirah villa sold for Dh161 million and a Dh100 million apartment at Selicon Star 2, Nadd Hessa.