DUBAI (Agencies): According to a recent report from property portal Property Finder, the Dubai real estate market has started 2024 with a record-breaking sales figure of $9.6 billion (AED35.4 billion), representing a 27 percent increase compared to the previous year.

The market experienced a year-on-year growth of 17 percent in recorded sales transactions, surpassing 11,000 compared to 8,712 in January 2023. The report also indicates that the market is expected to continue its growth trajectory in the coming months.

The report further reveals that among individuals looking to purchase properties, 58 percent expressed their interest in apartments, whereas 42 percent were specifically seeking villas or townhouses. On the other hand, in the rental market, a substantial 80 percent of tenants were found to be in search of apartments, while 20 percent were interested in villas or townhouses.

Approximately 62.2 percent of tenants in search of apartments were discovered to prefer furnished properties, whereas 36.1 percent were specifically looking for unfurnished options. Conversely, tenants who had the means to afford villa or townhouse rentals displayed the opposite trend, with around 57 percent seeking unfurnished units and 42 percent in search of furnished options.

Roughly 36 percent of tenants were in search of one-bedroom units, while 31 percent were specifically looking for two-bedroom apartments, and 22 percent had their sights set on studios. When it came to villas or townhouses, 43 percent of tenants were seeking three-bedroom units, while 34 percent were searching for four-bedroom or larger options.

By Media

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