Monthly benchmark release

Dubai Property Market Benchmark — May 2024

Dubai recorded 17,685 property sales worth ⃃ 46.6B in May 2024. The median sale price was ⃃ 1,530,888 and the median price per square foot ⃃ 1,570.

Period: 1–31 May 2024Compared with: no prior-year month on recordSample: 17,685 sales · 85,027 rentals
Property sales
17,685
registered in May 2024
Sales value
⃃ 46.6B
⃃ 46,581,593,081
Median sale price
⃃ 1,530,888
17,685 sales
Median price per sq ft
⃃ 1,570
17,685 sales

What happened in the Dubai property market in May 2024?

Quotable statistics — each line has its own link (use the # anchor).

  1. 17,685 property sales were registered in Dubai in May 2024. #
  2. Sales were worth ⃃ 46,581,593,081 in total. #
  3. The median sale price was ⃃ 1,530,888. #
  4. The median price per square foot was ⃃ 1,570, +1.1% on the previous month. #
  5. Developer (primary) sales were 66% of the month's sales (11,679); resales 6,006. #
  6. Off-plan units were 59.5% of sales (10,518); ready units 7,167. #
  7. 85,027 rental contracts were registered, at a median annual rent of ⃃ 50,000. #
DXBinteract, “Dubai Property Market Benchmark — May 2024”, https://dxbinteract.com/dubai-property-market-benchmark/2024-05. DXBinteract analysis based on Dubai Land Department transaction data.

How were May 2024 sales split?

Primary/resale is who sold; off-plan/ready is the unit’s state. Each pair adds up to the total.

SegmentSalesShareValueMedian pricePer sq ft
All sales17,685100%⃃ 46.6B⃃ 1,530,888⃃ 1,570
Primary (developer)11,67966%⃃ 28.8B⃃ 1,527,888⃃ 1,693
Resale6,00634%⃃ 17.8B⃃ 1,550,000⃃ 1,369
Off-plan10,51859.5%⃃ 26.4B⃃ 1,686,199⃃ 1,698
Ready7,16740.5%⃃ 20.1B⃃ 1,211,822⃃ 1,406

How does this month compare with the last 12?

Registered sales and median price per square foot by month, Dubai.

Dubai monthly property sales and median price per sq ft to May 2024
SalesMedian price per sq ft (⃃)
Jan 2411,6851,564
Feb 2411,9991,513
Mar 2413,6551,466
Apr 2411,6001,553
May 2417,6851,570
Dubai registered sales and median price per sq ft, January 2024 – May 2024. Source: DXBinteract. The same figures are in the table below.
MonthSalesMoMValueMedian pricePer sq ft
May 202417,685+52.5%⃃ 46.6B⃃ 1,530,888⃃ 1,570
April 202411,600−15.0%⃃ 32B⃃ 1,475,000⃃ 1,553
March 202413,655+13.8%⃃ 37.4B⃃ 1,444,828⃃ 1,466
February 202411,999+2.7%⃃ 36.9B⃃ 1,500,000⃃ 1,513
January 202411,685—⃃ 36.2B⃃ 1,522,000⃃ 1,564

How these figures are calculated

Scope
All sale transactions registered with the Dubai Land Department in the calendar month, all property types; rental contracts registered in the month (new and renewed).
Medians
Median sale price, median price per square foot and median annual rent of those transactions.
Comparisons
Year on year = the same month of the previous year; month on month = the previous calendar month. Only complete months are published.
Revisions
Late registrations can revise a month slightly in the following weeks; the page always shows the current figures.

Full definitions: DXBinteract methodology · market indicators explained

Source and how to cite

DXBinteract analysis based on Dubai Land Department transaction data.

Data to
(latest registered transaction)
Last updated
— figures refresh hourly from the live dataset
Permanent URL
https://dxbinteract.com/dubai-property-market-benchmark/2024-05
Dubai Property Market Benchmark — May 2024. DXBinteract, data to 16 Oct 2026. https://dxbinteract.com/dubai-property-market-benchmark/2024-05

Republishing? Keep the source line “DXBinteract analysis based on Dubai Land Department transaction data.” and link to this page. Attribution guidelines

Last updated · https://dxbinteract.com/dubai-property-market-benchmark/2024-05