Residential Market Monthly - November

• A new record for monthly property transactions was set in October with 19,390 residential units sold across Dubai. The total number of units transacted across the city YTD now stands at 140,000 units, 36% higher y/y.
• More than 14,000 off-plan residential units (73% of the total demand) were sold, the highest number of off-plan transactions recorded across the city.
• Units sold across Business Bay jumped by 56% m/m. Similar to JVC, the sub-market has seen healthy demand levels so far this year.
• To meet the growing demand for off-plan units, developers have ramped up project launches.
• With the latest set of price increases, capital values for apartments are now on average 19.8% higher y/y in October while average villa prices have increased by 20.24% y/y across the city.

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