Dubai’s October 2024 Record: 20 460 Deals and Prices 20% Above the 2014 Peak
A historic monthly record, AED 1 473 per sq ft, over 4 300 mortgages and 100 000 units launched over the year. Here’s what made up that result — and what it still means in hindsight.
October 2024 is a convenient benchmark for measuring Dubai's previous market cycle.
What the month showed
- Over 20 460 transactions — a record at the time.
- AED 1 473 per sq ft — 20% above the 2014 peak.
- Over 4 300 mortgages issued during the month.
- 15 000 new units launched across 48 projects, taking the year's total launches to about 100 000 units.
- October sales beat September's by 13%, and prices for the month added 1.73%.
Median prices by property type
- Apartments: AED 1.271 million (about $346 000).
- Townhouses: AED 2.885 million (about $786 000).
- Villas: AED 7.298 million (about $2 million).
The two numbers that matter more than the rest
The first is the 20% premium over the 2014 peak. That earlier peak was followed by a multi-year correction, and beating it by 20% shows the market didn't just recover — it moved to a new price level. That changes the baseline for any yield calculation: a 2024 buyer entered at a higher price than a buyer at the top of the previous cycle.
The second is the 100 000 units launched over the year. Off-plan housing reaches the market three to four years after launch, so this entire volume lands for handover in 2027–2028. That's the supply that will define that period — and why the conversation about risk has shifted from price to timing.
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How to use this
Historical records are useful not as a reason for optimism but as a baseline. If your unit was bought in this period, yield should be calculated from that entry price — not from today's developer price lists.
Based on Dubai real estate market reports for October 2024.
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