Dubai real estate market saw monthly transactions surpass over 20,000 mark for the first time in history in October, indicating that the market's momentum shows no sign of slowing down.
According to new data released by Property Monitor 20,460 sales transactions were recorded last month, an increase of 13 per cent over the previous month, as strong demand for residential and commercial properties continues to drive prices and rents upward.
“After a record-breaking September, the Dubai real estate sector reached another new high in October. Once again, off-plan and under-construction properties accounted for the majority of sales, highlighting continued investor confidence in the sector," said Zhann Jochinke, chief operating officer, Property Monitor.