Total Sales Transactions:
- Q1 2024: Recorded 36,200 transactions marking the second highest for the quarter.
- Q1 2023: Witnessed 31,000 transactions.
- Year-over-Year Increase: Approximately 17% increase in transactions from Q1 2023 to Q1 2024.
Existing/Ready Sales Transactions in Q1 2024
Transactions Volume:
- Increased to 19,600 from 15,000 in Q1 2023.
- Year-over-year growth of 30.7%.
- Now represents 54% of total transactions up from 48% last year.
Transactions Value:
- Rose to AED 78.2 billion, up from AED 53.6 billion in Q1 2023.
- Year-over-year growth of 46%.
- Accounts for 68% of the total transaction value, an increase from 60% last year.
This indicates a significant growth in the existing/ready property market both in terms of the number of transactions and their total value.