Dubai South property sales jump 36% as investors bet on world’s largest airport project
Dubai South property sales jump 36% as investors bet on world’s largest airport project
Dubai South property sales have surged 36.4 per cent since February as investors back Dubai World Central’s expansion into the world’s largest airport
Property sales in Dubai South have surged by more than a third since the end of February, as investors and homebuyers increasingly position themselves around the future expansion of Dubai World Central, which is set to become the world’s largest airport.
A new market analysis by fäm Properties shows that Dubai South was the emirate’s best-performing residential real estate area for a third consecutive month in May, recording 1,357 sales transactions worth AED1.6bn ($436m).
The performance represents a 15.9 per cent increase in transaction volume compared with April and marks the seventh consecutive month that Dubai South has ranked among Dubai’s top five performing property markets.
According to the report, residential property sales transactions in Dubai South have increased by 36.4 per cent since the onset of the regional conflict at the end of February.
The strongest growth has come from the off-plan market.
Dubai South real estate
Developer off-plan sales rose 24.8 per cent in May to 1,233 transactions, following a 35.71 per cent increase in April.
Taken together, off-plan transactions have climbed 57.87 per cent since the end of February.
“Growing transaction volumes reflect genuine end-user and investor confidence in the government’s long-term development vision for this dynamic aviation and logistics ecosystem, underpinned by the expansion of Dubai World Central into the world’s largest airport.”
Dubai South recorded the highest transaction volume of any area in Dubai during May.
The figures highlight growing demand for communities linked to Dubai’s long-term infrastructure and logistics expansion plans.
Data from DXBinteract shows Dubai’s wider real estate market recorded 10,281 sales transactions worth AED28.9bn ($7.9bn) in May.
The month included:
- 8,772 apartment sales worth AED14.6bn ($4bn)
- 1,037 villa sales worth AED7.2bn ($2bn)
- 133 plot sales worth AED4.2bn ($1.1bn)
- 335 commercial property transactions worth AED2.9bn ($790m)
- Average property prices increased by 3 per cent year-on-year to AED1,650 ($449) per square foot.
Primary sales continued to dominate market activity in May.
A total of 7,595 primary transactions were completed, worth AED18.5bn ($5bn), compared with 2,686 resale transactions valued at AED10.4bn ($2.8bn).
Properties priced below AED2m ($545,000) accounted for more than 70 per cent of all sales activity.
The most expensive villa sold during the month was a property at Signature Villas on Palm Jumeirah, which changed hands for AED145m ($39.5m).
The most expensive apartment sold for AED113m ($30.8m) at Solaya 5 in Jumeirah First.
Other notable apartment sales included:
- AED106m ($28.9m) at Solaya 6 in La Mer
- AED101m ($27.5m) at One Casa in Al Wasl on the Water Canal
With DWC set to become the world’s largest airport, the district is emerging as one of the most closely watched real estate markets in the emirate, attracting both investors and end-users seeking exposure to one of the emirate’s largest infrastructure-led growth stories.
