Dubai's property market found its footing again in April after a brief period of uncertainty earlier this year.
Fresh data from Elite Merit Real Estate shows that registered property transactions across the emirate reached AED68.6 billion ($18.68 billion) during the month, up 20% from March. A total of 18,847 deals were recorded.
The rebound comes after activity slowed in late February as regional geopolitical tensions affected investor sentiment. Analysts believe that hesitation was temporary and did not reflect any underlying weakness in Dubai's real estate market.
One trend remained unchanged: buyers continued to favour off-plan properties.
The segment accounted for 70.5% of the adjusted market share in April. Off-plan apartment sales reached AED19.7 billion, the highest monthly total seen this year.
“April’s rebound suggests that Dubai’s real estate market is continuing to stabilise after a short-term correction, with momentum supported by off-plan demand and selective strength across mid-market and prime segments. Early indications for May point to continued stability, with market performance increasingly defined by asset quality, location, and developer pipelines rather than broad-based expansion,” said Ilya Demidov, Managing Director at Elite Merit Real Estate.
The recovery was visible in financing activity as well. Mortgage transactions increased by 33.5% month-on-month to AED14.52 billion. Cash sales also moved higher, reaching AED48.34 billion after growing 13.5%.
Luxury homes continued to attract attention from high-net-worth buyers.
Properties valued above AED10 million generated 995 transactions during April, setting a new record for the segment. These deals made up 5.9% of overall market activity. Projects such as Palm Jebel Ali and Aman Residences remained key drivers of demand in this category.
While sales activity strengthened, the rental market moved in the opposite direction.
Dubai's citywide rental index slipped 1.26% compared to the previous month. It was the first monthly decline recorded during the current market cycle. Average gross rental yields eased to 6.62%.
The gap between the primary and secondary markets also became more noticeable.
Resale transaction volumes fell 43% year-on-year, suggesting buyers are still gravitating toward newly launched projects. Off-plan inventory continued to outperform the secondary market throughout April.
Performance varied widely across individual communities.
Jumeirah Golf Estates Apartments recorded a 5.75% month-on-month increase, while Dubai South posted gains of 2.64%.
Few Dubai's most expensive neighbourhoods experienced a different trend. Emirates Hills saw a 15.43% month-on-month decline, while apartments on Jumeirah Bay Island fell 8.30%. According to the report, these movements reflect an ongoing period of price discovery in parts of the ultra-prime market.
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