Dubai’s property market defied the typical summer lull in July, with rental activity surging as families and professionals relocated ahead of the new academic year, according to Dubai Land Department (DLD) data.
The total value of property sales transactions climbed 17% month-on-month to AED 51.67 billion ($14.1 billion), while transaction volumes rose 21% from June and 26% compared to July 2023.
Relocations Fuel Rental Growth
The rental sector led the momentum, with new lease agreements rising 12% in July compared to the previous month. Demand for villas and townhouses grew 8% by volume, while apartment rentals surged 37%, driven by an influx of teachers, hospitality staff, and corporate professionals preparing for September job starts.
“July has been one of our strongest months yet,” said Lewis Allsopp, Chairman of Allsopp & Allsopp. “This is prime time for people relocating, starting new jobs, or enrolling children in school.”
The agency recorded a 26% monthly increase in villa and townhouse rentals, alongside a 33% year-on-year jump in average prices for these properties. While villas and townhouses represented 33% of rental transactions by volume, they accounted for 58% by value—reflecting the growing preference for larger homes among incoming families.
Dubai’s private school enrolments have already risen 6%, with five new schools scheduled to open next year, further fuelling demand for family-oriented properties.
The so-called quiet summer period also saw a 21% increase in new property listings and a 24% rise in viewings at Allsopp & Allsopp, signalling what agents describe as a shift in Dubai’s real estate cycle.
“The idea that the market slows when residents leave for summer is outdated,” Allsopp noted. “The activity we’re seeing reinforces Dubai’s appeal as a place to live and work year-round.”
