The emirate recorded 9,491 transactions involving completed homes between July and September, worth approximately Dh25 billion ($6.8 billion). The quarterly increase was the first since late 2025, although resale volumes remained 23.8 per cent below the corresponding period last year.
Off-plan registrations fell 10.1 per cent from the second quarter to 24,375 transactions, a decline of 45.7 per cent compared with the third quarter of 2025. The figures indicate a divergence between activity in completed properties and homes purchased before construction is finished.
ValuStrat’s third-quarter Dubai Real Estate Review also showed that resale prices softened despite the increase in transaction numbers. The average resale price declined 4.4 per cent quarter on quarter to Dh1,627 per square foot, standing 1.5 per cent below its level a year earlier.
Homes costing less than Dh1 million accounted for approximately one-third of resale transactions. Jumeirah Village Circle was the busiest location, representing 12.8 per cent of sales, followed by Business Bay at 6 per cent, Dubai Marina at 5.3 per cent and Downtown Dubai at 3.8 per cent.
The contrasting figures suggest that more transactions are taking place in the existing housing stock even as demand for newly marketed developments remains under pressure. Nevertheless, the annual decline in resales means the quarterly improvement does not amount to a return to last year’s trading levels.
Off-plan purchases continued to account for the majority of transactions recorded in ValuStrat’s two residential categories. Their share, however, narrowed as the number of registrations declined and completed-home sales recovered from the preceding quarter.
ValuStrat’s residential price index stood at 218.6 points at the end of September, down 4.5 per cent from a year earlier. The consultancy described this as the first annual contraction in its citywide index since the pandemic. Monthly declines had slowed substantially by September, indicating a moderation in the pace of price adjustments.
The index measures changes in capital values rather than simply the prices achieved in individual transactions. Its annual fall therefore provides a separate indication of market conditions alongside sales volumes and average transaction prices, which can be influenced by the mix of properties changing hands.
Other market assessments also point to weaker off-plan activity. Property research based on Dubai Land Department registrations showed off-plan sales representing a smaller proportion of total transactions during the third quarter than in the preceding three months. Different providers apply distinct classifications and reporting cut-offs, making their headline totals not always directly comparable.
A separate assessment by Cavendish Maxwell found that Dubai’s overall residential sales volumes and values had fallen substantially compared with the third quarter of 2025. The consultancy said purchasers had become more cautious amid regional uncertainty, while delays between agreements and formal registrations could affect the timing of recorded sales.
The supply outlook remains an important consideration for developers and purchasers. ValuStrat said approximately 33,000 homes had been completed by the end of September, representing less than one-third of projected deliveries for the full year. Construction delays and supply-chain pressures continued to affect the pace at which projects reached completion.
The consultancy’s findings also revealed differences between residential property types. Its prime villa sub-index registered a 1.2 per cent annual increase, even as the broader residential index moved lower. This illustrates the variation in price performance across Dubai’s housing market rather than a uniform adjustment in every segment.
ValuStrat’s wider review covered commercial and industrial properties alongside housing. Its office capital value index reached 304.6 points, while industrial logistics values increased 19.6 per cent annually, contrasting with the weaker annual performance recorded for residential capital values.
The September figures offered a narrower view of the same market. ValuStrat recorded 6,884 off-plan registrations and 2,907 ready-home transactions during the month. Off-plan activity represented 70.3 per cent of those sales, demonstrating that properties under development continued to dominate registrations despite the sustained quarterly slowdown. September ready-home sales also fell from August levels.
For buyers comparing existing homes with properties under development, the latest transaction figures distinguish between completed units available for occupation and purchases dependent on future delivery schedules. The consultancy’s quarterly data record registrations rather than measuring individual purchasers’ motivations.
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