Market Reports
Dubai's property market recorded AED 34 billion in transactions across 14,104 deals in June 2026, delivering the disruption cycle's first meaningful recovery signal.
Table of Contents
June 2026 delivered the market's first genuine recovery signal since the disruption cycle began, with total transaction value rising 16.8% to AED 34 billion and deal volumes rebounding 36.9% to 14,104 transactions from May's cycle low. The recovery was broad-based across volume terms in all four asset classes, though commercial property registered a counterintuitive value decline despite a sharp volume surge, reflecting a decisive shift toward smaller-ticket transactions rather than a genuine value recovery in that segment. Azizi Venice's extraordinary 2,402 off-plan sales, the largest single-project monthly absorption recorded in the current cycle, anchored the apartment segment's rebound and amplified the headline recovery figure. Year-on-year comparisons remain challenging, with June still 40.0% below June 2025's AED 56.3 billion in value and 15.9% below the year-ago volume of 16,765 transactions, though this gap narrowed meaningfully from May's extreme deficit.
This report provides a comprehensive overview of Dubai's residential and commercial real estate performance in June 2026, covering transaction volumes and values across apartments, villas, commercial properties, and land plots. It examines the rental market's exceptional performance across all segments, off-plan versus ready sales dynamics, top-performing communities in both sales and leasing, the mortgage market's recovery alongside cash buyer patterns, pricing trends including the first off-plan price increase of the cycle, and the incoming supply outlook for July, offering a detailed picture of a market showing its first credible signs of stabilisation.
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June 2026 delivered the market's first meaningful recovery signal since the disruption cycle began, with total transaction value rising 16.8% to AED 34 billion across 14,104 deals, a 36.9% volume rebound from May's cycle low of 10,301 transactions. The recovery was broad-based in volume terms across all four asset classes, though commercial property registered a counterintuitive 20.7% value decline despite a 43.6% volume surge, reflecting a decisive shift toward smaller-ticket transactions as larger institutional deal flow remained selective. Year-on-year comparisons remain challenging, with June 2026 recording 40.0% below June 2025's AED 56.3 billion in value and 15.9% below the year-ago volume of 16,765 transactions. The month's defining event was Azizi Venice's extraordinary 2,402 off-plan sales, the largest single-project monthly absorption recorded in recent cycle history, that anchored the segment's recovery and amplified the headline result. Rental market activity surged 31.5% to 39,074 new contracts across all segments, providing compelling evidence that Dubai's underlying occupier demand base remains structurally intact despite the challenging sales environment.
Apartment transactions rebounded strongly to 11,872 sales worth AED 18.7 billion in June, a 35.0% volume increase and 26.4% value recovery from May's 8,796 deals and AED 14.8 billion. Off-plan apartments dominated with 9,264 transactions valued at AED 13.7 billion, while ready stock contributed 2,608 deals worth AED 5.0 billion. Azizi Venice's 2,402 off-plan sales were the primary catalyst, representing approximately 25.9% of total apartment off-plan volume and marking the project's emergence as the cycle's dominant off-plan absorption engine. Off-plan pricing stabilised at AED 1,848.8 per square foot from May's AED 1,838, a 0.6% recovery indicating developers are tentatively holding firm after last month's 11.9% retreat. JVC led both off-plan (384 sales) and secondary (350 transactions) activity, underlining its exceptional dual-market depth.
Villa transactions recovered to 1,533 deals worth AED 7.9 billion in June, a 46.3% volume rebound from May's 1,048 transactions, though value growth was a more modest 3.9% from AED 7.6 billion, indicating average transaction values compressed as mid-market villa activity accounted for a larger share. A notable structural development was the near-parity between off-plan (777 transactions, AED 4.450 billion) and ready (756 transactions, AED 3.450 billion) channels, the most balanced split of the current cycle, suggesting the ready market is absorbing June's handover supply more effectively than anticipated. Mortgage buyers remained elevated at 66.5% of villa transactions (1,019 versus 514 cash), an improvement from May's extreme 74.3% that points to gradual re-engagement by cash buyers at current price levels. Villa leasing surged 49.0% to 2,981 contracts, reflecting robust summer family relocation demand.
Off-plan sales rebounded to 10,041 residential transactions valued at AED 18.125 billion in June, a 35.3% volume recovery from May's 7,420 deals and a 15.1% value increase. The segment's volume share held steady at 74.9% of residential transactions while its value share moderated to 68.1%, reflecting compressed average transaction values of AED 1.81 million per deal versus May's AED 2.118 million. Azizi Venice's 2,402 sales were the defining event, accounting for approximately 23.9% of total residential off-plan volume. Pricing stabilised at AED 1,848.8 per square foot, a 0.6% recovery from May's cycle low, suggesting developers are cautiously testing whether the pricing floor has been established.
Commercial property produced a paradoxical result in June, with transaction volume rising 43.6% to 481 deals while total value contracted 20.7% to AED 2.3 billion. This inverse relationship signals a decisive mix shift toward smaller commercial transactions: average deal size fell from AED 8.66 million per transaction in May to AED 4.78 million in June, as retail units and smaller office spaces dominated activity while large-format institutional acquisitions remained scarce. Commercial rental registrations advanced 9.4% to 14,682 contracts, led by a 16.6% increase in office leases to 8,627 and a 33.5% surge in retail and showroom registrations to 1,900, reflecting steady business normalisation rather than the volatile catch-up spikes characterising prior months.
Land transactions staged the strongest proportional recovery of any asset class in June, rising 78.7% in volume to 218 deals and 34.2% in value to AED 5.1 billion from May's 122 transactions and AED 3.8 billion. The rebound signals a shift from defensive capital conservation toward selective offensive positioning by developers, who appear to be acquiring parcels ahead of the next launch cycle as geopolitical uncertainty moderates and market confidence returns. Infill sites in established corridors and land positions in emerging communities attracted renewed institutional interest, with the average deal size recovering from May's compressed levels. With July bringing a very constrained apartment supply pipeline of just 501 units, land demand in established residential corridors may intensify as developers compete for sites in communities demonstrating strong rental and sales absorption.
Dubai's leasing market surged in June, with 39,074 new rental contracts registered, a 31.5% increase from May's 29,717. Apartment leases led with a 49.7% surge to 21,411 contracts, driven by summer relocation activity and normalising business demand. Villa rentals rose 49.0% to 2,981 contracts, maintaining the positive momentum established in May. Commercial leasing advanced 9.4% to 14,682 contracts, demonstrating steadier but more sustainable growth. The leasing market's exceptional performance across all three segments provides the strongest evidence yet that Dubai's population and business formation dynamics remain robust, with the occupier base actively expanding even as the sales market continues its recovery.
Commercial leasing advanced broadly in June, registering 14,728 new contracts across all subcategories. Office leases rose 16.6% to 8,627 contracts as corporate expansion and relocation activity continued normalising. Retail and showroom registrations surged 33.5% to 1,900 deals as consumer-facing businesses secured space ahead of peak summer trading periods. Industrial leasing advanced 20.3% to 290 contracts as logistics operators continued completing near-term capacity requirements. The 'other' category eased 10.1% to 3,911 leases, the sole subcategory to contract as flexible accommodation demand normalised from elevated prior-month levels. The broad-based advance confirms Dubai's commercial occupier base is progressively reactivating as operational certainty improves across the region.
The apartment segment delivered the market's primary recovery engine in June, with 11,872 transactions totalling AED 18.7 billion. Off-plan dominance continued at 78.0% of apartment volume (9,264 deals, AED 13.7 billion), while ready sales contributed 2,608 units worth AED 5.0 billion. Off-plan pricing stabilised at AED 1,848.8 per square foot while ready stock advanced 1.3% to AED 1,754.6 per square foot from May's AED 1,732. Azizi Venice dominated the off-plan landscape with 2,402 sales, followed by City of Arabia (458), Dubailand Residence (392), JVC (384), and Al Furjan (308). The secondary market strengthened meaningfully, led by JVC (350 transactions), the new entrant Jebel Ali Village (219), and Business Bay (191). The segment's 26.4% value recovery, achieved against a backdrop of still-subdued off-plan pricing, demonstrates the depth of underlying end-user and investor demand when project launches align with market appetite.
Villa transactions recovered to 1,533 deals worth AED 7.9 billion in June, with the near-equal split between off-plan (777 units, AED 4.450 billion) and ready (756 units, AED 3.450 billion) channels marking the most balanced villa market structure of the current cycle. The financing composition improved modestly from May's extremes, with mortgage buyers at 66.5% of transactions (1,019 versus 514 cash), down from May's peak of 74.3%, suggesting selective re-engagement by cash buyers at current price levels. Villa leasing surged 49.0% to 2,981 contracts, with Damac Hills 2 extending its rental dominance at 314 new leases, followed by Arabian Ranches 3 (159) and Mirdiff (137). The segment's volume recovery is encouraging, though the modest 3.9% value gain relative to 46.3% volume growth confirms that average transaction prices remain under pressure as mid-market activity drives the rebound.
Commercial sales registered 481 transactions in June, up 43.6% from May, generating AED 2.3 billion in value, down 20.7%. The average deal size contracted from AED 8.66 million per transaction in May to AED 4.78 million in June, clearly indicating the transaction mix has shifted from large-format institutional acquisitions to smaller retail and office units. DIFC 2.0's appearance in the secondary market top five at 147 transactions, likely representing premium per-unit values, provides a counterpoint to the overall value decline and suggests that high-quality commercial assets in prime locations retain their appeal for selective buyers. The commercial sector's recovery path to pre-crisis value levels requires institutional transaction volumes to return, which is likely to follow rather than lead the broader market stabilisation.
Land transactions staged their strongest recovery of 2026, with 218 deals registering AED 5.1 billion, the highest monthly plot value since the disruption cycle began. The 78.7% volume increase and 34.2% value gain signal developers moving from capital preservation toward selective growth positioning, acquiring strategic sites in preparation for the next launch cycle. With July bringing a very constrained apartment supply pipeline of just 501 units, land demand in established residential corridors may intensify as developers compete for sites in communities demonstrating strong rental and sales absorption. The segment's recovery is the most concrete indication yet of returning developer confidence in Dubai's medium-term residential outlook.
June 2026 recorded AED 34.0 billion in total transaction value, a 16.8% recovery from May's cycle low of AED 29.1 billion but still 40.0% below June 2025's AED 56.3 billion.
Sales Transactions Month on Month / May 2026 – June 2026
Year-to-date 2026 cumulative transaction value now stands at AED 289.3 billion across the first six months, compared to AED 328.9 billion in the equivalent 2025 period, a 12.0% shortfall that reflects concentrated value destruction in Q2 despite 2026's exceptionally strong start through February. The month-on-month rebound was led by apartments (+26.4%), plots (+34.2%), and villas (+3.9%), partially offset by commercials 20.7% value decline. The partial recovery confirms May's AED 29.1 billion as the apparent trough, though year-on-year gaps remain wide and full recovery is contingent on sustained regional normalisation.
Transactions Value Graph 2025 v/s 2026
Transactions Value 2025 v/s 2026
Dubai registered 14,104 property transactions in June 2026, up 36.9% from May's 10,301 deals but 15.9% below June 2025's 16,765 transactions, a significant narrowing of the year-on-year volume gap from May's 44.9% deficit.
Transactions Volume Graph 2025 v/s 2026
Apartment volumes rose 35.0% to 11,872 units, villas recovered 46.3% to 1,533 transactions, commercial advanced 43.6% to 481 deals, and plots surged 78.7% to 218. The across-the-board volume recovery marks the most positive monthly data point of the 2026 disruption cycle, with the year-on-year volume gap narrowing from May's extreme levels across every asset class.
Transactions Volume 2025 v/s 2026
Leasing registered 39,074 new contracts in June, a 31.5% surge from May's 29,717 registrations. Apartment leases advanced 49.7% to 21,411 contracts, driven by summer relocation activity and normalising business demand. Villa rentals rose 49.0% to 2,981 contracts, extending the positive momentum established in May.
Commercial leasing advanced 9.4% to 14,682 contracts, demonstrating steady rather than spike-driven growth. The exceptional leasing performance across all three segments, with apartments and villas both approaching 50% monthly increases, provides the most compelling evidence of the current cycle that Dubai's underlying occupier demand base has not been structurally impaired by the disruption period.
New Rental Transactions
Commercial leasing registered 14,728 new contracts in June, advancing across three of four subcategories. Retail and showroom registrations led the growth at 33.5% to 1,900 deals, as consumer-facing businesses secured positions ahead of peak summer trading. Industrial leasing advanced 20.3% to 290 contracts, and office leases rose 16.6% to 8,627 contracts as corporate normalisation continued.
The 'other' category, flexible accommodation and multi-use spaces, contracted 10.1% to 3,911 leases as prior months' elevated accommodation demand normalised. The commercial leasing picture is one of broad-based, sustainable growth rather than the volatile catch-up dynamics that characterised April's spike and May's subsequent reversal.
Commercial Rental Breakdown
Off-plan sales rebounded to 10,041 residential transactions valued at AED 18.125 billion in June, versus 3,364 ready sales worth AED 8.475 billion. Off-plan volume share held at 74.9% while its value share moderated to 68.1% of residential totals as average transaction values compressed to AED 1.81 million, below May's AED 2.118 million, reflecting the dominance of more affordably-priced project launches.
Cash buyers retained market leadership at 74.0% of residential transactions (9,915 cash versus 3,490 mortgage), though the mortgage market's 57.7% volume recovery from May, reaching 3,490 transactions worth AED 7.3 billion, represents the banking sector's clearest signal yet of restored confidence in market fundamentals.
Residential Off Plan v/s Secondary Sales
Apartments led June's residential activity with 11,872 transactions totalling AED 18.7 billion, split between 9,264 off-plan deals (AED 13.7 billion) and 2,608 ready transactions (AED 5.0 billion). Villas registered 1,533 deals worth AED 7.9 billion, comprising 777 off-plan sales (AED 4.450 billion) and 756 ready transactions (AED 3.450 billion).
The villa segment's near-equal off-plan/ready split is notable: ready transactions at 49.3% of villa volume represent the highest ready market share in the villa segment since before the disruption cycle. Apartments accounted for 88.6% of residential volume, and off-plan pricing averaged AED 1,848.8 per square foot, while ready stock advanced to AED 1,754.6 per square foot.
June's off-plan market was defined by Azizi Venice's extraordinary 2,402 transactions, the highest single-project monthly absorption of the current market cycle and nearly triple the project's own May figure of 977 sales. City of Arabia entered the top tier with 458 transactions, reflecting renewed appetite for established master-plan communities, while Dubailand Residence contributed 392 deals. JVC maintained dual-market strength with 384 off-plan sales, and Al Furjan recorded 308 transactions as mid-market communities sustained their appeal. The top five collectively accounted for 3,944 transactions, 39.3% of total off-plan residential volume, with Azizi Venice alone representing 23.9%, underscoring the extraordinary concentration of a single project launch.
Top 5 Performing Areas / Off Plan Sales
The ready market registered 3,364 residential transactions in June, led by JVC's 350 secondary deals, the area's continued dominance reflecting deep liquidity and strong rental fundamentals. Jebel Ali Village emerged as the month's most notable new entrant at 219 transactions, potentially reflecting the community's proximity to Jebel Ali Port and renewed operational confidence in the logistics corridor. Business Bay followed with 191 deals and Dubai Marina contributed 149 transactions. DIFC 2.0 entered the top five at 147 transactions, representing premium commercial-adjacent residential demand in one of Dubai's most sought-after addresses. The secondary market's improved volume, 3,364 versus May's 2,424 transactions, and more diverse community representation signals broadening buyer confidence beyond the core affordable hubs.
Top 5 Performing Areas / Secondary Sales
Apartment rental registrations surged to 21,411 contracts in June, led by JVC's exceptional 1,694 new leases, a 64.6% jump from April's 1,008, confirming the community's position as Dubai's premier affordable rental hub. Business Bay followed with 984 contracts, reflecting strong corporate demand for centrally located units, while International City contributed 811 leases. Dubai Marina registered 775 contracts and Town Square rounded out the top five with 655 deals, the latter's entry displacing Downtown Dubai from the top five and reflecting growing demand for affordable master-planned communities further from the city centre. The surge across all top five communities signals that June's leasing rebound was broad-based rather than concentrated in a single corridor.
Top 5 Performing Areas / New Apartment Rentals
Villa rental registrations surged 49.0% to 2,981 contracts in June, with Damac Hills 2 extending its dominant position at 314 new leases, a 57.0% increase from May's 200. Arabian Ranches 3 followed with 159 contracts, sustaining its top-tier presence from May and confirming growing family demand for newer master-planned communities. Mirdiff contributed 137 leases as its affordability-and-infrastructure combination retained appeal, while Dubai Hills Estate advanced to 115 contracts. The Springs re-entered the top five with 98 leases, reflecting enduring demand for established integrated communities with proven quality infrastructure. The segment's near-50% monthly leasing increase demonstrates that family relocation and corporate housing demand are accelerating into Q3, with Arabian Ranches 3 and Dubai Hills Estate indicating premium family community demand is broadening in the current environment.
Top 5 Performing Areas / New Villa Rentals
Cash transactions retained market leadership in June at 74.0% of residential purchases (9,915 cash versus 3,490 mortgage), a slight improvement in mortgage participation from May's 77.5% cash share. Mortgage activity surged 57.7% from May's 2,214 transactions to 3,490, with total mortgage value rising to AED 7.3 billion, the most substantial single-month mortgage recovery of the cycle. The average loan size reached approximately AED 2.09 million, indicating credit committees are maintaining disciplined underwriting while restoring market access at scale.
Apartments recorded 79.2% cash preference (9,401 cash versus 2,471 mortgage), while the villa segment continued its gradual normalisation to 66.5% mortgage (1,019 versus 514 cash), improving from May's extreme 74.3% as selective cash buyers re-engaged with the segment.
Residential Mortgage Buyers v/s Cash Buyers
Dubai's residential pricing staged a modest recovery in June, with off-plan rates edging up 0.6% to AED 1,848.8 per square foot from May's cycle low of AED 1,838, the first month-on-month off-plan price increase since the disruption cycle began. Ready property values advanced 1.3% to AED 1,754.6 per square foot from May's AED 1,732, marking a second consecutive month of ready price recovery. Year-on-year, off-plan pricing remains 3.5% below June 2025's AED 1,914.7, while ready stock is 3.6% above June 2025's AED 1,693.7, a modestly improving picture in both absolute and relative terms. The off-plan price stabilisation, following May's 11.9% retreat, suggests developers have found a workable floor around AED 1,838–1,849 that is attracting renewed buyer demand without requiring further discounting.
Looking ahead, July brings the tightest monthly apartment supply pipeline of 2026, with only 501 units scheduled for handover, a dramatic reduction from June's 2,638 deliveries. Villa handovers of 917 units, however, are relatively elevated. This asymmetry creates divergent near-term dynamics: apartment ready stock should tighten meaningfully, providing support for price recovery in that segment, while the villa market will need to maintain its improved absorption pace to prevent overhang from the continued handover flow. The combination of record-low apartment supply and recovering demand fundamentals positions the segment for potential pricing advancement through Q3, subject to broader regional stability.
Sales Price Trend (AED per sq.ft.)
June 2026 delivered the market's first concrete evidence that May represented a genuine cycle trough, with a broad-based volume recovery and the first off-plan price increase since the disruption began.
Total transaction value reached AED 34.0 billion across 14,104 deals, a 16.8% monthly rebound that, while still 40.0% below June 2025, establishes a directional shift from the contraction trajectory of Q2. The month's defining event was Azizi Venice's 2,402 off-plan transactions, an absorption figure without recent precedent in the Dubai market, that both validated developer confidence and provided a significant portion of the month's volume recovery. Adjusting for this exceptional single-project contribution, the underlying market recovery is real but more measured, with the secondary market (3,364 deals, the strongest since March) and the leasing market providing the most structurally credible signals.
The leasing market's exceptional performance, 39,074 new contracts including a 49.7% surge in apartment leases to 21,411, is arguably June's most significant data point. JVC's 1,694 apartment rental contracts and Damac Hills 2's 314 villa leases, both substantial multi-month highs, confirm that Dubai's population and household formation dynamics remain robust. The leasing surge simultaneously validates existing property values for income-seeking investors and signals that the occupier base is expanding in the communities most relevant to mid-market and family residential demand.
Mortgage market recovery is the month's other critical signal. With 3,490 mortgage transactions worth AED 7.3 billion, a 57.7% volume increase from May, financial institutions are providing their clearest endorsement of market stabilisation since the crisis began. The gradual improvement in villa financing composition, from May's extreme 74.3% mortgage to June's 66.5%, suggests the segment is beginning its re-normalisation as selective cash buyers return to a market where pricing has reset meaningfully from peak levels.
The commercial property paradox, more transactions, less value, warrants attention as a leading indicator. The shift from large institutional deals to smaller retail and office units reflects a market where operational necessities are being met but strategic capital allocation remains cautious. DIFC 2.0's emergence in the secondary top five and Jebel Ali Village's 219 secondary transactions suggest that both premium and logistics-adjacent assets are finding buyers selectively, providing early evidence of geographic demand broadening.
For the outlook, July's 501-apartment supply constraint is the market's most favourable near-term technical factor. Against a backdrop of recovering demand, stabilising pricing, and a leasing market that is actively absorbing population growth, the arithmetic of very limited new apartment supply arriving in Q3 is compelling for near-term price stability and potential appreciation.
The market's path to closing the year-on-year gap with 2025 remains contingent on regional normalisation continuing and the absence of a further disruption event, but June's data provides the most encouraging foundation for cautious optimism that the cycle has turned.
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