Dubai's completed-home market recorded an 11% quarterly increase in transactions during Q3 2026, even as off-plan sales declined, according to Morgan's International Realty's latest report.
November 02, 2026 | Palak Kataria | UAE | Real Estate | 4 Min Read
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Dubai's ready-property market recorded an 11% quarter-on-quarter increase in sales transactions during the third quarter of 2026, contrasting with a 9% decline in off-plan transactions, according to Morgan's International Realty.
The brokerage's latest Dubai Residential Market Report recorded 9,765 transactions involving completed homes between July and September, representing 28% of total residential sales.
Off-plan properties continued to account for the majority of market activity, with 24,861 transactions and a 72% share.
However, the opposing movements suggest a change in the composition of residential sales during a period of weaker overall market activity.
Ready-property transactions increased by 11% compared with the second quarter, even as their total sales value declined by 7% to AED26.86 billion.
The average transaction value for completed properties stood at AED2.75 million.
By comparison, off-plan sales fell 9% to 24,861 transactions, while their combined value declined 22% to AED46.81 billion.
The average off-plan transaction value was AED1.88 million.
The figures indicate that completed properties attracted a greater share of transactions during the quarter, although the reduction in ready-property sales value suggests that the mix or value of homes sold also changed.
Morgan's International Realty noted that the divergence may reflect stronger end-user demand for completed homes.
However, transaction data alone cannot establish buyer motivation, and the report does not conclude that the increase was caused exclusively by end-user purchases.
Dubai recorded 34,626 residential transactions during Q3 2026, down 4% from the previous quarter.
Total sales value reached AED73.67 billion, representing a 17% quarterly decline.
The average transaction value decreased 14% to AED2.13 million.
Compared with the same period in 2025, transaction volumes were 37.5% lower, while total sales value declined 52.2%.
Morgan's report places quarterly transaction activity around levels last recorded in late 2023.
The slowdown provides important context for the increase in completed-home transactions, which occurred despite weaker activity across the wider residential market.
Although off-plan transactions declined during the quarter, they continued to dominate Dubai's residential sales market.
Of the 24,861 off-plan transactions, 22,637 were initial sales and 2,224 were resales.
Initial transactions therefore represented approximately 91% of off-plan activity.
Apartments accounted for 22,319 off-plan sales, significantly exceeding townhouse, villa and hotel-apartment transactions.
This distribution indicates that new apartment developments continued to account for much of the market's transaction activity.
The decline in off-plan sales does not necessarily indicate reduced demand across every development or community, as transaction volumes can also be influenced by project launches and the availability of units.
The contrasting performance of ready and off-plan properties suggests that Dubai's residential market is becoming more differentiated.
Completed homes offer immediate possession, while off-plan purchases involve construction timelines and future delivery considerations.
For buyers, the distinction can influence financing, rental income expectations and the timing of occupancy.
For developers and brokers, changes in transaction patterns may affect sales strategies and the positioning of new residential projects.
However, the report's figures do not establish a permanent shift away from off-plan properties.
With off-plan transactions still representing nearly three-quarters of residential sales, the segment remains central to Dubai's property market.
Morgan's International Realty recorded a development pipeline of 479,105 residential units across 1,713 projects as of September 2026.
Of these, 290,529 units were scheduled for delivery during 2027 and 2028.
The report cautions that scheduled completion dates are subject to change and should not be treated as guaranteed deliveries.
Future handovers could influence the balance between ready and off-plan properties as additional homes enter the completed market.
For now, the 11% increase in ready-property transactions stands out as a notable development within a quarter characterised by declining overall sales activity.
Sources: Morgan’s International Realty, Dubai Land Department, Property Monitor
