Dubai’s real estate market has had an extraordinary year in 2024, reaching unprecedented heights with 180,900 transactions valued at AED 522.1 billion. This marks a significant leap of 36% in sales volume and 27% in value compared to 2023, which recorded 133,100 sales worth AED 411.1 billion.
The primary market witnessed a 30% year-on-year increase, with sales from developers reaching AED 334.1 billion. Off-plan properties remained a top choice, with transaction volumes rising by 51% to 119,800. The average price per square foot also climbed by 10%, hitting AED 1,600. This growth was primarily driven by attractive payment plans, appealing new project launches, and investor-friendly residency visa reforms
The primary market witnessed a 30% year-on-year increase, with sales from developers reaching AED 334.1 billion. Off-plan properties remained a top choice, with transaction volumes rising by 51% to 119,800. The average price per square foot also climbed by 10%, hitting AED 1,600. This growth was primarily driven by attractive payment plans, appealing new project launches, and investor-friendly residency visa reforms
The primary market witnessed a 30% year-on-year increase, with sales from developers reaching AED 334.1 billion. Off-plan properties remained a top choice, with transaction volumes rising by 51% to 119,800. The average price per square foot also climbed by 10%, hitting AED 1,600. This growth was primarily driven by attractive payment plans, appealing new project launches, and investor-friendly residency visa reforms
In a move to enhance transparency and sustainability, the Dubai Land Department (DLD) launched the Smart Rental Index 2025. This AI-powered system evaluates properties based on technical features, maintenance quality, location, and amenities, ensuring fair rental valuations. In 2024 alone, over 900,000 rental contracts were registered, marking an 8% growth from the previous year.
Dubai’s resilience amidst global economic uncertainties. “With transaction volumes soaring, strong rental demand, and luxury property resilience, Dubai remains a global investment hub,” he said.
As Dubai continues to set new benchmarks in the real estate sector, the city’s commitment to innovation, transparency, and investor-friendly policies ensures a bright and sustainable future for its property market.
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