2024 marked a breaking record year for Dubai’s property market with 180,900 transactions and 142.1 billion USD in value.
Dubai’s real estate market achieved a historic milestone in 2024 with 180,900 transactions valued at AED522.1 billion ($142.1 billion), marking a 36% increase in volume and 27% rise in value compared to 2023.
Primary Market Growth Sales in the primary market surged by 30% to AED334.1 billion ($91 billion), driven by strong demand for new and off-plan properties. The transaction volume grew by 51%, with the average price per square foot rising by 10% to AED1,600.
Factors Behind Demand The growth was fueled by new project launches, attractive payment plans, and residency incentives for foreign investors. The secondary market also saw a 21% rise in re-sales, with transaction volumes up 14%.
Property Sector Performance Apartment sales led the growth with a 42% increase, while villa and commercial property sales also saw significant gains.
Trends in Property Types
- Luxury Villas and Apartments: Luxury properties in prime areas like Palm Jumeirah, Downtown Dubai, and the Dubai Hills continue to be in demand, particularly from international buyers looking for high-end homes or investment opportunities.
- Suburban and Off-Plan Developments: Areas like Dubai Hills Estate, Dubai South, and Mohammed Bin Rashid City are seeing significant interest from families and investors seeking larger homes and affordable pricing compared to more central areas. Many buyers are looking at off-plan developments, which offer payment plans and the potential for capital appreciation once completed.
- Holiday Homes and Short-Term Rentals: The tourism boom, driven by Dubai’s status as a major global tourism and business hub, has sparked strong demand for short-term rental properties. The government has regulated this market, which makes it easier for investors to get involved in the short-term rental sector legally.
The Dubai property market in 2025 is expected to continue its growth trajectory, supported by various economic, social, and regulatory factors that drive both residential and commercial demand. While global economic conditions can always influence trends, the outlook for Dubai’s real estate market in 2025 remains positive, with several key trends and factors shaping the landscape.
Contact to our real estate agents in Dubai for new off-plan or second hand property in Dubai, UAE.
