Dubai’s real estate sector recorded total sales transaction values of $31.7 billion in Q4 2024, marking a 31.1% year-on-year increase, according to a report by Springfield Properties. Transaction volumes also saw a significant rise, up 51.8% to 46,844 deals.
Driving this expansion was the off-plan market, accounting for over half of the total transaction value, alongside Dubai’s booming luxury property sector, which continues to draw high-net-worth individuals and institutional investors from around the globe. Iconic communities such as Palm Jumeirah, Downtown Dubai, and Dubai Marina remain key contributors, offering a unique mix of exclusivity, lifestyle appeal, and lasting value, according to the report.
“Dubai’s real estate market continues to demonstrate remarkable strength and global appeal, underpinned by strategic planning, visionary developments, and investor confidence. This growth is the result of a deliberate focus on meeting evolving buyer preferences while setting new benchmarks in quality, innovation, and sustainability,” Farooq Syed, CEO of Springfield Properties, said.
The report shed light on the pivotal role of the off-plan segment in driving Dubai’s real estate success, with 30,388 transactions in Q4, bolstered by innovative payment plans and strong investor demand for future-ready assets. Growth hubs like Dubai South and Jumeirah Village Circle attracted mid-income buyers, while luxury developments in Palm Jumeirah and Dubai Hills Estate drew a global audience seeking exclusivity and modernity.
Meanwhile, the luxury segment strengthened its position as a key market driver, with premium properties in Palm Jumeirah recording the highest average sales price at $1,252 per sq ft. These figures highlight Dubai’s ability to meet the demands of affluent global buyers, cementing its status as a leader in the ultra-luxury real estate market, the report noted.
With Dubai’s population nearing 4 million in 2025, the demand for properties across all segments continues to grow. Areas like Dubai South, emphasizing inclusivity and strategic infrastructure, are poised to complement the enduring appeal of luxury hotspots such as Palm Jumeirah and Downtown Dubai. The city’s alignment with the Dubai 2040 Urban Master Plan underscores its dedication to creating a sustainable, forward-looking real estate landscape that attracts both global investors and end-users.
