Dubai’s real estate market experienced unprecedented growth in 2024, with a record-breaking 180,900 transactions worth AED522.1 billion. This represents a significant surge compared to 2023, with sales volume increasing by 36% and value by 27%.
- Primary Market: Strong demand for new developments fueled a 30% increase in sales value to AED334.1 billion.
- Secondary Market: Resale activity remained robust with a 21% increase in value to AED188.1 billion.
- Increased Buyer Confidence: Favorable payment plans, residency incentives, and infrastructure improvements attracted both local and international buyers.
- Strong Performance Across Sectors: Apartment sales led the way, followed by villas, commercial properties, and plots.
- Popular Areas: Al Barsha South 4 dominated in terms of volume, while Business Bay led in terms of sales value.
Firas Al Msaddi, CEO of fäm Properties, stated that the market’s resilience and strong performance despite global economic uncertainties underscore Dubai’s position as a leading real estate destination. In essence, 2024 was a landmark year for Dubai’s real estate market, characterized by robust growth, increased investor confidence, and a diverse range of appealing properties.
