Dubai's real estate market has demonstrated remarkable resilience and growth throughout 2024, setting new records and attracting global investor interest.

Record-Breaking Transactions and Sales Values

In October 2024, Dubai's real estate sector achieved its highest-ever monthly transaction value, reaching $16.7 billion. This surge was significantly driven by a 109% increase in off-plan property sales, highlighting robust investor confidence in the market's future prospects.
ARABIAN BUSINESS

Sustained Growth in Q3 2024

The third quarter of 2024 saw unprecedented activity, with 50,425 transactions totaling AED 141.95 billion—a 38% increase in volume and a 30% rise in value compared to the same period in 2023. This growth underscores Dubai's position as a global real estate powerhouse, reflecting both resilience and growth potential amid fluctuating global economic conditions.
DXB INTERACT

Luxury Segment Performance

Dubai's high-end property market remained stable in the first half of 2024, with 190 homes valued at $10 million or more sold, totaling $3.2 billion. This performance occurred despite a 65.5% drop in available listings, indicating sustained demand from international ultra-wealthy buyers.
REUTERS

Emerging Developments

Developers are capitalizing on the market's momentum with significant new projects. For instance, Binghatti launched the AED 5 billion Skyrise project in Business Bay, aiming to double its project portfolio to over $27.2 billion.
CONSTRUCTION WEEK ONLINE

Outlook for 2025

Looking ahead, the Dubai real estate market is expected to continue its upward trajectory. However, affordability challenges in the rental sector may prompt a shift towards homeownership for long-term residents. Global economic trends and local policy developments will play crucial roles in shaping the market's dynamics in 2025.
ARABIAN BUSINESS

In summary, Dubai's real estate market in 2024 has been characterized by record-breaking transactions, sustained growth in the luxury segment, and significant new developments, positioning it favorably for continued expansion in the coming year.