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Dubai's real estate market witnessed unprecedented growth in 2024, particularly in the second half of the year when residential property transactions reached AED 232 billion ($63.2 billion), marking a 31% year-on-year (YoY) increase. The off-plan market outpaced the secondary market in both value and transaction volume.
A remarkable 61,435 off-plan sales were recorded, a 74% increase compared to the same period last year, with a total value of AED 127 billion ($34.6 billion), up 51%. The secondary market also grew, with 32,487 transactions, reflecting a 15% increase year-on-year.
Average housing prices rose in most communities. Villa prices increased in 19 out of 20 neighborhoods, and apartment prices grew in 10 out of 11 communities. This significant growth is driven by high demand and limited supply as many renters transition to homeownership.
Some areas, including Jumeirah Park, Springs, and Town Square, saw price increases of 21–26%. Luxury villa prices at Jumeirah Golf Estates soared by 35%, while Dubai Hills saw a 27% rise. Emerging areas like Al Furjan also attracted buyers, with prices climbing 26%.
Given 2024’s impressive results, the question arises: can property prices sustain their upward trajectory in 2025? Experts predict that growth will continue but at a more moderate pace as the market stabilizes. Average real price growth is expected to range between 3% and 5%, providing a strong foundation for long-term investment.
Dubai’s real estate market in 2025 is likely to remain attractive to investors, with high demand and limited supply keeping prices elevated, particularly in popular and emerging areas.
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