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In the second half of 2024, Dubai’s residential real estate market grew significantly, with a 31% year-on-year increase, reaching AED 232 billion in total value.
The primary market outperformed the secondary market in both deal numbers and values. In 2024, 61,435 off-plan transactions were recorded, a 74% increase, with a total value of AED 127 billion (up 51%). The secondary market saw 32,487 transactions, a 15% rise.
Dubai Marina, Downtown Dubai, and Palm Jumeirah solidified their positions as top locations for luxury apartment purchases, driven by population growth and investor activity. Prices rose across most communities, with luxury villas at Jumeirah Golf Estates gaining 35%, Dubai Hills increasing by 27%, and apartments in Springs growing by 26%. These trends highlight Dubai’s appeal to both residents and international investors, ensuring steady price growth and high market activity.
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