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In 2024, Dubai’s real estate market reached unprecedented heights, solidifying its position as one of the most attractive investment destinations. The total number of transactions increased by 27%, reaching 180,900 deals, while their combined value surged by 36% to AED 522.1 billion. The average price per square foot rose by 10% to AED 1,600, highlighting the high profitability of investments in the region.
Key growth drivers
Strong demand for off-plan properties: Sales grew by 30%, reaching AED 334.1 billion, driven by attractive payment plans and low interest rates.
- Increased secondary market activity: Transactions rose by 21%, totaling AED 188.1 billion.
- Urban infrastructure development: The implementation of the Dubai 2040 Master Plan has significantly enhanced the city’s appeal.
- Favorable tax policies: No property tax or rental income tax.
- Golden Visa program: Investors spending at least AED 2 million on property qualify for long-term residency.
Top 5 areas by transaction volume
- Business Bay – 6,888 transactions, AED 21.1 billion
- Al Barsha South 4 – 12,878 off-plan sales
- Wadi Al Safa 5 – 602 transactions, AED 13.6 billion
- Dubai Marina – 4,924 transactions, AED 15.2 billion
- Al Barsha South – 412,878 transactions, AED 13.5 billion
Most In-demand property types
- Apartments: Sales surged 42% to AED 260.6 billion.
- Villas & townhouses: Sales increased 21% to AED 164.1 billion.
- Commercial properties: Sales rose 10% to AED 9.7 billion.
- Land plots: Moderate growth of 2.6%, reaching AED 86.5 billion.
Dubai’s long-term urban development plans through 2040 continue to boost its attractiveness among both local and foreign investors. Ongoing infrastructure improvements, new residential and commercial projects, and major international events contribute to the steady growth of the real estate market.
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