Dubai’s luxury real estate market saw record-breaking growth in 2024, driven by soaring re-sale profits and booming transaction volumes. According to fäm Properties, re-sale profits surged 34% compared to 2023, marking a remarkable 1300% increase over the last five years.
Palm Jumeirah led the capital gains with Dh6.48 billion, while other top-performing areas included Dubai Marina, Dubai Hills Estate, Downtown Dubai, and Business Bay. Jumeirah Village Circle emerged as a standout, ranking first in ready property developer sales and second in re-sale transactions after Dubai Marina.
The overall property market saw a 21% increase in resale value and a 14% rise in transaction volume, reaching 61,100 transactions. Apartment sales jumped 42% YoY, totaling 141,168 transactions worth Dh260.6 billion, while villa sales rose 21.1% to Dh164.1 billion. Commercial property and land sales also grew, highlighting Dubai’s resilience and appeal to global investors. An expert praised Dubai’s robust regulatory framework and infrastructure upgrades for driving investor confidence, forecasting continued growth in 2025.