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Source: Freepik
Published on 01/29/2025

Dubai Real Estate Booms in 2024 with Record Transactions and Soaring Demand

Transactions Up 47%, Off-Plan Sales Hit 68%, and Luxury Market Grows 23%

Dubai’s residential real estate market had a stellar 2024, with a 47% transaction surge driven by strong investor confidence. Off-plan sales dominated at 68%, up from 55% in 2023, as buyers flocked to high-quality projects.

Developers launched over 50,000 new units, a 25% increase from 2023, with hotspots like Jumeirah Village Circle, Dubai Hills Estate, and Al Barari leading the market. Luxury properties thrived, with 4,600+ homes priced above AED 10M ($2.7M) sold, a 23% rise. Villa sales outpaced apartments in the premium segment, jumping 33% year-on-year.

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Rental prices climbed, with apartment rents up 16% and villa rents rising 13%, reflecting Dubai’s expanding demand. Areas like Al Furjan saw rental spikes of 26%.

Experts predict sustained growth in 2025, with continued demand for off-plan projects and luxury homes. Dubai’s position as a global real estate hub remains stronger than ever.