Dubai’s real estate market reached historic highs last year, recording 168,405 sales transactions worth a total of AED423.36bn ($115.3bn). This marked a 30% year-on-year (YoY) growth in transaction value and a 40% increase in volume, highlighting strong investor confidence and robust demand. The off-plan market dominated, contributing 63% of all transactions with a 66% YoY growth, while the secondary market saw a 14% rise, meeting the needs of immediate buyers.

The prime property market also soared, defined by transactions exceeding AED15m ($4.1m). Notable highlights included the most expensive villa resale at AED240.5m ($65.5m) in Jumeirah Bay Island and the priciest apartment resale at AED275m ($74.8m) in The One at Palm Jumeirah. Additionally, 40 super-prime transactions surpassed AED100m ($27.2m), solidifying Dubai’s status as a hub for luxury real estate.

An expert praised Dubai’s resilience and innovation: "2024 has been a landmark year.” Looking ahead, 72,000 new residential units are expected to enter the market in 2025, alongside the launch of the Smart Rental Index, aimed at promoting transparency and fairness in rental pricing. With demand remaining strong, Dubai’s real estate market continues to attract global high-net-worth individuals and investors.