Dubai real estate has gained attention in mid-market and affordable apartments, two of five ready homes are worth less than AED1M, according to ValuStrat. Residential, commercial, ad hospitality segments have shown robust growth and increased activity. Real estate sector experienced growth in Q3 2024, reporting population growth and reduced interest rates.
Source: Emaar Properties
Sales and mortgage applications increased while office and warehouse price hit record level. Average sale time softened and average size of sold homes shrunk to lowest. 28.9% annual increase in residential value is observed 98% villa doubled in value since 2020 as freehold villa communities surpassed ten-year price peaks. 33.1% price rise in existing villa and townhouses and apartment price increased by 24.8% this quarter.
Apartment rental increased by 15.4% over the year. Office spaces are also in demand with moderate growth by 2.6% this quarter, witnessing 25.8% annual increase. Strong demand is fuelled by favourable conditions, business expansion and new companies entering the market.