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Source: Adobe
Published on 01/13/2025

Dubai’s Property Market Thrives with Record-Breaking Growth

AED116.5bn Sales in Q4, Luxury Market Drives Dubai's Growth

Dubai’s real estate sector recorded AED116.5 billion ($31.7 billion) in sales transactions during Q4 2024, marking a 31.1% year-on-year increase. According to an expert’s report, transaction volumes also surged by 51.8%, with 46,844 deals closed. The off-plan market emerged as the driving force, contributing over half of the total transaction value. The luxury property segment also played a pivotal role, attracting high-net-worth individuals and institutional investors. Premium properties in Palm Jumeirah achieved record prices, averaging AED4,600 ($1,253) per square foot.

Established communities like Palm Jumeirah, Downtown Dubai, and Dubai Marina continued to dominate, offering exclusivity, lifestyle appeal, and long-term value.

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Meanwhile, growth hubs like Dubai South and Jumeirah Village Circle attracted mid-income buyers, thanks to innovative payment plans and future-ready developments. The expert highlighted Dubai’s strategic planning and investor confidence as key factors behind its booming market. With a population nearing 4 million in 2025, demand across all property segments is set to rise. The emirate’s alignment with the 2040 Urban Master Plan underscores its commitment to sustainability and innovation. As Dubai transitions into 2025, it remains a global leader in real estate, blending inclusivity, exclusivity, and forward-thinking policies to reshape the urban living landscape.