Dubai’s property market has surpassed AED 500 billion in transactions from November 2023 to November 2024, according to dubizzle. This surge is fueled by government initiatives like revised property visa offerings and expanded freehold areas, said Haider Ali Khan, CEO of dubizzle and Dubizzle Group MENA.
Luxury Segment:
Dubai Marina: High-end apartments average AED 2.55M in sales and AED 145K in annual rents, with a 15% rise in price per square foot.
Dubai Hills Estate: Villas lead at AED 16.07M in average sales.
Al Barsha: Tops villa rentals at AED 436K annually.
Mid-Tier Market:
Jumeirah Village Circle (JVC): Apartment sales average AED 1.12M with rents at AED 78K/year, up 20% in price per square foot.
Al Furjan: Villas average AED 4.86M in sales, with notable increases across unit types.
Affordable Segment:
Dubai Silicon Oasis: Apartments average AED 805K with a solid 8.33% ROI.
DAMAC Hills 2: Villas average AED 1.92M in sales and AED 115K in annual rents.
Mid-Tier: Living Legends leads with an 11.16% ROI for apartments.
Luxury: Al Barari villas offer a 7.39% ROI, while Green Community apartments hit 8.48%.
Affordable: Dubai Investment Park apartments deliver a strong 9.98% ROI.
JVC villa prices rose 38%, while Dubai South saw a 25% hike. Luxury communities like Jumeirah Park recorded a 24% increase, with villas averaging AED 8.72M. The rental market is equally dynamic. Downtown Dubai luxury apartments rent for AED 213K/year, while Palm Jumeirah villas command AED 1.49M annually. Mid-tier rentals like Town Square and Reem offer villas for AED 160K and AED 183K per year.
Dubai’s real estate market remains robust, driven by strategic government policies and a growing investor base. With options across all price points, the city continues to attract global buyers and tenants.