03 December 2024

Dubai Real Estate: Steady Growth and Investment Opportunities

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Dubai’s real estate market continues to show strong performance. In November 2024, 13,502 transactions were recorded, totaling AED40 billion, according to fäm Properties. This robust demand is driven by economic growth and Dubai’s global appeal.

Apartments Lead the Market

  1. Apartment sales: 10,857 transactions worth AED19.9 billion (+31.2% compared to November 2023).
  2. Villa sales: 1,903 transactions worth AED10.2 billion (-35.8%).
  3. Land plots: 387 transactions worth AED8.1 billion (-39.6%).

Despite some declines in specific segments, the overall market shows growth and consistent demand.

Commercial Properties and Rising Prices

Commercial real estate saw a 5% increase, reaching AED1.3 billion in sales. The average property price per square foot rose by 8.8%, reaching AED1,497. In comparison, it was AED923 in 2020, highlighting a steady upward trend in property values.

Key Locations: Jumeirah Village Circle and Dubai Marina

  1. Jumeirah Village Circle: Leads with 1,528 transactions worth AED1.6 billion.
  2. Dubai Marina: 838 transactions worth AED3.1 billion.

These areas continue to attract investors with their developed infrastructure and high liquidity.

Off-Plan Market Dominance

First sales from developers accounted for 56% of transaction volume and 52% of total value. Notable projects include:

  1. Vida Residences Club Point: 227 apartments sold for AED536.4 million.
  2. Greenridge: 113 villas sold for AED374.8 million.

Diverse Price Range

The market offers opportunities across a wide price spectrum:

  1. 32% of transactions involved properties under AED1 million.
  2. 32% ranged between AED1-2 million.
  3. 17% ranged between AED2-3 million.
  4. 12% ranged between AED3-5 million.

This diversity opens doors for investors with various budgets.

Dubai’s Investment Appeal

Over the past five years, Dubai’s real estate market has shown consistent growth. Transactions increased from 3,800 (AED7.4 billion) in 2020 to 12,200 (AED42.4 billion) in 2023.

Steady price growth and demand reaffirm Dubai’s position as one of the most reliable and profitable investment destinations.

Invest in Dubai real estate to take advantage of the unique opportunities this growing market offers. With its luxurious infrastructure, global appeal, and steady price growth, Dubai is the perfect place to secure your future investments.