According to Property Finder, Dubai recorded 180,987 transactions worth AED 522.5 billion (approximately US$142.3 billion) in 2024. This represents a 36.5% increase in volume and 27.2% increase in value compared to the previous peak in 2023.
The main driver of this growth was off-plan sales, which accounted for 60.5% of the total transaction volume, up significantly from 43.6% last year. According to the data, the number of off-plan property transactions reached 109,527, which was a historical record. In value terms, these transactions amounted to AED 228.03 billion (US$62.1 billion), up 43.5% compared to the previous year.
At the same time, the secondary real estate market also showed positive dynamics. The volume of existing transactions increased by 10.9% to around 71,460 transactions, accounting for 39% of the total volume in 2024. The value of these transactions increased by almost 16.9% to reach AED 294.5 billion (US$80.2 billion).
Experts are confident in the stability and growth of the Dubai real estate market in the future. Around 41,000 new residential units are expected to be delivered in 2025. However, only 5,000 of these will be villas and townhouses, highlighting the shortage of supply in this sector despite high demand.
CEOs of major real estate companies note a growing interest in quality projects and high standards in design and construction, which is changing the competitive landscape in the market.
Overall, 2024 has become a key year for the UAE real estate sector, and positive trends are likely to continue into 2025 and beyond.
The main driver of this growth was off-plan sales, which accounted for 60.5% of the total transaction volume, up significantly from 43.6% last year. According to the data, the number of off-plan property transactions reached 109,527, which was a historical record. In value terms, these transactions amounted to AED 228.03 billion (US$62.1 billion), up 43.5% compared to the previous year.
At the same time, the secondary real estate market also showed positive dynamics. The volume of existing transactions increased by 10.9% to around 71,460 transactions, accounting for 39% of the total volume in 2024. The value of these transactions increased by almost 16.9% to reach AED 294.5 billion (US$80.2 billion).
Experts are confident in the stability and growth of the Dubai real estate market in the future. Around 41,000 new residential units are expected to be delivered in 2025. However, only 5,000 of these will be villas and townhouses, highlighting the shortage of supply in this sector despite high demand.
CEOs of major real estate companies note a growing interest in quality projects and high standards in design and construction, which is changing the competitive landscape in the market.
Overall, 2024 has become a key year for the UAE real estate sector, and positive trends are likely to continue into 2025 and beyond.
