AED 522.5 billion in transactions marks a significant milestone for Dubai’s real estate market in 2024, recording a 27% year-on-year increase.
The latest figures show that total sales volume amounted to 181,000 real estate transactions recorded during the year.
This reflects a notable 36% year-on-year increase sales transactions in the Dubai real estate market, with growth observed in both demand and sales volume across various segments.
The city’s primary market witnessed a remarkable +30% year-on-year growth first sales in 2024, with sales soaring to AED 334.1 billion.
This spike in activity can largely be attributed to the soaring demand for both new and off-plan properties, as buyers and investors continue to flock to the emirate in search of stable, profitable opportunities.
Whether it’s the allure of Dubai’s luxury real estate developments or the growing demand for properties offering a modern, sustainable lifestyle, the city continues to prove its resilience and appeal as a global real estate hub.
The city’s primary market witnessed a remarkable +30% year-on-year growth first sales in 2024, with sales soaring to AED 334.1 billion.
This spike in activity can largely be attributed to the soaring demand for both new and off-plan properties, as buyers and investors continue to flock to the emirate in search of stable, profitable opportunities.
Whether it’s the allure of Dubai’s luxury real estate developments or the growing demand for properties offering a modern, sustainable lifestyle, the city continues to prove its resilience and appeal as a global real estate hub.
Husni Al Bayari, Chairman & Founder of Bayari Investments, stated, “The extraordinary performance of Dubai’s real estate market in 2024 is not merely a reflection of numbers, it embodies the emirate’s unwavering vision, resilience, and global appeal. With ambitious government initiatives focused on economic diversification, infrastructure expansion, and social advancement driving the push to position Dubai as a global innovation and sustainability leader, this milestone in 2024 highlights the commitment to excellence and delivering unmatched value to investors and residents alike.”
Dubai Real Estate Sees Strong 2024 Growth
Plots sales were a driving force behind the AED 522.5 billion in 2024 transactions, totalling AED 86.4 billion from 4,336 plots sold.
This reflects a 2.3% increase from 2023 and shows that land investments remain a key driver in the market.
As Dubai develops and expands, demand for residential and commercial plots grows including Downtown Jebel Ali, Dubai Islands and Jumeirah Bay Island, paving the way for further investment opportunities.
This reflects a 2.3% increase from 2023 and shows that land investments remain a key driver in the market.
As Dubai develops and expands, demand for residential and commercial plots grows including Downtown Jebel Ali, Dubai Islands and Jumeirah Bay Island, paving the way for further investment opportunities.
The real estate market in Dubai experienced a transformative year in 2024, setting new records and showing strong growth across all sectors. Villas saw AED 164.3 billion in sales, buildings totaled AED 1.1 billion, and commercial properties reached AED 9.7 billion.
The apartment market led the way, experiencing a 42.2% year-on-year increase in transaction volume.
The market recorded 141,397 apartment sales, totalling AED 261 billion. This surge reflects growing demand for quality residential options, driven by factors such as affordable pricing for first-time buyers, investor confidence, and Dubai’s expanding skyline offering a wide range of housing options.
The villa market saw strong growth in 2024, with 30,975 sales, a 21.2% increase from 2023, totaling AED 164.3 billion. High demand for spacious, family-friendly homes in suburban areas fuels this growth.
One of the standout features of the 2024 real estate market has been the consistent growth across multiple sectors.
From the booming off-plan sales to the influx of foreign investors, Dubai’s real estate market has been able to balance rapid growth with long-term sustainability.
This stability has made Dubai an attractive destination for international property investors, particularly as the global economic environment remains uncertain.
The apartment market led the way, experiencing a 42.2% year-on-year increase in transaction volume.
The market recorded 141,397 apartment sales, totalling AED 261 billion. This surge reflects growing demand for quality residential options, driven by factors such as affordable pricing for first-time buyers, investor confidence, and Dubai’s expanding skyline offering a wide range of housing options.
The villa market saw strong growth in 2024, with 30,975 sales, a 21.2% increase from 2023, totaling AED 164.3 billion. High demand for spacious, family-friendly homes in suburban areas fuels this growth.
One of the standout features of the 2024 real estate market has been the consistent growth across multiple sectors.
From the booming off-plan sales to the influx of foreign investors, Dubai’s real estate market has been able to balance rapid growth with long-term sustainability.
This stability has made Dubai an attractive destination for international property investors, particularly as the global economic environment remains uncertain.
2024 Marks Record Home Sales at Burj Khalifa
Among the many achievements of 2024, one of the most notable is the continued success of the Burj Khalifa as a residential address.
Sales for this iconic tower reached AED 467.1 million in 2024, marking a 12.9% growth compared to the previous year.
With prices averaging AED 3,000 per square foot, the Burj Khalifa has solidified its position as a symbol of luxury, offering a unique lifestyle in the heart of Dubai’s downtown.
The Burj Khalifa’s success is not just about numbers, it reflects the growing appeal of Dubai’s luxury real estate market.
High-net-worth individuals from around the world are increasingly seeking out exclusive, high-quality residences that offer unrivalled views, amenities, and privacy.
As Dubai’s economy expands, demand for premium properties like the Burj Khalifa remains strong, with investors and homeowners alike competing for a piece of the city’s most iconic real estate.
Sales for this iconic tower reached AED 467.1 million in 2024, marking a 12.9% growth compared to the previous year.
With prices averaging AED 3,000 per square foot, the Burj Khalifa has solidified its position as a symbol of luxury, offering a unique lifestyle in the heart of Dubai’s downtown.
The Burj Khalifa’s success is not just about numbers, it reflects the growing appeal of Dubai’s luxury real estate market.
High-net-worth individuals from around the world are increasingly seeking out exclusive, high-quality residences that offer unrivalled views, amenities, and privacy.
As Dubai’s economy expands, demand for premium properties like the Burj Khalifa remains strong, with investors and homeowners alike competing for a piece of the city’s most iconic real estate.
JVC and Business Bay Lead the Charge
While the Burj Khalifa continues to shine in the luxury segment, other areas of Dubai are also experiencing significant growth.
Jumeirah Village Circle (JVC) led the way in sales volume, with 17,523 sales transactions, reflecting a 22.6% increase from the previous year. This amounts to AED 20.6 billion in sales volume, which is a 33.8% increase from 2023.
This area has become a hotspot for new homeowners, with its blend of affordable properties, convenient location, and family-friendly amenities.
JVC’s appeal lies in its ability to offer excellent value for money while being close to major transport links, shopping centres, and schools, making it an attractive option for young families and first-time buyers.
In terms of sales value, Business Bay emerged as a leader, with 12,031 transactions worth AED 30.9 billion completed in 2024, recording 18% and 36.5% increase respectively.
Business Bay’s proximity to Dubai’s central business district, along with its dynamic mix of residential and commercial properties, has made it a favoured choice for both investors and tenants.
The area continues to attract both local and international investors eager to capitalize on the growth of Dubai Real Estate’s commercial and residential
Jumeirah Village Circle (JVC) led the way in sales volume, with 17,523 sales transactions, reflecting a 22.6% increase from the previous year. This amounts to AED 20.6 billion in sales volume, which is a 33.8% increase from 2023.
This area has become a hotspot for new homeowners, with its blend of affordable properties, convenient location, and family-friendly amenities.
JVC’s appeal lies in its ability to offer excellent value for money while being close to major transport links, shopping centres, and schools, making it an attractive option for young families and first-time buyers.
In terms of sales value, Business Bay emerged as a leader, with 12,031 transactions worth AED 30.9 billion completed in 2024, recording 18% and 36.5% increase respectively.
Business Bay’s proximity to Dubai’s central business district, along with its dynamic mix of residential and commercial properties, has made it a favoured choice for both investors and tenants.
The area continues to attract both local and international investors eager to capitalize on the growth of Dubai Real Estate’s commercial and residential