The Dubai real estate sector recorded record volume and value of sales transactions last year, with an impressive performance underscoring investor confidence and robust demand.
According to Betterhomes, there were 168,405 sales transactions with a total value of AED423.36bn ($115.3bn).
This is the highest in the city’s history and represents year-on-year growth of 30 per cent in transaction value and 40 per cent in transaction volume.
Dubai real estate records
The off-plan market led the way, accounting for 63 per cent of total transactions and showing a remarkable 66 per cent YoY growth.
At the same time, the secondary market recorded a strong 14 per cent YoY increase, meeting the needs of end-users seeking immediate ownership.
The prime property market also hit unprecedented highs with the prime market definition being set as transactions of more than AED15m ($4.1m).
This sector saw 1,938 transactions in the secondary market (a 63 per cent YoY increase).
Notable sales included:
- Most expensive resale villa: AED240.5m ($65.5m) in Jumeirah Bay Island
- Most expensive resale apartment: AED275m ($74.8m) in The One at Palm Jumeirah
With 40 super-prime transactions exceeding AED100m ($27.2m), Dubai continues to attract high-net-worth individuals seeking bespoke properties and exceptional lifestyles.
Louis Harding, CEO of Betterhomes, said: “As we reflect on another year of incredible growth and transformation, I am reminded of what makes Dubai’s real estate market truly exceptional. It’s not just the skyscrapers or record-breaking transaction volumes—it’s the vision, resilience, and innovation that define this city.
“2024 has been a landmark year, and as we look ahead to 2025, we remain committed to guiding our clients and creating lasting value.”
Dubai’s real estate market is poised for stabilisation as the population grows and more than 72,000 residential units are set to enter the market. While price growth may moderate, demand remains robust. Additionally, the launch of the Smart Rental Index in 2025 promises to enhance transparency and fairness in rental pricing.
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