The Dubai real estate sector saw sales of more than $115bn last year as transaction value increased by 25 per cent, according to haus & haus data.
Off-plan properties led the market and one area stood out with rental yields of almost 9 per cent.
Luke Remington, Managing Director of haus & haus, said: “While much of the conversation around Dubai’s property market in 2024 has centred on whether a slowdown is imminent, the numbers tell a different story.
Dubai real estate growth
“By analysing over 30 communities, our report highlights the key areas driving growth, providing fresh perspectives for anyone covering the market.”
Dubai’s real estate market exceeded expectations in 2024, continuing its upward trajectory, haus & haus said. Significant highlights included:
- Total sales value: AED423.15bn ($115.2bn/+35 per cent YoY)
- Transactions: 695,608 (+9 per cent YoY)
- Average price per square foot: AED1,702 ($463/+6 per cent YoY)
2024 marked a standout year for Dubai’s off-plan property market, consolidating its position as a key driver in Dubai’s overall real estate performance.
Key highlights from the off-plan market include:
- Off-plan sales and resales: AED233.19bn ($69bn/+53 per cent YoY)
- Transactions: 106,688 (+66 per cent YoY)
- Average price per square foot: AED1,838 ($500/ +1 per cent YoY)
This surge in activity reflects a robust demand for premium properties, strategic project launches, and continued foreign investment, underscoring Dubai’s off-plan market as a top choice for long-term investment.
Dubai’s real estate market saw impressive growth in 2024, with two standout communities, Arabian Ranches 2 and Villanova achieving strong performance:
- Arabian Ranches 2: 5.5 per cent rental yield with a 22 per cent increase in price per square foot
- Villanova: 8.9 per cent rental yield and a 22 per cent increase in price per square foot
As Dubai’s property market continues to evolve, certain communities show strong growth potential, making them key areas for investment in 2025.
These emerging hotspots highlight the demand for well-located, family-friendly, and high-yielding properties:
- Victory Heights: With a 5.3 per cent rental yield and a 23 per cent rise in price per square foot, Victory Heights has become increasingly attractive to investors looking for long-term growth
- Jumeirah Village Triangle (JVT): A 40 per cent increase in price per square foott and a 3.3 per cent rental yield signal growing interest in JVT, positioning it as a strong contender for future investments
Steven Leckie, Associate Director — Off Plan and Investment at haus & haus said: “All indications are, from all the people I’m talking to, there’s going to be many people moving here. It’s not just people coming here to work, its people coming here to retire, people coming here to invest, selling up wherever they are in the world and bringing that money here to Dubai.”
Follow us on
