Dubai’s real estate sector reached an all-time high in 2024, with 180,900 transactions totalling Dh522.1 billion, according to a report by fäm Properties. The figures reflect significant growth, with transaction volumes rising 36% and sales value increasing 27% compared to 2023, which saw 133,100 transactions worth Dh411.1 billion.
Sales in the primary market surged 30% year-on-year to Dh334.1 billion, driven by strong demand for new developments and off-plan properties. Transaction volumes in this segment rose by 51% to 119,800, with average prices per square foot increasing 10% to Dh1,600.
The surge was supported by new project launches, attractive payment plans, visa reforms, and residency incentives, which fueled foreign investor interest.
The secondary market posted a 21% increase in re-sales, reaching Dh188.1 billion in 2024, while transaction volumes grew 14% to 61,100. The average price per square foot in the re-sale market rose 12% to Dh1,300, reflecting buyers’ preference for ready properties offering immediate occupancy and high rental yields. Infrastructure developments also bolstered property appeal in this segment.
Sector highlights
The report highlighted a 42% year-on-year rise in apartment sales, with 141,168 transactions valued at Dh260.6 billion. Villa sales increased 21.1% to 30,938 units worth Dh164.1 billion. Commercial property transactions rose 10.1% to 4,304 units, amounting to Dh9.7 billion. Land plot sales reached 4,352 units worth Dh86.5 billion, a 2.6% increase from the previous year.
Top-performing areas
In the primary market, Al Barsha South 4 recorded the highest sales volume, with 12,878 first sales from developers, reflecting its popularity among both investors and end-users. Business Bay led in overall sales value, with 6,888 transactions worth Dh21.1 billion. Emerging communities like Madinat Al Mataar and Wadi Al Safa 5 also gained traction, driven by increasing demand for suburban living and integrated developments.
