The strong growth of the real estate market in Dubai continues in Q3 2024 and continues to offer promising prospects for investors.
In the first nine months of the year, a total of 112,845 transactions worth AED 298 billion were recorded. This represents an impressive increase of 34% compared to the same period last year (Q1-Q3 2023). Compared to the second quarter of 2024 (Q2 2024), transactions increased by 18%, underlining the continued momentum of the market.
Over 25,000 real estate transactions were registered in Q3 2024, which represents a stable increase of around 10% compared to the same period last year. Particularly noteworthy are the rising sales figures in the high-end segment and the increase in transactions in the "off-plan" segment.
There is a trend towards increased demand for luxury properties and exclusive residential complexes. The market for premium real estate, particularly in well-known areas such as Palm Jumeirah, Dubai Hills, Downtown Dubai and Dubai Marina, has continued to attract the interest of global investors.
The rental market is also showing positive signs. Demand for rental apartments has increased in many areas, which has led to a rise in rental prices. Particularly in sought-after districts such as Dubai Marina, Jumeirah Lake Towers (JLT) and Business Bay, rent increases of up to 7% have been recorded in the last three months. This continues to offer attractive returns to real estate investors looking for stable income streams.
Another key factor supporting the real estate market in Dubai is the continuous development of urban infrastructure, such as the expansion of the metro system and highway connections. Numerous large-scale projects are increasingly taking shape. The redevelopment of areas such as Dubai Creek Harbour and the up-and-coming District 2020, which was conceived as the long-term legacy of Expo 2020 and is intended to function as a future economic hub, have the potential to increase real estate values in the long term.
Dubai is positioning itself not only as a prime living space, but also as a global real estate hotspot. The trend towards modern, sustainable and well-located properties continues and shows that Dubai is resilientand expanding despite global uncertainties.