In the third quarter of 2024, Dubai’s real estate market set a new record with total sales reaching AED 138.8 billion. This impressive figure reflects the sustained interest in Dubai properties, particularly in off-plan and secondary market sales. The boom is fueled by an influx of international investors and the rising demand for luxury residential and commercial properties.
Most of the sales growth is attributed to the high demand for off-plan properties, which constitute a significant portion of the total sales. Off-plan investment, where buyers acquire properties in the development stage, remains highly attractive. Simultaneously, the secondary market shows considerable strength, as existing properties continue to appreciate in value due to limited new construction.
With a stable economy and favorable legal environment for foreign investors, Dubai continues to attract international capital. The record sales in Q3 2024 indicate that buyers worldwide trust the market’s growth potential and returns. European and Asian investors, in particular, view Dubai as a safe haven and a lucrative alternative to other metropolitan areas.
Luxury properties in prime locations such as Palm Jumeirah and Downtown Dubai remain highly sought after, leading to further price increases. The commercial property market also benefits from the ongoing economic boom, attracting businesses looking to expand their presence in the region.
The third quarter of 2024 has shown that Dubai’s real estate market continues to thrive, reaching new record figures. With robust demand in the off-plan segment and a stable secondary market, Dubai remains a top destination for investments. For investors and buyers, this boom opens up significant opportunities, strengthened by a continuously expanding infrastructure and attractive incentives.
