FY2024 Dubai Real Estate Market Highlights: A Year of Growth and Transition
Dubai's real estate market set new benchmarks in 2024, achieving a record-breaking transaction value of AED 423.36 billion from over 168,405 sales transactions, a growth of 30% in transaction value and 40% in transaction volume year-on-year (YoY). The off-plan Dubai market accounted for 63% of total transactions and showed a remarkable 66% YoY growth, making new off-plan developments in Dubai attractive options for global investors.
According to the Dubai Real Estate Market FY2024, Dubai's real estate market is poised for stabilization as the population grows, with over 72,000 residential units expected to enter the market. While price growth may moderate, demand remains robust, especially with infrastructure initiatives in the pipeline. Projects like Etihad Rail Network and Dubai's Metro Line will improve connectivity and intra-city travel and foster quicker urban expansion.
2024 has also been a landmark year for luxury off-plan investment in Dubai, with the prime property market (properties valued over AED 15 million) hitting unprecedented highs with 1,938 total transactions in the secondary market. With 40 super-prime transactions exceeding AED 100 million, Dubai continues to attract high-net-worth individuals seeking bespoke properties and exceptional lifestyles, pointing toward significant growth in 2025 for off-plan property sale Dubai.
Tourism remains a key economic growth area, with various initiatives heavily influencing retail, hospitality, and real estate demand in the sector, bolstering the rental market.
Additionally, the Smart Rental Index launch in 2025 promises to enhance transparency and fairness in rental pricing. From luxury penthouses to accessible apartments, Dubai's real estate market represents the UAE's economic resilience and global appeal.
Dubai's reputation as a global real estate hotspot continues to shine, and off-plan properties are now at the heart of its thriving market. With high returns, flexible payment plans, and luxurious developments, off-plan projects in Dubai represent an exciting opportunity for investors around the globe.
'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,' said Louis Harding, Chief Executive Officer of Betterhomes.
For more information, visit https://www.bhomes.com/en
In a market where so many real estate agencies promise the world but fail to deliver, Betterhomes stands apart. As one of Dubai's oldest and most prominent full-service real estate brokerages, each of Betterhomes' agents is a community specialist committed to delivering an authentic, quality-driven, client-first service.
According to Harding, what sets off-plan properties apart are their lower initial prices against completed units, flexible payment plans, and potential for high returns on investment (ROI). Dubai's off-plan market offers a variety of property types to suit different preferences and investment needs.
Located in high-demand areas like Downtown Dubai and Marina, off-plan apartments cater to professionals and families, with units ranging from studio units to penthouses for sale with breathtaking views and luxury finishings. Alternatively, buyers seeking space and privacy can opt for off-plan villas for sale in developments like Dubai Hills Estate and Arabian Ranches, which offer sprawling layouts, private gardens, and community facilities.
For families or investors looking for mid-size properties, buying off-plan townhouses is becoming increasingly popular in areas like Jumeirah Village Circle (JVC) and Dubai South. As an option, they could consider off-plan properties in mixed-use communities such as Dubai Creek Harbour and Business Bay, combining residential, retail, and office spaces.
Dubai's impressive YoY growth performance underscores investor confidence and robust demand for highly desirable off-plan properties, featuring cutting-edge designs, eco-friendly technologies, and resort-style amenities.
Working with homeowners and landlords in Dubai and Abu Dhabi for almost 40 years, Betterhomes has grown in tandem with the real estate sector, selling over 30,000 homes and building a network of satisfied clients. It's why property owners choose Betterhomes to sell or rent their properties time and time again.
About the Company:
Established in 1986, Betterhomes is one of Dubai's oldest and most prominent full-service real estate brokerages. Starting as a small operation from a dining room, the company has grown into a regional leader with over 250 agents and offices across Dubai, Abu Dhabi, Sharjah, and Motor City. Recognized for its comprehensive services, Betterhomes specializes in residential and commercial property sales, leasing, property management, mortgage advisory, and luxury real estate through its subsidiary PRIME by Betterhomes.
Media Contact
Company Name: Betterhomes
Contact Person: Elsa Angelo
Email: Send Email
Phone: +971600522233
Address: 42nd floor, Vision Tower, Business Bay
City: Dubai
Country: United Arab Emirates
Website: https://www.bhomes.com/en
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