In the first quarter of 2024, Dubai’s real estate market experienced robust growth, with over 36,000 sales transactions totaling $109.8 billion. The market saw a 17.5% increase in transactions compared to the same period last year, highlighting strong investor interest. Notably, existing properties accounted for 54% of transactions, signaling a shift in investor preference towards ready-to-move-in properties. Off-plan properties also remained popular, comprising 46% of transactions.
Investment inflows surged by 55%, with 42% of new investors coming from international markets. The potential waiver of the $272,294 minimum down payment for golden visa eligibility through real estate investment is expected to further boost investor interest. Additionally, a projected 24.6% increase in high-net-worth individuals by 2025 is set to elevate the ultra-luxury segment.
The market’s resilience and diverse appeal underscore Dubai’s position as a prime destination for investors worldwide. Farooq Syed, CEO of United Arab Amirates, Dubai, attributes Dubai’s success to strategic regulatory frameworks and infrastructure improvements. This sustained upsurge in the real estate market reflects investor confidence and market stability, showcasing the sector’s resilience.
