Dubai’s real estate market sets record with 180,900 transactions in 2024
Date
1/4/2025 10:09:03 AM
(MENAFN)
Dubai’s Real estate market achieved a historic milestone in 2024, reaching a record 180,900 transactions valued at AED 522.1 billion (USD142 million), according to a report by fäm Properties.
This marks a significant 36 percent rise in transaction volume and a 27 percent increase in value compared to 2023, which saw 133,100 transactions worth AED 411.1 billion.
In the primary market, sales of new properties from developers surged by 30 percent year-on-year, totaling AED 334.1 billion. This reflects strong demand for new developments and off-plan properties.
The transaction volume in the primary market rose by 51 percent to 119,800, driven by growing buyer confidence, increased developer activity, and new project launches. Favorable payment plans and residency incentives for foreign investors further fueled this growth.
Meanwhile, the secondary market showed robust performance with a 21 percent increase in re-sales, totaling AED 188.1 billion. Transaction volume in this segment also rose by 14 percent to 61,100, while the average price per square foot increased by 12 percent to AED 1,300.
MENAFN04012025000045016755ID1109054596
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.