Home sales for residential property sales rose 25.3% to over $155.73 billion (US$42.5 billion), according to a new report from Metropolitan Premium Properties.
Despite global economic uncertainty, Dubais’ resistant real estate market remains attractive to domestic and international investors.
Svetlana Vasilieva, Head of Secondary Sales at Metropolitan Premium Properties, said: “Dubai’s real estate market has once again outperformed expectations and 2024 was no exception. The data clearly shows a dynamic and evolving market with strong demand for ready-to-move-in properties.
“This shift towards secondary sales reflects the increasing preference for immediate occupancy and the desire to capitalize on the current market conditions.”
Dubai real estate sales
Key findings of the report include:
- Total Trading Volume: The market recorded 58,328 RE sale transactions in 2024. This represents a 19.3% increase compared to 2023.
- Total Sales: Total of all sales transactions in residential areas reached AED 15572.9 billion ($42.5 billion), an increase of 25.3% compared to the previous year.
- Average price growth: Average resale price per square foot has risen by almost 8%, increasing to 1,548 AED ($421) for all real estate types, reflecting strong demand and limited offers
- Demand for ready properties: Secondary sales accounted for 83% of all transactions and 82% of all transactions, depending on the value in 2024. Increase and encourage more residents to move to buy their own homes
- Apartments continue to lead: apartments accounted for 77.69% of all sales transactions, townhouses made 14.67% and villas made 7.62%
The most expensive transactions from 2024 were also recorded, with the luxurious six-bedroom villa on Jumeirah Bay Island setting a record for AED 240.5m (US$65.5m).
One of Palm Jumeirah’s five bedroom apartments is AED 275m ($75 million), five bedroom apartments at Bvlgari Lighthouse, 137m ($37.3 million), five bedrooms at Crescent There is an apartment, Six Senses The Palm for AED130m ($35.4m).
Dubai’s most expensive townhouses are AED 72 million ($19.6 million) at UMM Suqeim 2, another 15.6 million aed ($9.7 million) and five bedroom townhouses in Tiral Algaf ($34 million) ($$ ) 9.3 million).
Vasilieva said: “For 2025, we project a sustained period of growth and stability in Dubai’s resale sector. Investor confidence remains high, bolstered by the city’s strong economic fundamentals and world-class infrastructure.
This, coupled with attractive financing options, will continue to fuel transaction activity.”
A report on Metropolitan Premium Properties says Dubai’s average resale price per square foot has risen by 5.3%, reaching 5.3% to 1,576 AED ($429).
A total of 45,320 apartment revenue transactions were recorded. This is due to a 22.4% increase compared to 2023. The total amount of these transactions reached $811.7 billion (US$22.1 billion), an increase of 24.1% compared to the previous year.
81% of reselling transactions were secondary sales, while off-plan reselling produced 19% of transactions. A total of 76% of the resale value (AED 6.177 billion/US$16.8 billion) was attributable to secondary sales, while 24% was associated with unplanned resale in the apartment sector.
The average average apartment rent price increased by 17.3%. There were a total of 477,424 transactions, an increase of nearly 2% compared to the previous year, with 61% renewals increasing, while the new lease consisted of 39%.
On the other hand, for villas, the average resale price per square foot of the villa has increased to almost 21%, reaching 1,937 AEDs ($530) compared to 2023.
The number of villa sales transactions in Dubai fell slightly 2.6 per cent to 4,449, but the total amount of these transactions increased 22.1% to $488.9 billion (US$13.3 billion).
The average price for villa rentals has increased by 23%. There were a total of 35,085 transactions, with over 61% expansion.
For townhouses, the average resale price per square foot rose 17.3%, reaching AED 1,212 ($330) compared to 2023.
Townhouse RE-SALE transactions increased by 17.4%, up 8, 5559, but the total value of these transactions increased by 36.6% to $25.66 billion ($7 billion). I did.
The average average price for townhouse rentals has increased by 15.8%. There were a total of 21,562 rental transactions, an increase of 2.5% compared to the previous year, resulting in an increase of $3.41 billion (US$928.4 million), reflecting a 16.5% increase.