The UAE's real estate market in 2024 exhibited remarkable growth, setting new records in transaction volumes and values, particularly in Dubai. This report delves into the key trends, driving forces, and potential challenges that shaped the market throughout the year.
Sales Surge and Price Appreciation
Dubai led the nation’s real estate sector with unprecedented performance. In the first half of 2024, the city recorded over 80,000 property transactions, totaling more than AED 232 billion. This represented a 29.4% increase compared to the same period in 2023. The momentum continued into the third quarter, with 50,425 transactions amounting to AED 141.95 billion, marking a 38% year-on-year increase in volume and a 30% rise in value. The total number of transactions across the UAE for the entire year is projected to surpass 150,000, reflecting the country’s strong economic and investment climate.
