High Demand Maintains Dubai Real Estate Market

Dubai's real estate market has continued to demonstrate resilience and strength, driven by sustained demand and the effects of inflation. The market remains vibrant and attractive to a diverse range of property investors, with the emirate's established reputation as a premier global destination.

The report highlights Q1 data, showcasing clear growth over the past three years. The number of sales transactions in Q1 2024 (65,450) was double the number in Q1 2023 (32,725) and triple the number in Q1 2022 (21,817). The value of sales transactions in Q1 2024 was AED 186 billion, a 24% increase on Q1 2023 (AED 150 billion) and a 107% increase on Q1 2022 (AED 90 billion). This significant increase indicates a robust and growing market.

The report suggests that the market for rental properties, ready-to-buy, and off-plan properties appears healthy. While the extraordinary capital gains witnessed over the past two years may not persist, steady and healthy growth is anticipated. Additionally, properties in Dubai constructed at lower costs in the past are likely to appreciate, as the cost of building new properties continues to rise due to inflationary pressures on construction materials, logistics, and other expenses.