H2 2024: Dubai’s Property Market Soars to New Heights
The second half of 2024 has been a period of exceptional growth for Dubai’s real estate sector, reinforcing its position as a global investment hotspot. With record-breaking transaction volumes and increasing property values, H2 2024 has cemented Dubai’s reputation as a thriving market for residents and investors alike.
Unprecedented Transaction Activity
H2 2024 closed with 93,922 residential property transactions, amounting to AED 232 billion. This represents a remarkable 48% increase compared to the same period in 2023 and a 26% rise from H1 2024. Off-plan property sales led the market, comprising 65% of all transactions during this period—a clear indication of investor confidence in Dubai’s future growth and development pipeline. Developers reported record sales of off-plan property in Dubai, appealing to both local and international investors.
Rising Property Values Across Communities
The second half of the year witnessed significant increases in property prices:
- Villas and Townhouses: Average selling prices rose in 19 of the 20 communities analysed, with an overall increase of 19%.
- Apartments: Prices climbed in 10 of 11 tracked communities, showing an average rise of 13%.
Communities such as Palm Jumeirah and Dubai Hills recorded particularly strong growth, underscoring sustained demand in these premium locations.
Rental Market Shifts Toward Homeownership
Rental transactions declined during H2 2024, while rental prices continued to rise, reflecting a growing shift toward homeownership among tenants. With mortgage options becoming increasingly competitive, more residents are opting to invest in property rather than renting.
European Buyers Lead the Charge
Western European buyers dominated the international segment of Dubai’s property market in H2 2024, securing five of the top six positions among buyer nationalities. The continued appeal of Dubai’s world-class lifestyle, safety, and investment returns has made the city a favored destination for high-net-worth individuals and expatriates from across the globe.High-net-worth individuals are increasingly investing in premium villas and apartments in Dubai.
Population Growth Fuels Demand
Dubai’s population growth remains a driving force behind its robust property market. Over the past three years, the population has increased by 10%, with projections indicating further growth. Developers have responded with an ambitious supply pipeline, but supply remains constrained, particularly for villas and townhouses, contributing to sustained price pressures.
Market Outlook for 2025
The outlook for Dubai’s real estate market remains bright. Continued population growth, global investor interest, and high absorption rates for new projects are expected to fuel further market expansion in 2025.
H2 2024 was a defining period for Dubai’s real estate market, characterised by record-breaking transactions, rising property values, and evolving buyer preferences. With strong fundamentals and global appeal, Dubai’s property market continues to stand out as a premier investment destination.
Investors and residents alike benefit from the city's strategic location, modern infrastructure, and forward-thinking policies. For those considering entering the market, now is an excellent time to explore opportunities and leverage expert advice.
With extensive experience in the property market, Exclusive Links, Dubai's leading real estate brokers, possesses unmatched knowledge of the local real estate landscape, assisting clients from the initial stages of buying property in Dubai to optimising returns on their investments.

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