Dubai’s off-plan real estate market has demonstrated remarkable growth and resilience in recent years, solidifying its position as a global investment hub. Comprehensive statistics for 2023 and 2024 provide valuable insights into the market’s trajectory heading into 2025 and beyond.
Market Performance Overview:
Transaction Volume and Value: In 2021, Dubai recorded over 84,196 real estate transactions totaling nearly AED 300 billion, marking the highest value in the city’s recorded history. This represented a 66.3% increase in transaction volume and a 72% rise in value compared to 2020. Source: Government Of Dubai
Off-Plan vs. Secondary Market: In Q2 2022, 40.32% of sales transactions were for off-plan properties, while 59.68% pertained to secondary or ready properties. This indicates a sustained investor interest in off-plan developments
Price Trends:
As per Financial Times, as of 2024, average property prices in Dubai have surged by 75% since February 2021, reaching AED 1,750 per square foot. This upward trend underscores the robust demand and appreciation in property values
Supply Dynamics:
To meet the growing demand, Dubai is constructing approximately 9,000 villas by the end of 2024, with plans for an additional 19,700 villas by 2025. Despite these efforts, a shortage of luxury properties persists, reflecting the city’s appeal among high-net-worth individuals.
Investor Demographics:
Dubai’s property market has attracted a diverse international clientele, with significant investments from European and North American buyers. The introduction of initiatives like the Golden Visa program has further bolstered long-term residency and investment appeal.
More Data & Visuals
The increasing number of real estate transactions in Dubai, reaching approximately 105,000 in 2024. The transaction value has also grown significantly, surpassing AED 400 billion, showcasing the city’s booming property market.
The dominance of off-plan sales in Dubai’s real estate market, accounting for approximately 60% of total transactions. The strong preference for off-plan properties is driven by flexible payment plans, lower entry costs, and high capital appreciation potential.
View on The Dubai Land Department
Conclusion:
The Dubai off-plan real estate market continues to exhibit dynamic growth, characterized by increasing transaction volumes, rising property values, and a strong influx of international investment. These trends highlight Dubai’s enduring appeal as a premier destination for real estate investment.