Dubai’s real estate market continues to thrive, driven by rising prices, increased demand, and evolving preferences among buyers and renters.  Dubai’s rapid urban growth, investor-friendly policies, and tax-free environment are reinforcing its position as a leading investment destination.

Haider Ali Khan, CEO of Dubizzle Group MENA, commented on the city’s exceptional growth: “Dubai’s property market is expanding at an unmatched pace, with each quarter showing stronger results. This growth is fueled by investor-friendly policies, improved transparency in financial transactions, and a growing off-plan sector."

Government initiatives like the golden visas and residency programs have further boosted demand, making Dubai an attractive option for both luxury and affordable property seekers across prime neighborhoods.

Real Estate Market Performance in Q4 2024

Sales transaction volume expected to grow up to 30% by the end of 2024, reinforcing the ongoing market momentum.

Top Areas for Luxury Properties

Dubai Hills Estate remains the top choice for luxury villa buyers, with an average sale price of AED 17.16 million. In terms of rental properties, Al Barsha has seen strong demand for luxury villas, with average annual rents reaching AED 428,000.

Business Bay stands out as the leading location for luxury apartments, with an average sales price of AED 2.18 million and annual rents around AED 117,000. The highest returns on investment (ROI) for luxury villas were recorded in Mohammed Bin Rashid City at 5.56%, while Dubai Creek Harbour led the luxury apartment segment with an ROI of 6.20%.

Top Areas for Affordable Properties

For those seeking affordable villas, DAMAC Hills 2 (Akoya by DAMAC) is the most popular choice, with an average asking price of AED 1.91 million and an annual rent of AED 117,000.

Jumeirah Village Circle (JVC) continues to be a top pick for affordable apartment buyers, with an average sales price of AED 1.16 million and competitive annual rents of AED 78,000.

Dubai Investment Park (DIP) also stands out, offering a solid ROI of 11.18% for affordable apartments, while JVC villas have yielded an impressive ROI of 8.35%, making the area a hotspot for investors.

Off-Plan Properties Gaining Traction

Off-plan properties continue to attract investors in Q4 2024, with notable areas for off-plan apartments including JVC District 10, Dubai Investment Park’s Verdana Residence, 48 Parkside, and Peninsula. For off-plan villas, top locations include Violet in DAMAC Hills 2, Verdana 2 in Dubai Investment Park, and the Residential District in Dubai South.

Dubai’s real estate market continues to demonstrate remarkable resilience and growth, driven by a combination of strong demand, investor-friendly policies, and strategic infrastructure developments. With both luxury and affordable property sectors thriving, the city remains a prime destination for real estate investment. As Dubai’s urban expansion accelerates and government initiatives such as residency programs further enhance its appeal, the market’s upward trajectory shows no signs of slowing down. Whether you’re looking for high-end villas, affordable apartments, or lucrative off-plan opportunities, Dubai’s real estate landscape offers a wealth of options for both buyers and investors.