Off-Plan Sales Dominate Dubai Real Estate in Q4 2024, Driving Record Growth
Monday, 27 January 2025
Dubai real estate market recorded impressive growth in Q4 2024, with off-plan transactions contributing over 50% of the total AED116.5 billion in sales. The sector reflects Dubai’s appeal as a global hub for luxury and innovation.
- Impressive Market Growth:
- Q4 2024 total sales value: AED116.5 billion (31.1% YoY growth).
- Transaction volume: 46,844 deals (51.8% YoY increase).
- Off-Plan Sales Lead Growth:
- AED61.69 billion in off-plan sales (53% of Q4 transactions).
- High demand in luxury areas like Palm Jumeirah and Dubai Hills Estate.
- Affordable hubs like Dubai South and Jumeirah Village Circle attract mid-income buyers.
- 2024 Real Estate Overview:
- Total annual transaction value: AED423.3 billion (42.4% YoY growth).
- Off-plan sales accounted for 63.4% of transactions.
- Top Areas for Property Investment:
- Business Bay: High demand for mixed-use developments.
- Dubai Marina: Strong rental yields and luxury waterfront living.
- Palm Jumeirah: Dominates ultra-luxury market.
- Downtown Dubai: Increased demand for premium apartments.
- Dubai South: Strategic investments and affordable housing.
- Jumeirah Village Circle (JVC): Family-friendly and affordable.
- Dubai Land: Focus on value-driven townhouse and villa communities.
- Luxury Market Highlights:
- Palm Jumeirah: AED4,600 per sq. ft. for premium properties.
- Attracts global high-net-worth individuals seeking lifestyle, security, and long-term value.
- Population Growth and Future Demand:
- Dubai’s population projected to surpass 4 million by 2025 and reach 7.8 million by 2040.
- Growth aligned with the Dubai 2040 Urban Master Plan, ensuring sustainable real estate development.
Dubai remains a leader in luxury and innovative real estate, driving global interest and delivering long-term value for investors and end-users alike.
