Dubai's real estate market is set to achieve a remarkable 30% year-on-year growth in 2024, with over 151,000 sales transactions recorded to date—surpassing 2023's year-end figures by 13.4%. October alone saw a record-breaking 20,460 transactions, fueled by robust investor confidence and increased mortgage activity.
Property prices hit a new high of AED 1,473 per square foot, reflecting a 1.73% growth in October and a 19.4% increase compared to the previous peak in 2014. A notable 99,000 residential units have been launched across 343 projects in 2024, showcasing a broader range of offerings beyond the luxury segment.
Despite a potential gradual slowdown in transaction volumes, analysts predict sustained market health well into 2025, aligning with Dubai's long-term strategy to elevate its real estate market value to AED 1 trillion by 2033.