Dubai’s Real Estate Market Continues to Thrive in Q1 2024

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Dubai’s real estate market remains a beacon of opportunity, showcasing robust growth and attracting investors in droves. According to the latest Q1 2024 Market Report, the sector saw a staggering 17.5% increase in sales transactions compared to the same period last year, signalling sustained momentum and investor confidence.

 

With over 36,000 sales transactions recorded in the first three months of 2024, Dubai’s real estate sector is witnessing unprecedented activity, positioning itself as a prime destination for property investment. This surge in transactions underscores the resilience and attractiveness of Dubai’s real estate market, solidifying its status as a global investment hotspot.

 

A notable trend in the market is the growing preference for existing properties, which accounted for a significant 54% share of total transactions. This preference reflects investor confidence in Dubai’s established real estate offerings, with transaction values reaching AED 78.2 billion, marking a substantial 46% increase from Q1 2023.

 

Additionally, off-plan properties continue to garner investor interest, with approximately 16,600 transactions recorded in Q1 2024. Despite a slight reduction in proportion compared to the previous year, off-plan transactions saw a modest year-on-year increase of 4%, highlighting sustained demand in this segment.

 

The data, sourced from the Dubai Land Department (DLD), not only showcases a quantitative surge in transactions but also signifies a qualitative shift in investor preferences and market dynamics. The record-breaking number of transactions reflects heightened investor interest in Dubai’s diverse property offerings, further solidifying its position as a global real estate powerhouse.

 

Looking for better investment opportunities in this lucrative market? One Investments is here to help. Contact us today to explore your options and capitalise on Dubai’s thriving real estate sector.

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