Dubai’s Real Estate Transactions Exceed $100 Billion in First 10 Months of 2024

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At One Investments, we stay ahead of the curve, which is why, wherever you may reside, we recommend Dubai for property investment. With 2024 about to end, Dubai’s real estate sector once again proved its value to investors globally, setting new records in both transaction volumes and sales values.

 

According to Dubai’s Land Department, total real estate transactions reached approximately 432 billion UAE dirhams ($118 billion) in the first 10 months. Transactions involving the sale of apartments, villas, and hotel apartments amounted to nearly AED277 billion ($75.5 billion).


Surging Sales and Key Drivers

 

Dubai’s real estate sector, long recognized for its appeal, has reached new heights in 2024, with residential sales accounting for more than half of the total turnover. Apartments led this surge, with sales totaling AED222 billion ($60.5 billion), followed by villas at AED48.3 billion ($13.1 billion), and hotel apartments at AED6.7 billion ($1.8 billion). 

 

These figures reflect a heightened interest from both local and international investors, drawn by Dubai’s favorable tax policies, strategic location, and robust infrastructure.


Robust Growth in Top-Selling Areas

 

Dubai’s real estate market continues to attract attention in sought-after areas such as Dubai Hills Estate and the Palm. These neighborhoods present lucrative investment opportunities in apartments and villas, making them prime locations for property investors seeking strong, long-term returns.


Dubai’s Thriving Rental Market

 

Dubai’s rental market has witnessed median apartment rents rise to AED 68,000, marking a 19.3% increase year-on-year. This heightened demand has been largely driven by expatriates and new residents. Rental properties in prime locations offer investors strong and stable returns, further enhancing Dubai’s appeal as a leading global investment hub.

 

Dubai’s real estate market shows no signs of slowing, with continued growth anticipated through Q4 2024. For investors seeking high-yield properties, One Investments provides access to one of the most dynamic real estate sectors, combining rising property values, stable rental yields, and strong demand.

TOP NEWS

The Rise of Generations Z in Dubai Real Estate Market
The Rise of Generations Z in Dubai Real Estate Market
Dubai Off-Plan Property Sales Rise by More than 50% as Demand Exceeds Supply
Dubai Off-Plan Property Sales Rise by More than 50% as Demand Exceeds Supply

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