Sales in the Dubai property market will increase in 2024/2025

  • 13.11.2024
  • News

During the first half of the year, there were more than 43,000 transactions valued at $33.5 billion, up 30% from the previous year.
- This growth is partly due to the rapid absorption of new units: 80% of units released since 2022 have already been sold.
“The luxury segment remains strong, with the prestigious Palm Jumeirah and Downtown Dubai areas continuing to attract high-net-worth buyers.
- There is growing interest in the mid- and affordable segments, especially in areas with promising rental yields (Dubai Silicon Oasis and Jumeirah Village Circle).

Based on this, it is predicted:
- Sustained growth in the real estate market due to high demand, a significant influx of new properties and the integration of advanced technologies.
- Increasing investment support from both local and international investors, indicating the strategic importance of the market.
- A significant increase in real estate supply: in 2025 - about 41,000 units, in 2026 - 42,000 units, which is 80% more than the projected supply in 2024 of 27,000 units.
It is worth noting that with such an increase in supply, there are certain risks of redundancy, which may lead to price stabilization or a slight decrease in certain segments.

However, many players in the property market (including yours truly) agree that market strength, supported by high investor confidence, strategic urban planning and government policies to increase the emirate's population, will allow the bulk of the new supply to be absorbed.
- The introduction of AI and digital platforms is changing the approach to selling real estate.

- New tools (virtual tours, 3D floor plans and AI-powered analytics) are becoming standard, increasing transparency in the buying process.

- The growth of PropTech solutions is expected to continue in 2024 and beyond, as these technologies will play a critical role in how developers and investors interact with the market.

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