Dubai’s real estate market experienced remarkable activity in 2024, with total transactions surpassing $100 billion. Home sales played a significant role in this surge, accounting for more than half of the total turnover.
Key Highlights:
- Record Year: Dubai’s real estate transactions reached approximately AED 432 billion ($118 billion) in the first ten months of 2024.
- Home Sales Dominance: Over 50% of the total transactions were driven by home sales, according to data from Dubai’s Land Department.
- Breakdown of Sales: Sales of apartments, villas, and hotel rooms totaled around AED 277 billion ($75.5 billion).
- Apartment Sales Lead: Apartment sales accounted for the majority, totaling approximately AED 222 billion ($60.5 billion), followed by villa sales at AED 48.3 billion ($13.1 billion) and hotel apartment sales at AED 6.7 billion ($1.8 billion).
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