Dubai Real Estate Hits AED 120 Billion in Q3 2024 – Here’s What You Need to Know
Dubai’s real estate market continues to break records. In Q3 2024, the city saw over AED 120 billion ($32.7 billion) in property sales from more than 48,000 transactions—a clear sign of strong demand and growing investor confidence.
Whether you’re a first-time buyer or seasoned investor, here’s a breakdown of the latest trends and opportunities from Bayut’s Q3 2024 Market Report.
Market Highlights
- Total Sales: AED 120B ($32.7B)
- Off-Plan Properties: 32,000+ transactions worth AED 70B ($19.1B)
- Ready Properties: 16,000+ transactions worth AED 51B ($13.9B)
Dubai remains a global hotspot for real estate, attracting buyers from around the world with its strong returns, modern infrastructure, and tax-friendly environment.
Top Areas for Capital Growth
Luxury Properties:
- Dubai Hills Estate: Price increases between 3% and 31%
- Palm Jumeirah: Continues to attract HNWIs
- Downtown Dubai: A long-standing favorite for luxury investors
Mid-Range Properties:
- Arabian Ranches: Villa prices up by 13%
- JVC (Jumeirah Village Circle): Increasing demand and steady growth
- Al Furjan: Rising popularity in the mid-market segment
Affordable Properties:
- Dubailand: Villa prices jumped nearly 20%
- Dubai South: Gaining ground among budget-conscious buyers
- DAMAC Hills 2: Strong growth in this emerging area
Top Areas for Rental Yields
Apartments:
- Dubai Investments Park (DIP): 9% to 11% returns
- Discovery Gardens & Liwan: Great returns in the affordable segment
- Dubai Sports City: Yields over 8.6%
- Silicon Oasis & Al Sufouh: Strong mid to high-end returns
- DAMAC Hills: Top performer in the luxury apartment category
Villas:
- DAMAC Hills 2 & International City: High returns for budget-friendly villas
- Serena & JVC: Mid-range villas offering 6% to 9% ROI
- Dubai Sports City & Al Barari: Solid returns in the mid to luxury segments
- Tilal Al Ghaf: One of the highest-yielding luxury villa markets
Key Takeaways for Investors
The market remains dynamic, so doing your research and understanding the area before investing is essential.mmunities and up-and-coming areas.
Off-plan properties are booming and offer entry at lower prices.
Rental yields remain strong in both apartments and villas, especially in mid and affordable segments.
Capital appreciation is evident in luxury communities and up-and-coming areas.
Who am I?
I’m a serial entrepreneur with 28 years of experience across 18 industries, combining technology and human behaviour. Since 1997, I’ve been leading the telecom and digital media space, helping major companies like P&G, L’Oréal, Mazda Motors, and others – 150 brands – enter the digital world and generate millions in revenue while building strong customer relationships.
For over 13 years, I’ve had the pleasure of doing business and investing in the GCC, where I’ve grown to love the culture and the people.
If you’re looking for unbiased guidance on navigating the real estate markets in the GCC, feel free to reach out!
WhatsApp Now: https://wa.me/447542564750
