Dubai’s real estate domain continues to see an upward curve, with newer off-plan properties in both the primary and secondary markets.
A few decades back, the Dubai real estate market wore the crown of the ‘Unregulated Wild West.’ Today, government initiatives, meticulous planning, and a competitive market have made Dubai a much sought-after destination where not only domestic but also international players want a share of the real estate market in this buzzing city. This year promises a significant growth and expansion of Dubai’s primary and secondary property market, with property prices projected to rise 5-8% on average. Luxury homes in prime locations will potentially see higher demand.
The YoY and QoQ growth in the realty sector has been buoyed by several notable factors, such as-
- Increased expatriate residency
- Population growth
- Regulatory enhancements and visa reforms
- Substantial foreign investments
- Technological advancements
- Strategic government initiatives
- Sustained investor interest
The year 2024 saw the Dubai real estate market grab headlines and achieve noteworthy milestones like clocking 180,900 transactions totaling AED 522.1 billion ($142.2 billion). This shows a substantial increase (36%) in transaction volume and value (27%) compared to 2023. The primary realty market, comprising new projects and off-plan properties, was a significant contributor, as first-time sales from developers saw steady growth and peaked at AED 334.1 billion ($91 billion). This translates to a 30% YoY increase.
The Dubai real estate market is set to achieve newer and bigger milestones. The government D33 economic plan will boost real estate transactions by a projected 70% and enhance property portfolio values. Additionally, the Dubai Real Estate Sector Strategy 2033 roadmap, sustainability, and technological innovations will shape the market. Eco-friendly architectural designs and affordable as well as luxurious ‘smart homes’ will spur demand and add considerable value to residential and commercial properties in Dubai in the coming years.
So, what’s in the offing for Dubai’s buzzing real estate market in 2025? Should you invest and grab a share of the real estate pie?
The answer is a resounding Yes, as the realty market will see rapid growth, complemented by the following –
- infrastructure-led development
- robust demand across sectors
- strategic government reforms and initiatives
Bolstered by a dynamic economy and investor-friendly policies and regulations, Dubai remains a well-sought-after destination for real estate investment for both local and global investors.
