Resale properties in Dubai continue to attract investors and clock record-breaking sales.
Dubai’s real estate market continued its meteoric rise in 2024, with the resale segment alone reaching an impressive $42.5 billion in transactions. The year also saw record-breaking sales, including a $75 million apartment and a $65.5 million villa, cementing Dubai’s reputation as a real estate investment hub for the ultra-wealthy.
The surge in resale transactions is part of a broader trend in Dubai’s property market, which saw a 36% increase in sales volumes and a 27% rise in value compared to 2023.
Significant factors that have made property ownership increasingly attractive, driving demand across all segments, are —
- high rental yields
- accessible financing options
- residency visa incentives
The priciest apartment sold in 2024 was a $75 million penthouse in the iconic Burj Khalifa. The most expensive villa, sold for $65.5 million, was in the exclusive Palm Jumeirah, featuring private beachfront access and state-of-the-art interiors. Townhouses also saw significant demand, with top-tier properties fetching record prices in areas like Dubai Hills Estate and Jumeirah Golf Estates.
Sales in the resale property market rose 21% (AED 188.1 bn), with transaction volumes up 14% to 61,100 compared to 2023. The average price per square foot increased by 12% (AED 1,300), reflecting high rental yields and demand for ready properties.
Business Bay topped the resale market with 5,142 transactions worth AED 9.8 bn, while Dubai Marina led in value, with 4,924 transactions worth AED 15.2 bn.
The table below shows the top 10 performing areas in the resale property market.
| Business Bay | 5,142 transactions worth AED 9.8 bn |
| Dubai Marina | 4,924 transactions worth AED 15.2 bn |
| Al Barsha South 4 | 4,635 transactions worth AED 7.0 bn |
| Al Thanyah 5 | 3,305 transactions worth AED 8.1 bn |
| Al Merkadh | 3,155 transactions worth AED 8.3 bn |
| Downtown Dubai | 3,122 transactions worth AED 12.7 bn |
| Jabal Ali 1 | 2,364 transactions worth AED 5.0 bn |
| Al Warsan 1 | 2,126 transactions worth AED 1.2 bn |
| Wadi Al Safa 5 | 2,125 transactions worth AED 5.9 bn |
| Hadaeq Sheikh Mohammed Bin Rashid | 2,106 transactions worth AED 9.8 bn |
Apartments ensued the bulk of sales, with transactions rising 42% YoY to 141,168 units worth AED 260.6 bn. Villas followed with 30,938 transactions worth AED 164.1 bn, a 21.1% YoY increase.
Commercial property and land plots saw 4,304 commercial units sold for AED 9.7 bn and 4,352 plots fetching AED 86.5 bn.
Market Drivers & Trends
Dubai’s realty boom is fueled by several factors like —
- the emirate’s strategic location
- tax-free environment
- top-notch infrastructure attracting high-net-worth individuals and investors
- the government’s proactive policies, like long-term residency visas for property buyers
Off-plan sales also contributed to a total transaction value of $142.3 billion across all property types in 2024. However, the resale property market’s growth underscores the increasing value of ready-to-move-in properties, especially in prime locations.
Analysts predict sustainable demand for luxury properties driven by global buyers and a robust local economy. New developments and sustained investor interest show the emirate’s continued attraction to local and global investors.
