Dubai’s re-sale property market is witnessing a revival in demand and investment options.
In 2024, Dubai’s re-sale property market reached a landmark milestone, generating a record $16.33 billion in profits for investors.
According to the Dubai Land Department, the emirate’s total value of real estate transactions soared to $142.3 billion; re-sale properties accounted for a significant share of this total. This figure marks a 25% increase from the previous year.
The re-sale segment is now a top draw for local and transnational investors, attracted by high ROI, lucrative capital appreciation, and the city’s opulent lifestyle. Approximately 30% of all property transactions last year included re-sales, emphasizing the growing interest in such assets. Properties fetched record prices in areas like Dubai Marina, Palm Jumeirah, and Downtown Dubai.
Government initiatives and reforms significantly helped revive the re-sale property market. Some noteworthy factors generating a higher demand for residential properties include —
- introducing long-term residency visas for investors
- beneficial regulations
- a rise in the expat population
The luxury property segment stood out, with ultra-high-net-worth individuals driving significant investments in premium real estate. Bidding wars for residential properties listed in the high-end bracket set new benchmarks. The average price per square foot for luxury apartments rose nearly 15% in 2024.
The ongoing development of infrastructure, Dubai’s strategic location, the city’s tag of the world’s cleanest city (fifth year in a row), and its ever-increasing popularity as a global business hub continue to draw investors and sustain interest in the property market.
