Dubai’s realty domain clocked a staggering $4.6 billion of transactions in just one week. Underscoring the emirate’s position as a prime property investment destination, Dubai continues to attract both local and international buyers.
Among the notable transactions was the sale of a luxurious Jumeirah apartment for an impressive $31.6 million, highlighting the ongoing demand for luxury properties in Dubai’s most sought-after locations. The luxury real estate market has seen a 20.5% YoY rise in sales of properties exceeding AED 10 million. Sales in the realty sector peaked at $9.5 billion in January this year. Analysts attribute this growth to a supply-demand imbalance, resulting in rising property prices and rental rates.
Driven by ongoing investments in infrastructure and mega projects, Dubai’s residential market is projected to witness moderate price growth, especially in mid-range properties; long-term rentals are estimated to rise by 13% and short-term rentals by 18%.
As Dubai continues to attract global investors with its investor-friendly policies and strategic vision for development, the realty market looks poised for sustained growth and exciting opportunities in the coming years.