There is a positive outlook for Dubai’s real estate sector for the 2024/2025 business season. Analysts at Elite Merit Real Estate also project sustained growth in the overall UAE real estate market.
Strong sales figures, increasing property values, and the rapid absorption of new inventory are expected to drive continued expansion of the sector. This growth is expected to be supported by both domestic and international investors.
In July 2024, property sales reached an impressive AED 49.6bn, which is a 31.63% increase compared to the same period in 2023.
H1 2024 alone saw over 43,000 property transactions valued at approximately AED 122.9bn, marking a 30% increase from the previous year.
Elite Merit Real Estate highlight that upcoming seasons will witness a substantial increase in property supply, with approximately 41,000 units expected in 2025 and 42,000 in 2026.
The market’s resilience is bolstered by strong investor confidence and strategic urban planning, which is expected to absorb the new stock coming onto the market.
The luxury segment remains robust, with prime areas such as Palm Jumeirah and Downtown Dubai continuing to attract high-net-worth individuals.
However, Elite Merit Real Estate emphasises that there are challenges facing the market. These include potential oversupply and associated downward pressure on rental prices.
It comes as there is a growing demand for larger homes in Dubai, with data indicating that more families are moving or plan to move to the Emirate.
Elite Merit Real Estate collaborates with top-tier developers to bring forward real estate opportunities in Dubai.
The company’s goal is to lead by example and to revitalise the real estate experience through innovation, transparency and trust, driven by a people-first approach and a culture of continuous improvement.
“Our goal is to lead by example in the real estate sector, setting new benchmarks for ethical practices and professionalism.
“We aim to transform market dynamics and establish new industry standards.”
Elkhan Salikhov, CEO, Elite Merit
