According to the latest report by Savills Middle East, Dubai’s real estate sector recorded significant transaction volumes, reflecting the emirate’s growing appeal to high-net-worth individuals and global investors.
This sustained demand led to significant capital value appreciation across most submarkets. Developers actively launched new projects throughout the emirate to cater to both end users and investors.
“In 2024, Dubai’s real estate market experienced a remarkable year, showcasing strong investor confidence and an increasing appeal to high-net-worth individuals.
“The residential sector recorded unprecedented transaction volumes, with a 47% year-on-year increase.”
2024 Dubai real estate report, Savills
Luxury housing saw a remarkable rise, with over 4,600 units priced above AED 10m transacted in 2024, a 23% year-on-year increase. The villa segment outperformed apartments, with luxury villa transactions increasing by 33%, compared to a 5% rise in the apartment segment.
Premium areas like Palm Jumeirah, La Mer, and Jumeirah Bay Island commanded the highest prices per sq ft, reflecting their enduring appeal to high-net-worth buyers.
“As we look ahead to 2025, Dubai’s real estate market is poised for continued growth and resilience.
“The trends observed in 2024, such as strong investor confidence, increasing demand for off-plan properties, and rising interest in luxury housing, are expected to persist.”
2024 Dubai real estate report, Savills
Apartments dominated the market, contributing to 82% of all transactions. Off-plan apartment sales accounted for 68% of these, up from 58% in 2023.
Notable launches included City Walk Northline by Meraas, Ocean Cove by Emaar, and Ghaf Woods by Majid Al Futtaim.
The per sq ft rates for apartments and villas increased by 3% and 8%, respectively, across Dubai. Projects in key locations such as Palm Jumeirah commanded a premium
over the average capital value growth, reaching up to 15%.
“Dubai’s residential market continues to grow from strength to strength, driven by a steady stream of international investors, end-users, and a strong pipeline of high-quality projects.
“The emirate has cemented its reputation as a global hub for luxury living and investment opportunities, catering to a wide spectrum of buyer profiles.
“Over the past year, we’ve achieved significant milestones, including landmark sales in Tilal Al Ghaf and Palm Jumeirah, as well as major land deals.
“Our expanding team of experienced brokers continues to deliver exceptional results, reinforcing Dubai’s position on the global real estate stage.”
Andrew Cummings, Head of Residential Agency, Savills Middle East
According to the Savills World Cities Prime Residential Index, which tracks property prices across 30 global cities, Dubai ranked in the top five with a growth of 2.9% in the first six months of the year.
Developers are likely to continue delivering high-quality projects, offering unique opportunities for investors and end-users to capitalise on Dubai’s growth and development.
Overall, 2025 promises to be another dynamic year for Dubai’s residential real estate market, with opportunities for both end-users and investors to capitalise on the city’s growth and development.
