Dubizzle data found that Dubai’s property market surpassed AED 500bn in transactions between November 2023 and November 2024.
Dubai Marina, Downtown Dubai, and Palm Jumeirah have solidified their position as the top three leading areas for buying luxury apartments in Dubai for 2024.
The increase in their appeal has been attributed to their proximity to prominent landmarks and attractions.
Dubai Marina has stood out as the preferred choice for buying and renting luxury apartments. The average sales price in this high-demand area has reached Dh 2.55m, while annual rent has been recorded at Dh 145,000.
Boasting an average sales price of Dh 16.07m, Dubai Hills Estate has maintained its position as the top area for luxury villas.
On the other hand, Al Barsha has become the top choice among tenants where the average rent has stood at Dh 436,000.
Al Barari has recorded the highest return on investment (ROI) for luxury villas at 7.39%. Meanwhile, Green Community has topped the luxury apartment segment with a notable ROI of 8.48% for 2024.
Jumeirah Village Circle (JVC) secured the position as the top area for buying and renting mid-tier apartments, with an average sales price of Dh 1.12m and annual rent of Dh 78,000.
“Dubai’s real estate market has truly outdone itself, hitting new heights in 2024, with over Dh500 billion in business between November 2023 and November 2024. It’s clear that this dramatic growth is driven by the government’s proactive initiatives including the revised property visa offerings and expansion of freehold areas. Considering the robust economic progress of Dubai and the announcement of major infrastructure projects like the Dubai Metro Blue Line and Al Maktoum Airport, this momentum is unlikely to slow down any time soon.
“The demand for properties is at an all time high with the off-plan sector in particular showing unprecedented interest. As the UAE’s leading real estate platform, at dubizzle, we remain committed to supporting this growth by offering comprehensive listings of off-plan developments ‘including ‘Verified Properties’’ across all segments—affordable, mid-tier and luxury. At dubizzle, we’re proud to fuel this growth while empowering everyone to make informed decisions.”
Haider Ali Khan, CEO, Dubizzle
