Dubai’s real estate industry is seeing sustained growth due to its central location and the government’s initiative to encourage foreign investors. The boom in demand has increased competition among developers, leading them to provide magnetic payment prospects and extras to attract buyers. The increase in activity keeps going, with a remarkable 37,154 transactions recorded in the first quarter alone, worth AED 109.85 billion.

Government initiatives like golden visas and residency programs have further boosted demand, making Dubai an attractive option for both luxury and affordable property seekers across prime neighbourhoods.

Real Estate Market Performance in Q4 2024

The Dubai real estate market,  transforms and progresses were witnessed and as a result, the sales volume had increased by nearly 30% toward the year’s end.

Top Areas for Luxury Properties

Dubai Hills Estate

• Why It’s Popular: This remains the top choice for luxury villa buyers.
• Average Sale Price: AED 17.16 million.

Al Barsha

• Why It’s Popular: Strong demand for luxury villas.
• Average Annual Rent: AED 428,000.

Business Bay

• Why It’s Popular: Leading location for luxury apartments.
• Average Sales Price: AED 2.18 million.
• Average Annual Rent: AED 117,000.

High ROI Areas

• Luxury Villas: Mohammed Bin Rashid City recorded the highest ROI at 5.56%.
• Luxury Apartments: Dubai Creek Harbour led the segment with an ROI of 6.20%.

Top Areas for Affordable Properties

DAMAC Hills 2 (Akoya by DAMAC)

• Why It’s Popular: Most popular choice for affordable villas.
• Average Sale Price: AED 1.91 million.
• Average Annual Rent: AED 117,000.

Jumeirah Village Circle (JVC)

• Why It’s Popular: Top pick for affordable apartments.
• Average Sales Price: AED 1.16 million.
• Average Annual Rent: AED 78,000.

Dubai Investment Park (DIP)

• Why It’s Popular: A standout for solid ROI.
• ROI for Affordable Apartments:18%.
• ROI for Villas in JVC:35%, making the area a hotspot for investors.

Off-Plan Properties Gaining Traction

Off-plan properties continue to attract investors in Q4 2024. Notable areas for off-plan apartments include:

• JVC District 10
• Dubai Investment Park’s Verdana Residence
• 48 Parkside
• Peninsula

For off-plan villas, top locations include:

• Violet in DAMAC Hills 2
• Verdana 2 in Dubai Investment Park
• The Residential District in Dubai South

Conclusion:

Dubai’s real estate industry has shown exceptional resilience and development, especially due to robust demand, investor-friendly policies, and notable infrastructural investments. With both luxury and cheap property sectors thriving the city remains a popular choice for real estate investors. As Dubai’s urban expansion continues and regulations like residency programs add to its attraction, the market’s upward trend shows no signs of slowing. Whether you’re seeking luxury villas, budget-friendly apartments, or attractive off-plan prospects, Dubai’s real estate market has multiple to offer both buyers and investors.