Want to know how Dubai’s property market has changed since 2014? We hear it all the time. “Should I buy property in Dubai?” People ask us when they dream of owning a home or want to invest their money wisely.
Do you ever think why Dubai real estate is one of the best real estate markets in the world? And why do investors love it? Let’s keep it simple and look at the facts that matter when you’re thinking about buying.
When you crunch the numbers, you can see some areas have seen strong growth. Others have dropped. But handling too much raw takes time. That’s why we have analysed a 10-year property price trend. Waiting to know which is a good area to buy a property in Dubai?
Read on. Let’s look at each year one by one. We’ll show you how this market has changed. Is Dubai property right for you? Let’s find out.
Dubai Real Estate Market Trends
From 2014 to 2015, Dubai’s real estate prices stayed steady. However, from 2016 to 2019, prices went down due to more supply and a slow economy.
COVID-19 hurt prices in 2020, but they bounced back fast. High-end areas saw more demand. From 2021 to 2023, luxury properties and prime areas like Downtown Dubai saw big price jumps.
In 2025, more people will buy property in Dubai. This showed growing trust in the market.
Key Highlights
- Property prices grew 51.9% from 2014 to 2024, with average price per square foot rising from 1,003 AED to 1,524 AED
- Transaction volumes increased from 41,715 in 2014 to 132,628 in 2023, showing massive market expansion
- 2020 pandemic caused only a brief slowdown before record-breaking recovery in 2021-2023
- Dubai Marina consistently remained the top luxury apartment location throughout the decade
- Villa prices showed greater stability than apartments during market downturns
- Indian nationals maintained position as top foreign investors across the decade
Dubai Property Price Index
Before moving to a year-by-year analysis, let’s see Dubai’s property price evolution over more than a decade. Starting from 832 AED per square foot in 2012, prices rose to peak at 1,024 AED in 2018 before declining to 914 AED in 2020 during the pandemic. The most dramatic growth occurred from 2021 onwards, with prices reaching an all-time high of 1,524 AED per square foot in 2024.
| YEAR | PRICE PER SQFT (AED) | % CHANGE FROM 2014 | YEAR-OVER-YEAR CHANGE |
|---|---|---|---|
| 2012 | 832 | -17.0% | - |
| 2013 | 898 | -10.5% | +7.9% |
| 2014 | 1,003 | - | +11.7% |
| 2015 | 962 | -4.1% | -4.1% |
| 2016 | 950 | -5.3% | -1.2% |
| 2017 | 1,003 | 0.0% | +5.6% |
| 2018 | 1,024 | +2.1% | +2.1% |
| 2019 | 972 | -3.1% | -5.1% |
| 2020 | 914 | -8.9% | -6.0% |
| 2021 | 985 | -1.8% | +7.8% |
| 2022 | 1,196 | +19.2% | +21.4% |
| 2023 | 1,365 | +36.1% | +14.1% |
| 2024 | 1,524 | +51.9% | +11.6% |
Price Trend Analysis by Property Type
The prices in Dubai heavily vary with property type. It is important to understand the property wise price trends in Dubai. Here is the overview of this.
| Year | Apartments Price Per Sqft (AED) | Villas Price Per Sqft (AED) | Commercial Price Per Sqft (AED) | Plots Price Per Sqft (AED) |
|---|---|---|---|---|
| 2014 | 1,194.13 | 752.62 | 1,057.56 | 439.08 |
| 2015 | 1,209.51 | 855.53 | 1,071.7 | 476.73 |
| 2016 | 1,025.75 | 846.92 | 995.34 | 135 |
| 2017 | 1,220.99 | 754.99 | 950.01 | 475 |
| 2018 | 1,277.16 | 783.2 | 861.45 | 344.38 |
| 2019 | 1,152.33 | 665.62 | 654.52 | 300 |
| 2020 | 1,212.28 | 650.65 | 644.55 | 335 |
| 2021 | 1,040.8 | 745.01 | 639.34 | 475.32 |
| 2022 | 1,426.21 | 916.99 | 841.55 | 530.9 |
| 2023 | 1,412.13 | 1,109.29 | 1,003.24 | 444.57 |
| 2024 | 1,629.33 | 1,229.06 | 1,349.78 | 503.45 |
Off Plan vs Ready to Move Property Trend
When we narrow down our analysis beyond property type, we face two types of property: Offpan and ready to move properties. Looking at data, we can see that previously the Dubai real estate market is ready to move property focused. Constantly, due to DLD rules and regulations, Developers flexible payment plans and government strategies has shifted the focus on off-plan projects in Dubai. You can check this trend here.
| Year | Volume of Sales (Off-plan) | Volume of Sales (Ready) | Value of Sales (Off-plan) in B | Value of Sales (Ready) in B | Price per Sqft (Off-plan) | Price per Sqft (Ready) |
|---|---|---|---|---|---|---|
| 2014 | 18,342 | 33,720 | 33B | 59B | 1,197 | 956 |
| 2015 | 20,762 | 27,440 | 41B | 51B | 1,032 | 946 |
| 2016 | 19,063 | 17,946 | 31B | 29B | 1,036 | 941 |
| 2017 | 26,381 | 19,946 | 41B | 31B | 1,091 | 963 |
| 2018 | 17,381 | 14,107 | 23B | 20B | 1,266 | 871 |
| 2019 | 17,074 | 14,107 | 25B | 20B | 1,300 | 781 |
| 2020 | 14,476 | 16,536 | 17B | 26B | 1,183 | 745 |
| 2021 | 29,527 | 27,664 | 51B | 58B | 1,175 | 876 |
| 2022 | 51,281 | 40,072 | 126B | 86B | 1,457 | 1,004 |
| 2023 | 73,095 | 52,296 | 211B | 114B | 1,550 | 1,100 |
| 2024 | 116,992 | 59,875 | 288B | 146B | 1,671 | 1,249 |
| 2025 | 47,212 | 27,117 | 131B | 70B | 1,690 | 1,405 |
Dubai Property Prices Last 10 Years
We already see the price trends of Dubai. Let’s check out what happened year by year in this market. These insights might just help decide if Dubai property deserves a spot in your investment portfolio or not.
2014 Property Price in dubai
Dubai real estate boomed in 2014. Residential property sales kept climbing higher. Total investment hit AED 109 billion from 41,715 investors that year. Local Emiratis led spending with AED 22.7 billion. Indians topped foreign buyers, spending AED 18.1 billion across 7,353 transactions.
The market added 14,876 new units while prices averaged 956 AED per square foot. Typical apartments cost around 1,000,000 AED, with villas at roughly 3,174,944 AED.
What made 2014 special? The upcoming Expo 2020 announcement had created a buzz in this time. Investors were positioning themselves early to capitalize on expected growth.
Property Prices of Dubai Real Estate in 2015
The strong trend continued into 2015, with property sales totaling AED 267 billion – 8% more than 2014. Over 63,000 transactions happened this year. The hottest areas included:
- Business Bay (3,212 transactions worth AED 4.95 billion)
- Al Hebiya 4 (3,080 transactions worth AED 2.57 billion)
- Dubai Marina (3,059 transactions worth AED 6.24 billion)
Mortgages played a crucial role in the time. Mortgage transactions totalled AED 117 billion from over 12,000 transactions. New supply dropped to just 9,069 units (39.05% less than 2014), helping keep prices stable. Square foot costs dipped slightly to 962 AED, with apartments averaging 956,746 AED and villas around 3,193,928 AED.
2016 Property Price in Dubai
The market faced its first real test in 2016. Transactions fell slightly to 60,595, worth over AED 259 billion. This slowdown showed market maturity rather than serious trouble. Over 41,776 sales transactions were recorded, amounting to AED 103 billion. Land sales and mortgage transactions represented a significant portion, with a total value of AED 193 billion across 15,994 transactions.
Supply jumped back up to 15,125 units – a 66.74% increase from 2015. This extra supply pushed prices down, with square foot costs falling to 875 AED (8.47% less than 2014). Despite worldwide economic worries, developers showed faith in Dubai. They launched 134 new projects worth AED 100 billion, showing Dubai’s market strength.
Foreign buyers invested nearly AED 44 billion, with Indians leading the international buyer list. Business Bay, Dubai Marina, and Burj Khalifa remained the hottest spots for property investors.
2017 Property Price Trends in Dubai
The market bounced back in 2017, reaching AED 285 billion in total transactions – up 6% in number and 4% in value compared to 2015.
- Sales: Sales of land, buildings, and units reached AED 114 billion through 49,000 transactions.
- Mortgages: Mortgage transactions amounted to AED 138.5 billion across 15,700 transactions.
- Other Transactions: Approximately 4,000 other transactions were valued at AED 33.3 billion.
Supply grew steadily to 15,633 units. Square foot prices recovered slightly to 1000 AED, up 5.16% from 2016. Apartment prices rose to 963,170 AED while villa prices held steady around 2,685,888 AED.
Dubai’s global appeal grew stronger, attracting 39,480 investors who together spent over AED 107 billion. UAE nationals led with AED 25.3 billion, followed by Indian buyers with AED 15.6 billion.
Burj Khalifa (2,008 transactions worth AED 7.368 billion), Business Bay (3,763 transactions worth AED 7.115 billion), and Dubai Marina (3,300 transactions worth nearly AED 7 billion) remained the best areas to invest in Dubai.
Dubai Proeprty Prices in 2018
The market shifted toward quality in 2018. Dubai residential market saw over 5,454 villas and 25,595 apartments transacted. Ready property sales dropped to AED 74.7 billion (10% less than 2017), showing buyers became more selective. Square foot prices rose to 940 AED, up 4.44% from last year. Yet average apartment prices fell to 873,000 AED, and villa prices dropped to 2,400,000 AED.
Off-plan sales dropped sharply by 34% to AED 23 billion. Jumeirah emerged as a bright spot, becoming the best area for off-plan sales. Developments in World Islands , City Walk , Port de la Mer, Jumeirah Bay, and Madinat Jumeirah contributed to this success
Luxury property sales totaled AED 39 billion, led by Business Bay (AED 6.9 billion), MBR City (AED 6.3 billion), and Downtown Dubai (AED 5.4 billion).
Property Prices in Dubai 2019 - Emerging Year
As Expo 2020 drew closer, property interest picked up. Sales transactions topped 41998, worth AED 226 billion – notably higher than 2018’s AED 223 billion. This year, the Dubai government introduced the Golden Visa programme, which is a long-term residency visa that allows foreigners to live, work, and study in the UAE without a national sponsor. This step has further boosted the property market.
Dubai saw a dramatic rise to 28,777 units, up 79.87% from 2018. This flood of new properties pushed prices down, with square foot costs falling to 853 AED (9.26% less than 2018).
Dubai Marina strengthened its position as the top spot for apartment buyers, with 3,369 transactions worth AED 8.07 billion – way up from 2,526 transactions in 2018.
The market seemed to be picking up steam, and then 2020 arrived…
2020 Dubai Property Price Trends - Pandemic’s Impact
By 2020, the pandemic hit global markets hard, including Dubai. Yet the property sector adapted quickly with virtual sales tools. Supply still grew slightly to 30,353 units despite worldwide uncertainty. Square foot prices kept falling to 914 AED, down 6% from 2019. Most areas saw modest price drops under 10%.
Villas held their value better than apartments. Dubailand stayed the favorite for affordable villas in Dubai, with prices dropping just 2.4%. The Springs saw only a tiny 1.9% decrease.
People started wanting bigger homes as lockdowns made space more valuable. These changing needs set up the coming market surge.
Dubai Property Price in 2021 - Pandemic Recovery
After the pandemic, Dubai’s property market roared back. The 2021 year saw over 84,196 transactions worth nearly AED 300 billion – setting a new record in Dubai’s real estate history.
- Off-Plan vs. Secondary Market: 59.6% of transactions were for secondary/ready properties, while 40.4% were for off plan properties.
The Supply cycle grew to 31,964 units, up 5.31% from 2020. Despite more properties available, square foot prices dipped slightly to 794 AED, hitting the decade’s lowest point. This represented a 66.3% jump in transaction numbers and 72% more value than 2020. Property sales hit AED 151.07 billion, breaking a 12-year record.
Ready property sales reached their highest level since 2008, while off-plan sales surged, especially in late 2021.
2022 Property Prices in Dubai
Continuing the previous year’s trend, Dubai’s real estate market experienced exponential growth in 2022, with property prices for both villas and apartments increasing significantly. According to the Dubai Land Department, there were 97,466 sales transactions worth AED 265.6 billion, marking a record-breaking year for the sector. Both villa and apartment prices climbed significantly.
Square foot prices jumped dramatically to 1,039 AED – an amazing 30.86% increase in just one year. Apartment prices rose to 1,198,000 AED, while villa prices edged down slightly to 2,050,000 AED.
Jumeirah Village Circle (JVC) remained the top choice for affordable apartments, with a 7.25% increase in average price-per-square-foot, reaching AED 896. Dubai Marina saw apartment prices climb 11.6% to AED 1,501 per square foot. DAMAC Hills 2 became the top choice for affordable villas in Dubai, with prices up 2.89% to AED 626 per square foot. Dubai Hills Estate and Arabian Ranches 3 were top choices for luxury villa buyers. Dubai Hills Estate recorded a sales volume of 2,536 transactions worth AED 12.5 billion.
2023 Property Prices in Dubai
Dubai’s property market hit all-time highs with 132,628 sales valued at AED 409.8 billion. Prices rose across luxury, mid-range, and affordable segments.
The affordable apartment segment saw a notable increase in property prices, with areas like International City leading the way. The price-per-square-foot for apartments in International City surged by 15.5%, averaging AED 583. The average transaction price in the area stood at AED 383.2k, following a 5.22% increase.
In the mid-tier segment, Jumeirah Village Circle (JVC) emerged as the most sought-after district. The price-per-square-foot for flats in JVC recorded a 7% uptick, averaging AED 1,016. The average transaction price in the area was AED 691.7k, marking a 2.75% increase.
Dubai Marina retained its position as the preferred destination for luxury apartments in Dubai. The price per square foot for apartments in Dubai Marina increased by 9.16%, averaging AED 1,737. The average transaction value surged by 16.6%, reaching AED 1.88M, while DAMAC Hills 2 stayed the top pick for budget-friendly villas, with prices up 10.7% to AED 743 per square foot.
Dubai Property Price in 2024 - Record-Breaking Year
Following 2023’s record year, 2024 saw more growth despite global money troubles. Dubai Land Department (DLD), there were over 169,000 property sale transactions recorded in 2024, valued at AED 488 billion. The ready segment accounted for over 67,000 transactions, exceeding AED 274 billion, while the off-plan segment achieved over 102,000 transactions worth AED 213 billion.
Square foot prices reached 1,386 AED – up 17.96% from 2023 and a whopping 44.98% higher than 2014. Apartment prices grew to 1,280,000 AED, while villa prices soared to 3,535,544 AED, almost matching their 2014 peak.
Jumeirah Village Circle led the mid-range apartment market with prices up 12%. Dubai Marina stayed on top for luxury apartments with 7% growth. DAMAC Hills 2 saw villa prices jump 6-17%.
The Valley by Emaar showed the biggest price increase in affordable villas, while Arabian Ranches topped the luxury villas in Dubai with substantial growth.
Q1 2025 Dubai Real Estate Market Prices
Early 2025 shows Dubai property still performing strongly. It reveals that Dubai recorded over 42,000 real estate transactions with a combined value of AED 114.1 billion.
Throughout Q1 2025, the market demonstrated strong resilience, with nearly 25,000 off-plan sales contributing AED 53.9 billion in value. March alone saw more than 8,766 off-plan transactions, making it the quarter’s peak month. New projects like Cove editions 5, Jumeirah Golf Estate Next Chapter, Binghatti Aquarise, Sobha Central etc., attract serious investor attention.
Home loans keep expanding, with 25 year payment plans becoming common, making buying property possible for more people.
Areas growing fastest in Q1 2025 include Business Bay, Emaar the Valley and Dubai Residence Complex.
Future Project Supply Projection
Based on the property data from past performance and projections, we can observe the trends for future planned property supply starting from 1st of January 2025. The following table outlines the expected units over the next several years.
| Year | Planned Property Supply |
|---|---|
| 2025 | 48,000 |
| 2026 | 72,000 |
| 2027 | 66,000 |
| 2028 | 53,000 |
| 2029 | 26,000 |
What Does This Mean For You?
Dubai’s property market over ten years tells quite a story. From steady growth through pandemic troubles and back to record sales, its resilience stands out.
Keep these points in mind when thinking about investing:
- Dubai property has proven tough through market cycles
- Luxury spots like Dubai Marina keep attracting buyers
- Villas tend to hold value better when markets dip
- The market looks more mature now, suggesting steadier future growth
- Future supply forecasts show 48,000 units in 2025 and 72,000 in 2026, showing developers commitment in Dubai
Looking at 2014-2025 data, Dubai property has beaten many global markets. Yearly price increases ranged from 3% to 10%, with luxury homes seeing the best growth at roughly 10% yearly.
For those eyeing Dubai real estate, past performance suggests good timing now, especially with strong market basics in place.
How do you feel about Dubai’s property market? Thinking about buying, or already own something there?
