_638678746299023178_820465_.webp)
It indicates that investors believe in the city’s future. We discuss what brought about the achievement, the best areas for luxury living, and what the future holds for Dubai real estate.
Record-Breaking Growth in Off-Plan Properties
A report by Engel & Völkers Middle East shows that the Dubai Real Estate Market show an 80% rise in sales. Growth was mainly seen off-plan sales, which increased by 117% compared to last year. Investors mostly like off-plan properties in Dubai because they will provide huge capital appreciation in the future.
The reason why investors prefer off-plan units is the long-term growth of Dubai. Developers are taking advantage of the city’s big plans like the Dubai Urban 2040 Plan and Real Estate Strategy 2033. They attract buyers with low early prices and flexible payment options.
Secondary Market Scenario
Generally off-plan sales are dominating, but the secondary market also recorded a 33% growth in sales. However, it also indicates that Dubai is still attractive to those looking for ready-to-move properties. The growth of both off-plan and secondary markets shows the diversity in investor interest.
Prime Destination for Global Investors
Even with rising property values, Dubai is still appealing to investors. The average price rise is 1.7%, and rental returns average 6.9%. These returns are strong compared to other places, making Dubai a stable real estate center. Here is the comparison between dubai with prime global cities.
| Index | Dubai | New York, NY | Mumbai | Toronto | London |
|---|---|---|---|---|---|
| Price to Income Ratio | 7.16 | 15.25 | 29.86 | 12.52 | 16.35 |
| Mortgage as %age of Income | 55.38% | 138.18% | 320.47% | 108.93% | 130.53% |
| Loan Affordability Index | 1.81 | 0.72 | 0.31 | 0.92 | 0.77 |
| Price to Rent Ratio - City Centre | 12.57 | 20.46 | 42.62 | 25.54 | 29.08 |
| Price to Rent Ratio - Outside Centre | 10.77 | 22.67 | 37.31 | 24.55 | 24.37 |
| Gross Rental Yield (City Centre) | 7.96% | 4.89% | 2.35% | 3.92% | 3.44% |
| Gross Rental Yield (Outside Centre) | 9.28% | 4.41% | 2.68% | 4.07% | 4.10% |
As we see above, Dubai’s numbers are very attractive to wealthy individuals and businesses. Daniel Hadi, CEO of Engel & Völkers Middle East, said that Dubai is strong and appealing as a top global real estate market.
Dubai continues to attract investors with its infrastructure and favorable business rules and lifestyle options. They want good returns and a great place to live.
The Top Five Exclusive Residential Areas in Dubai
Dubai is known for its trendy communities, and each of them presents a lifestyle. The latest report by Engel & Völkers reflects the top five most exclusive areas in terms of real estate investment. These areas cater specifically for people looking for high-quality amenities, status, and comfort.
1. Palm Jumeirah
Palm Jumeirah is Dubai’s best, always ranked number one for its luxury properties. It holds special beachfront villas, high-end shopping, and marinas. Villas on Palm Jumeirah are known to cost Dh37 million, attracting luxury buyers worldwide.
2. Dubai Marina
Dubai Marina is known for world class dining, fun activities, and nightlife, attracting young workers and families. Its famous canal, high-quality waterfront homes, and new dining and shopping choices make Dubai Marina offer luxury and city living.
3. Downtown Dubai
Downtown Dubai is in the heart of Dubai. Here, you can find iconic Burj Khalifa, Dubai Mall, and Dubai Opera. When it comes to real estate, Downtown Dubai offers sky villas, penthouses and luxury apartments. It is a prime luxury place due to the mix of cultural, residential, and business spaces in Downtown Dubai.
4. Dubai Hills Estate
Dubai Hills Estate is one of the best family-friendly communities in Dubai. It has vast parks, an 18-hole championship golf course, and ample amenities. Known for its lush green spaces, it offers a suburban feel, ideal for those desiring a quieter environment while still being close to Dubai’s business and entertainment hubs.
5. Emirates Living
Emirate Living has several sub-communities such as The Springs, The Lakes, The Meadows, and Emirates Hills. Emirates Hills is well-known for grand houses and luxury living. With many popular schools and services nearby, this area suits families who are looking for comfort and luxury.
Commercial Real Estate Growth in 2024
Dubai Commercial Real Estate Market saw a lot of growth in 2024. The total value of commercial property sales amounted to Dh10.9 billion. This is 10 % up from last year due to high-quality commercial spaces.
This year, office space increased by 24% as compared to the previous year. Dubai office prices averaged at Dh1,503/ square foot, a 37% rise from the same time the previous year.
Office rental prices increased by 25.8%, and retail rents rose by 6.9%. These results reflect increased demand by the business sector in terms of moving or expanding their operations to Dubai.
What’s Next for Dubai Real Estate?
As we approach the end of 2024, the real estate market in Dubai looks good. Engel & Völkers expects more growth both in residential and commercial spaces. The increasing off-plan deals and strong growth in the second-hand market has helped Dubai to grow even bigger in 2025.
The government is focusing on innovation, infrastructure, and good investment policies to keep growth going. Projects such as extending the waterfront living areas and green initiatives will draw more interest, making Dubai an even stronger leader in real estate.
End Note
Dubai crosses Dh50 billion in real estate sales. It is a major milestone for Dubai. The city’s strong growth in both residential and commercial shows its special attraction. It offers luxury beachfront properties and high-quality office spaces for all types of investors.
Dubai’s ability to bounce back and its smart plans make it different from other global cities, which are fueling global investors and wealthy individuals. With plans to upgrade infrastructure, support new ideas, and improve life for residents, Dubai is ready for a bright future.
Dubai is full of chances, luxury, and a good life for investors. The more Dubai grows and breaks the records, the stronger it gets its impression as a leader among preferred investments in real estate.
_638678746299023178_820465_.webp)
