The Dubai real estate market closed December 30, 2024, with an impressive total transaction value of AED 2,584,172,203. This figure is a testament to the city’s thriving real estate landscape, driven by robust activity across both off-plan and ready properties.
Off-Plan Properties
Off-plan transactions contributed 72.3% of the total, amounting to AED 1,868,405,828. This highlights the continued strong demand for new developments in Dubai. Breaking down the sub-categories:
- Flats: Dominated the off-plan segment, contributing 84.8% of the total off-plan transactions with a value of AED 1,584,543,553.
- Villas: Represented 11.4% of off-plan transactions, totaling AED 212,101,983.
- Hotel Apartments & Rooms: Recorded AED 7,652,838, a modest 0.4% contribution.
- Commercial: Accounted for 3.4%, with transactions worth AED 64,107,454.
Ready Properties
Ready property transactions comprised 27.7% of the total, valued at AED 715,766,375. This reflects a consistent interest in immediately available properties. The contributions of the sub-categories were as follows:
- Flats: Led the ready market with a 64.6% share, amounting to AED 462,359,657.
- Villas: Accounted for 24.8%, with transactions worth AED 177,635,531.
- Hotel Apartments & Rooms: Contributed 3%, totaling AED 21,685,828.
- Commercial: Made up 7.6%, with a value of AED 54,085,359.
Key Insights
- Dominance of Off-Plan Transactions: With over 72% of the total, off-plan properties underline Dubai’s appeal as a hub for future-focused investments, driven by ongoing infrastructure and development projects.
- Flats as a Preferred Choice: Flats led transactions in both off-plan and ready segments, highlighting their accessibility and popularity among buyers.
- Balanced Market Activity: The ready property market’s 27.7% share reflects a steady demand for move-in-ready homes, catering to immediate housing and investment needs.
- Growing Interest in Villas: Villas demonstrated significant contributions in both off-plan (11.4%) and ready (24.8%) segments, indicating a rising preference for larger residential spaces.
Conclusion
The robust performance of Dubai’s real estate market on December 30, 2024, underscores the city’s dynamic property sector. The strong off-plan activity reflects investor confidence in Dubai’s long-term growth, while the sustained interest in ready properties indicates a balanced and vibrant market. With its strategic initiatives and continuous development, Dubai remains a global hotspot for real estate investment and lifestyle opportunities.
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