Dubai Real Estate Transactions as Reported on the 19th of December 2024
Dubai recorded total real estate transactions worth AED 1.49 billion on 19 December 2024. The transactions were split into two primary categories: Off-Plan properties and Ready properties. Off-Plan Transactions Off-Plan properties contributed 53.2% of the total transactions, amounting to AED 793.8 million. This category’s breakdown is as follows: Ready Transactions Ready properties accounted for 46.8% of the total, reaching AED 699.4 million. The sub-category contributions are: Key Highlights Public Appeal and Market Outlook Dubai’s real estate market on 19 December 2024 showcased strong investor confidence across both Off-Plan and Ready properties. The dominance of Off-Plan properties indicates ongoing interest in future developments, while the significant Ready transactions reflect steady demand for immediate ownership. The market’s diverse offerings, from flats and villas to niche commercial and hospitality properties, ensure Dubai remains a leading global real estate hub. This balance of categories continues to attract a broad range of investors and end-users, reinforcing the city’s position as a dynamic and resilient market. Dubai Real Estate Market Review 20-Dec-2024 Insurance premiums for Dh1 million coverage cost Dh1,200–Dh2,000 annually for healthy borrowers. $5.6bln Dubai Metro Blue Line set to open on 09-09-2029. Landlords can increase rent by maximum of 20%. UAE: Why property buyers with a mortgage should have life insurance? Demand for term life insurance is rising in the UAE as mortgage buyers are required to secure it for added protection. Dubai’s off-plan property sales dominate, with Dh15.8 billion in transactions in November. Premiums for Dh1 million coverage cost Dh1,200–Dh2,000 annually for healthy borrowers. Dubai’s Real Estate Market Shines with AED 120 Million Villa Sale in Emerald Hills A record AED 120 million villa sale in Dubai’s Emerald Hills highlights the city’s booming luxury real estate market and profitability for HNW and UHNW investors. Custom-built villas in premium locations, driven by strong demand, offer exceptional returns, cementing Dubai’s status as a global hub for luxury living and investment. $5.6bln Dubai Metro Blue Line set to open on 09-09-2029 Dubai Metro’s AED 20.5 billion Blue Line, operational by September 2029, will span 30 km with 14 stations. Serving 200,000 daily passengers initially, it aims to ease congestion, boost property values, and connect key areas, benefiting a projected 1 million residents by 2040. Dubai ranks second in global real estate table where annual price appreciation is concerned Dubai ranks second globally for annual property value growth, with a 19.4% increase, behind Krakow’s 24.7%. eXp Realty attributes Dubai’s success to world-class infrastructure, progressive policies, and a thriving ecosystem, reinforcing its appeal as a top global investment and living destination. Dubai landlord raises rent by 30 per cent, tenant mulls legal action In Dubai, landlords can increase rent by a maximum of 20% based on Decree No. 43 of 2013, depending on how the current rent compares to market rates. A 30% increase is not allowed. Disputes on rental hikes can be resolved through the Real Estate Regulatory Agency. Elite Holding to set up integrated facility in Dubai Industrial City Elite Group Holding is investing AED 100 million in a 1 million sq ft facility at Dubai Industrial City to drive innovation in the automotive and e-commerce sectors. Operational by Q2 2026, the facility aligns with UAE’s economic growth initiatives, supporting local and global markets while enhancing industrial efficiency and sustainability. Imtiaz Developments announces early completion of Westwood Grande, JVC Imtiaz Developments has completed its 20-storey Westwood Grande residential tower in JVC two months early, showcasing its commitment to quality and efficiency. The developer plans to deliver four more projects by Q2 2025, solidifying its position as a leading boutique developer in Dubai’s real estate market. Property Finder reveals most searched home features across property searches in 2024 Property Finder’s 2024 Home For Every Life Index highlights unique UAE properties and lifestyle trends, with searches focusing on balconies (5.5M), maid’s rooms (3.1M), and private pools (1.3M). Demand for freehold ownership and short-term rentals is rising, reflecting evolving preferences for flexibility, luxury, and lifestyle-enhancing amenities.