During the fourth quarter of 2024 (October to December), Dubai’s residential market experienced a notable surge, recording a total of 33,110 registered transactions. This marks a 55% year-on-year (Y-o-Y) increase compared to the 21,405 transactions documented during the same period in 2023. This significant rise in activity highlights the strong confidence of buyers in Dubai’s real estate sector.
The total registered home sales value (GTV) for the quarter reached AED 65.23 billion, reflecting a 44% Y-o-Y increase over the AED 45.45 billion recorded in the fourth quarter of 2023. The average registered home sales value for the period settled at AED 1.97 million, showing a slight dip of 7% compared to the previous year.
Rabiah Shaikh, Chief Business Officer & Principal Partner – Global Markets at Square Yards, commented, “Dubai’s residential real estate market continues its growth momentum, supported by a robust regulatory environment, investor-friendly policies, and an evolving investment ecosystem. These latest figures reaffirm Dubai’s attractiveness as a property investment hub, with significant double-digit growth in both transaction volume and value. Factors such as simplified property acquisition processes, advantageous visa and mortgage regulations, tax incentives, and high rental yields have further strengthened the emirate’s position on the global real estate stage. Looking forward, the market is poised for continued expansion, with strategic initiatives such as the Dubai Real Estate Sector Strategy 2033 paving the way. The ambitious goal of doubling the sector’s GDP contribution, enhancing homeownership, and surpassing AED 1 trillion in market value underscores the confidence in Dubai’s long-term real estate potential, with residential properties playing a pivotal role.”
Top-performing developers and projects In the last quarter of 2024, Sobha Realty led the market with 1,960 registered residential transactions, driven primarily by its flagship project, Sobha Orbis. Following closely, Azizi Developments secured the second position with 1,158 transactions, with Azizi Venice emerging as a key highlight. Damac Properties ranked third, recording 1,050 transactions, largely propelled by its Damac ELO project. Binghatti Developers claimed the fourth spot, registering 700 transactions, with Binghatti Hills standing out as its leading development.
In terms of registered home sales value, Sobha Realty once again dominated the rankings with AED 4,297 million, owing to the robust performance of Sobha Orbis. Emaar Properties followed with AED 1,965 million, primarily driven by the success of Emaar Marina Cove. Damac Properties secured third place with AED 1,464 million, supported by Damac Lagoon Views, while Azizi Developments occupied the fourth position with AED 1,370 million, reinforced by Azizi Venice.
Dubai’s residential real estate sector remains on a steady growth trajectory, solidifying its reputation as a prime destination for property investment and development.
