Real Estate

Dubai Real Estate: Biggest Price Rises Revealed as Neighbourhood Sees 33% Increase and One Area Sees 10% Rent Returns

The residential real estate sector in Dubai experienced exceptional growth during 2024 when sales reached 169,000 which constituted a 42% increase from 2023 figures. The subject of residential properties remained on an upward trend in 2024 based on Cavendish Maxwell’s findings that prices increased 0.9% during December compared to the last month and 3.1% above Q4 numbers from the previous year. Property prices increased by 16.5% across the year while the square foot price rose to AED 1,493 which equals $407.

As many as 145,000 new off-plan units became available to buyers during the entire year while staying four times above pre-Covid market levels. The market leadership for unit releases and sales value during this period rested with developers Emaar together with Binghatti and DAMAC Properties. Residential building purchases where apartments represented 81% of the total properties sold shows how demand in the sector remains strong.

During Q4 2024 Barsha Heights experienced the most substantial price increase for apartments amounting to 33% when compared to Q4 2023. The district of Dubai Silicon Oasis demonstrated apartment market growth amounting to 24% while Jumeirah Lakes Towers experienced 21% growth. The residential market in Nad Al Sheba led the way with 54% villa and townhouse price growth and Jumeirah Village Triangle and Dubai South trailing close behind with 33% and 29% increases.

Dubai Investments Park maintained its leading position in rental yield returns at 10.3% while International City followed closely with 9.4% then Dubai Production City produced 8.6%. The rental prices for villas jumped by 52% within Palm Jumeirah. Dubai’s real estate sector indicates that its market expansion will continue at a steady pace until 2025.

Victoria Dickinson

Victoria Dickinson is a seasoned journalist at Dubai.News, specializing in real estate and business news. With over a decade of experience in the industry, Victoria has a keen eye for market trends and an in-depth understanding of the economic factors influencing the real estate sector. Based in Dubai, she provides insightful analysis and comprehensive coverage of the region's dynamic property market, from luxury developments to emerging business hubs. Victoria's background in economics and finance, coupled with her passion for storytelling, allows her to deliver news that is both informative and engaging. Her articles not only inform but also help readers make well-informed decisions in the competitive real estate landscape. Outside of her professional work, Victoria enjoys exploring Dubai’s diverse neighborhoods and attending industry events to stay ahead of the latest developments.

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