Dubai Real Estate / Property Trends

The following information about Dubai’s thriving property market has been produced by combining key insights from Property Monitor and backed by Dubai Land Department (DLD).

General Q1 2024 highlights include:

• Total sales value of properties sold increased by 25 per cent from Q1 2023 to Q1 2024 (secondary sales) 

• Total sales volume of properties sold increased by 12 per cent from Q1 2023 to Q1 2024 (secondary sales) 

• Total rental value of properties increased by 7 per cent from Q1 2023 to Q1 2024 (new and renewal contracts) 

• Jumeirah Islands, Jumeirah Park and Sobha Hartland saw the biggest increases in average price per square foot from Q1 2023 to Q1 2024 for villa communities (36 per cent) 

• The Greens saw the biggest increase in average price per sq. ft from Q1 2023 to Q1 2024 for apartment communities (28 per cent)

Off-Plan Q1 2024 highlights include:

• Off-plan performed well with 58 per cent of total sales

• The average rental yield in Dubai sat at 7.3 per cent, which includes older properties

• Selected off-plan projects expected to yield up to 10 per cent ROI, turning the heads of investors seeking rewarding passive incomes

• Jumeirah Village Circle (JVC) continued to see the most transactions in line with the community’s expansive growth and investment potential, followed closely by Dubai Maritime City and Business Bay