Dubai Property Market Breaks Records: What Does This Mean for You?

The Dubai property market accelerated significantly in 2024. Anyone with even a passing interest in investing in this city cannot ignore it: the volume of transactions and the appreciation in values are impressive.

But what is the precise situation, and is this the moment to make a move or to remain cautious?

In the second quarter of 2024 alone, property sales exceeded AED 151 billion. This represents an increase of 34% compared to the previous year. In total, the first half of the year saw nearly 39,000 transactions. A significant 60% of these sales were off-plan, meaning properties that are yet to be constructed.

In May 2025, Dubai also saw record sales of AED 73.2 billion.

A Significant Influx of New Residents

According to Gulf Business, approximately 220,000 people relocated to Dubai in the first half of 2024. This is a substantial increase and partly explains why housing demand remains high. However, there are concerns: around 260,000 new apartments are planned, and the question is whether the influx will be large enough to fill all those homes.

New investors sometimes question whether the market is becoming overheated. Although supply is increasing, prices continue to rise. In some areas, such as Dubai Hills, Palm Jumeirah and Dubai Marina, over AED 13.5 billion in capital gains has already been realised. Downtown Dubai, Emirates Living and Business Bay are also performing well. With the exception of Business Bay, these areas are almost fully developed. This means there is virtually no more space to build there.

Concrete Market Figures

Some notable market statistics:

• Total sales value: AED 154 billion (approximately EUR 39 billion), a 27% increase compared to last year
• Number of sales: 49,200, which is 20% more than a year earlier
• Average price per m2: approximately AED 17,220 (EUR 4,320), a 3% year-on-year increase

These figures show that the market is still growing, but at a more moderate pace. The increase in the average price is slightly less sharp than in previous years, indicating a degree of stabilisation.

What Does This Mean for You as a Potential Buyer?

For those considering purchasing a property in Dubai, it is now especially important to conduct thorough due diligence. Pay attention to the supply and demand dynamics in specific areas, check whether a project is already completed or still under construction, and consider the long-term outlook.

The question remains whether housing demand will be able to keep pace with the rate of construction. However, as long as the influx of new residents remains strong and Dubai continues to improve its infrastructure and quality of life, there appears to be sufficient potential in the market for the foreseeable future.