A new market report from leading property portal Bayut has revealed that the value of real estate transactions in Dubai during the first half of 2024 exceeded AED 123 billion.
Between January and June, over 43,000 property sale transactions were recorded across the emirate. This points to a highly active market bucking broader speculation of a slowdown.
The data shows prices continuing an upward trend, with significant increases seen in popular areas. Villas in The Valley saw a 17% jump while apartments in Jumeirah Lake Towers rose 12-40%.
Among affordable areas, International City and Dubai South drew buyer interest. Those seeking mid-range properties focused on Jumeirah Village Circle and Al Furjan. Luxury options in Dubai Marina and Arabian Ranches also saw demand.
Interestingly, while affordable apartment prices dipped up to 18%, DAMAC Hills 2 villas recorded a 41% surge. Rental prices similarly climbed across segments, demonstrating vibrant market sentiment.
According to Bayut CEO Haider Ali Khan, Dubai is emerging as a preferred destination for global wealth preservation amid economic challenges. New tools like property valuation service TruEstimate provide transparency boosting informed decision making.
The data affirms Dubai’s continuing appeal. Even with global headwinds, its real estate maintains momentum as a premier investment hub for international and local buyers alike.
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