Dubai, UAE – February 2025 – Land Sterling, a premier real estate consultancy, has unveiled
its Q4 2024 Dubai Property Watch Report, offering a comprehensive analysis of the
emirate’s dynamic real estate landscape. The latest findings highlight a surge in transaction
volumes, significant capital value appreciation, and evolving market trends shaping Dubai’s
property sector.
The report reveals that Dubai’s real estate market closed 2024 on a strong note, with
transaction volumes increasing by 46% year-over-year (YoY), surpassing 48,000
transactions in Q4 alone. Total transaction value reached AED 118 billion, reflecting a 30%
YoY growth. The demand for off-plan properties remained a driving force, accounting for
over 70% of total sales.
Said El Haouasli, CEO of Land Sterling, commented:
“Dubai’s real estate market has demonstrated remarkable resilience and sustained
momentum. Despite global economic challenges, investor confidence remains strong, driven
by regulatory enhancements, strategic urban development, and the city’s growing global
appeal.”
Supply Constraints and Rising Property Values
Despite the robust transaction activity, new residential supply in 2024 fell below initial
forecasts, with fewer than 25,000 units completed, 75% of which were apartments. Supply
chain challenges caused project delays, shifting a significant number of handovers to 2025
and beyond. Looking ahead, over 45,000 units are expected to be delivered in 2025, with
continued supply growth anticipated through 2028.
The supply shortage contributed to notable price increases, with apartment values rising by
18% and villa prices by 20% YoY. Rental values also saw a sharp uptick, with apartment
rents growing 16% YoY and villa rents increasing 13% YoY due to sustained tenant demand.
Top-Performing Areas and High-Value Transactions
Key residential districts continued to lead market activity, with Jumeirah Village Circle (JVC),
Business Bay, Dubailand Residence Complex, Dubai Hills Estate, and Dubai South ranking as
the top five areas by transaction volume. In terms of transaction value, Business Bay, Dubai
Hills Estate, District One, Palm Jumeirah, and Downtown Dubai emerged as the highest performing locations.
Dubai also witnessed record-breaking transactions, including a luxury villa in EOME
Residences on Palm Jumeirah selling for AED 170.5 million and an ultra-premium apartment
in Six Senses Residences for AED 130 million.
Market Outlook
New regulatory changes permitting foreign freehold ownership in strategic locations
such as Sheikh Zayed Road, Al Jaddaf, and Dubai Water Canal are expected to further
diversify the investor base and drive long-term demand. Meanwhile, cooling
measures introduced by the UAE Central Bank to curb speculative buying indicate a
more balanced market trajectory in the coming years.
About Land Sterling
Land Sterling is a premier real estate consultancy company, providing a comprehensive
range of specialist expert property analysis, cost modelling and solutions across
diverse market sectors.
Land Sterling offers advanced capabilities across all facets of real estate consultancy.
Expertise spans project management, cost consultancy, building and facilities
management
consultancy, strategic advisory, property valuation, and more, delivering a whole lifecycle one-stop solution for all real estate needs.
Headquartered in the UAE and actively operating for the past 15 years, Land Sterling
has established itself as a trusted partner throughout the Middle East, North Africa,
and Europe, enabling clients to make trusted informed property decisions.
The company’s capabilities and professionalism is further reinforced by its regulated
oversight by market bodies, including the RICS, and International Valuation Standards.
This press release summarises key findings from the Land Sterling Q4 2024 Dubai
Property Watch report.
Download the Land Sterling Dubai Property Watch Q4 2024 full report:
https://landsterling.com/marketing-newsletter/