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- January 7, 2025
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UAE Real Estate Market 2024: A Year of Remarkable Growth and Record Transactions
The UAE's real estate market has once again proven its resilience and allure, closing 2024 with unprecedented achievements. Across the four major emirates—Dubai, Abu Dhabi, Sharjah, and Ajman—real estate transactions have reached an impressive AED 893 billion, underscoring the sector's critical role in the country's economy.
This milestone, driven by a combination of diverse investment opportunities, infrastructure developments, and increasing demand for various property types, sets the stage for a promising future.
Record-Breaking Performance Across Emirates:
Dubai: The Crown Jewel of Real Estate Dubai continues to lead the charge with record-breaking transaction values totaling AED 760.7 billion from 226,000 deals in 2024. Property sales alone contributed AED 522 billion through 180,000 transactions, while mortgages added AED 187 billion across 35,000 deals. These figures reflect a 28.9% increase from 2023, solidifying Dubai’s position as a global hotspot for real estate investment.
Key factors fueling this growth include:
- A surge in luxury property demand, especially among high-net-worth individuals.
- Proximity to iconic landmarks like the Burj Khalifa and Dubai Canal.
- Strategic initiatives by the Dubai Land Department to streamline transactions and enhance investor confidence.
Abu Dhabi: A Strong Contender Abu Dhabi’s real estate market also demonstrated significant activity, recording AED 79.3 billion in transactions through 25,046 deals. Sales surpassed AED 46.5 billion, including 5,646 ready unit transactions and 9,169 off-plan deals. The “Dari” platform played a pivotal role in facilitating these activities, reflecting the emirate’s commitment to digital transformation.
Mortgage transactions reached AED 32.8 billion across 10,230 deals, showcasing the emirate’s robust infrastructure and investor-friendly environment. Abu Dhabi’s focus on mixed-use developments and luxury waterfront properties continues to attract local and international buyers.
Sharjah: A Hub of Affordability and Innovation Sharjah maintained its steady growth trajectory, with AED 36.4 billion in real estate transactions between January and November 2024. Mortgage activities accounted for AED 9.5 billion, while total sales transactions reached 78,600 during the period.
Sharjah’s unique appeal lies in its blend of affordability and innovation. With a variety of real estate projects catering to middle-income families and investors, the emirate has successfully positioned itself as a key player in the UAE’s property market. The government’s focus on sustainable developments and cultural landmarks further enhances its appeal.
Ajman: A Rising Star Ajman recorded AED 16.9 billion in real estate transactions in 2024, marking a remarkable 43% growth compared to 2023. The emirate executed 11,500 deals, with trade volumes totaling AED 10.2 billion. The Ajman Department of Land and Real Estate Regulation reported 12,718 transactions valued at AED 16.35 billion by the end of October 2024.
Ajman’s upward trajectory is fueled by diverse investment opportunities, competitive property prices, and a focus on community-driven projects. As a smaller emirate, it offers an attractive entry point for investors looking to capitalize on the UAE’s booming real estate market.
A Global Hub for High-Net-Worth Individuals
The UAE’s vibrant real estate market has cemented its reputation as a global hub for property investments. The country’s strategic location, tax-free environment, and world-class infrastructure continue to attract high-net-worth individuals (HNWIs) and international investors. Luxury properties, in particular, have seen soaring demand, driven by an influx of expatriates and global elites seeking second homes or investment opportunities.
Positive Outlook for 2025
As we step into 2025, the UAE’s real estate market is poised for continued growth. Experts predict a 10-15% increase in transaction volumes, with total sales potentially nearing the AED 600 billion mark. Key drivers for this growth include:
- Launch of new mega-projects and mixed-use developments.
- Government initiatives to enhance transparency and investor protections.
- Growing demand for sustainable and technologically advanced properties.
Why Invest in the UAE Real Estate Market?
- High ROI: With record-breaking sales and steady price appreciation, the UAE offers some of the highest returns on investment in the global real estate market.
- Diverse Opportunities: From luxury apartments in Dubai to affordable housing in Sharjah, there’s something for every investor.
- World-Class Infrastructure: The UAE’s commitment to innovation ensures seamless connectivity, state-of-the-art facilities, and sustainable living environments.
- Investor-Friendly Policies: Tax-free earnings, easy repatriation of profits, and robust legal frameworks make the UAE a preferred destination for global investors.
Are you ready to be a part of the UAE’s real estate success story?
For more insights into the UAE real estate market, stay tuned to ARK Real Estate.
Contact us today to explore exclusive investment opportunities!
WA: +971 586278678
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