Report: Strong Demand Sustain Dubai Real Estate Market – Construction Business News

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The report highlights Q1 data for Dubai’s real estate market showing clear growth over the past three years

Dubai’s real estate market continues to show resilience and strength, driven by sustained demand and the effects of inflation, and a market update issued today says the Emirate remains vibrant and attractive to a diverse range of property investors.

The report paints a positive picture of Dubai’s real estate market, based on its established reputation as a premier global destination. It continues to attract new residents, tourists, and individual and institutional foreign investors, promising a bright future for the market.

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Firas Al Msaddi, CEO of fäm Group

As the CEO of fäm Properties, Firas Al Msaddi issues a market update that highlights the persistent strong demand for Dubai real estate, capable of absorbing the available supply. This trend is set to continue when numerous off-plan projects reach completion beginning in Q1 2025.

The report says Dubai’s market for rental properties, ready-to-buy, and off-plan properties appears healthy. While the extraordinary capital gains witnessed over the past two years may not persist, steady and healthy growth is anticipated.

It points out that properties in Dubai constructed at lower costs in the past are likely to appreciate because the cost of building new properties continues to rise due to inflationary pressures on construction materials, logistics, and other expenses.

Report: Strong Demand and Inflation Effects Sustain Robust Dubai Real Estate Market

The report highlights Q1 data showing apparent growth over the past three years. The number of sales transactions in Q1 2024 (65,450) was double the number of transactions in Q1 2023 (32,725) and triple the number of transactions in Q1 2022 (21,817)

The value of sales transactions in Q1 2024 was AED 186 billion, a 24% increase on Q1 2023 (AED 150 billion) and a 107% increase on Q1 2022 (AED 90 billion). This significant increase indicates a robust and growing market.

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