• Existing market continues to scale in Abu Dhabi with a YoY increase of approximately 53.4% in volume, with 4,320 transactions touching AED 9.27 billion
  • Dubai demonstrates a record-breaking year with highest ever volume and value of transactions. Off-plan growth continues showing increased demand with a YoY volume spike of roughly 60.6%, with 109,527 transactions, reaching AED 228.03 billion

United Arab Emirates: UAE’s real estate market continues to soar as Property Finder, MENA’s leading property portal, reveals 2024 insights showcasing unprecedented growth and momentum across the region.

Dubai achieved record-breaking transaction volumes and values, totaling 180,987 transactions worth AED 522.5 billion. This marks a significant leap of 36.5% in volume and 27.2% in value compared to the previous market peak in 2023. The surge was driven primarily by off-plan sales, which accounted for 60.5% of total transactions, up from 43.6% last year.

Meanwhile, Abu Dhabi’s real estate sector demonstrated a moderate performance, with 14,662 transactions valued at AED 47.92 billion the market grew by 4% in terms of volume. Residential properties represented 66% of total transaction volume and 53% of total value, recording 9,707 transactions worth AED 25.6 billion

Key insights included:

Off-plan Market:

  • Dubai:
    • Off-plan sales in the Emirate demonstrated increased demand, with a year-on-year volume growth of approximately 60.5%, reaching around 109,527 transactions.
    • This marked the highest volume of transactions for a year ever recorded. In terms of values, there was a year-on-year surge of around 43.5%, amounting to AED 228.03 billion, compared to AED 159 billion in 2023.
    • The market also experienced a remarkable contribution to the total transaction, with its highest proportion for off-plan transactions in the past decade, reflecting a 61% increase.
  • Abu Dhabi:
    • The off-plan market registered approximately 5,385 transactions, accounting for 55.5% of the total in 2024.
    • Values reached AED 16.34 billion, contributing to 63.8% of the total residential sales transaction value.

Existing/Ready Property Market:

  • Dubai:
    • Existing property related transactions showed a YoY increase of around 10.9% in volume, with around 71,460 transactions.
    • This accounted for 39% of the total transactions in 2024. The market also experienced a changing hand for the off-plan market in which the new projects are more attractive to the investors and the home seekers.
    • The value of these transactions surged by almost 16.9% YoY, reaching AED 294.5 billion, compared to AED 252 billion in 2023.
  • Abu Dhabi:
    • Existing property related transactions showed a significant YoY growth of 53.4% in volume, reaching approximately 4,320 transactions in 2024.
    • These transactions accounted for 64% of total transactions volume.
    • The total value of existing/ready transactions reached AED 9.27 billion, contributing 44.5% of the total sales transaction value in 2024.
    • This represented a 34.7% YoY increase in transactional value.

Cherif Sleiman, Chief Revenue Officer, Property Finder commented, “2024 was a defining year for UAE’s real estate sector thanks to a record breaking volume and value of transactions and it looks set to continue for 2025. It is an exciting time in the industry as momentum continues to grow in Dubai’s off-plan market, as well as in Abu Dhabi’s portfolio of properties. In a market hungry for further trust and transparency, the newly launched Smart Rental Index from Dubai Land Department is just one example of how the UAE constantly strives to raise the bar. We are fortunate to operate in a nation that champions economic diversification, attracts foreign investments and welcomes an influx of talent, creating sustained interest in the property market.
 

As a lighthouse tech company in the region, Property Finder will continue to spearhead innovation and empower our stakeholders with accurate data and insights to support both homeseekers and our customers.”

Adding an external perspective, Mark Richards, Chief Executive Officer, The Network, noted, “Dubai’s real estate market is set for a strong performance in 2025, driven by sustained demand and limited supply in key segments. The emirate continues to attract new residents, with an annual influx of 50,000–60,000 people, reinforcing long-term market stability. Approximately 41,000 new residential units are expected to be delivered in 2025, but only around 5,000 of these will be villas and townhouses, highlighting a significant supply gap in this high-demand sector. These dynamics, combined with Dubai’s position as a global hub, suggest a highly optimistic outlook for 2025 and beyond.”

Sam McCone, Managing Partner, McCone Properties, said, “Private developers have consistently demonstrated their commitment to delivering high-quality real estate, often surpassing expectations. While the major players have focused on creating expansive master-planned communities, private developers have invested time and effort into refining the quality and craftsmanship of individual projects. As a result, buyers and tenants are beginning to raise their expectations. They now seek not only desirable locations but also properties that meet high standards of design, construction, and interior quality. This evolving demand is redefining the competitive landscape and setting new benchmarks across the market.”

Abdullah Alajaji, Managing Director, Driven Properties, highlighted, “In 2024, we saw affordable housing becoming increasingly sought after as rents continued to rise. There was also a noticeable shift toward smaller units in terms of size, which has been a defining characteristic of the market. We observed sustained demand in both the luxury property and off-plan markets, trends that we believe will persist into 2025. The growing interest in off-plan properties indicates strong investor confidence in future developments, a positive sign for the market in the coming year.”

More information and previous Property Finder Market Watch Reports for 2024 can be found here.

Disclaimer

Market Watch Digest (MWD) serves as a streamlined version of the comprehensive Market Watch report, available in the coming weeks, designed to provide a rapid snapshot of market performance over a specific period. The data presented in MWD are preliminary and subject to change when compared to the detailed report. The definitive data will be available in the final version of Market Watch. Therefore, any discrepancies between MWD and the comprehensive report should be noted

About Property Finder

A pioneering property portal in the Middle East and North Africa (MENA) region, Property Finder is on a mission to motivate and inspire consumers to get living the life they deserve. Connecting millions of property seekers with thousands of real estate professionals every day, Property Finder is a go-to place for a seamless and enriching house-hunting and finance-finding journey for both buyers and renters.

Since its inception in 2007, Property Finder has evolved into a trusted platform for developers, real estate brokers and property seekers to make informed decisions on all things real estate.

For more information, please contact:
Weber Shandwick
propertyfinder@webershandwick.com