The real estate market in Dubai continued its exceptional journey, setting new records never before seen in the emirate, according to a report by leading real estate brokerage W Capital. Real estate transactions and sales set three new records during the first half of 2024, including:
- Highest ever half-year sales at AED 233 billion.
- The best quarterly sales in market history at AED 124.5 billion in the second quarter of 2024.
- The highest quarterly sales in market history at AED 124.5 billion in the second quarter of 2024.
- Highest monthly sales ever in June at AED 45 billion.
- Dubai's attractiveness to new residents and investors.
- Dubai is home to some of the world's most luxurious and sought-after real estate.
- High rental yields compared to many other global real estate markets.
- The continued strength of Dubai's non-oil economy.
Dubai Dubai recorded 80,230 real estate sales during the first half of 2024. The first half sales represent 58% of the total 2023 sales.
The emirate also recorded 344.4 billion dirhams in total transactions in Dubai's real estate market during the first half of the year. June is the second-best month in terms of sales in the market's history.
June is the second-best month in terms of sales in the market's history. <These figures indicate exceptional growth in Dubai's real estate sector, with first half sales increasing by 30% compared to the same period last year, while second quarter sales increased by 38%. This increase is attributed to multiple factors, including:
Waleed Al Zarooni, president of real estate brokerage W Capital, expects the real estate market in Dubai to continue to grow for the remainder of the year, with sales reaching between 450 and 500 billion dirhams for the first time ever.
Waleed Al Zarooni, president of W Capital real estate brokerage, expects the real estate market in Dubai for the remainder of the year. The report is a strong positive indicator of the health and prosperity of Dubai's economy and underscores the emirate's position as a leading global center for business, tourism and investment.
