

Founder I Sales Director
The Dubai real estate market recorded a stunning dive in December 2024, as significant data showed strong development. Sales volume increased by 37.3% over last year, totalling a remarkable 15,130 sales. The positive activity ended in a 5.1% rise in sales value, attracting AED 42.7 billion.
Key Market Highlights
Sales Volume:
- Total Transactions: 15,130 (+37.3% vs. Dec 2023)
- Sales Value: AED 42.7B (+5.1% vs. Dec 2023)
Breakdown by Property Type:
Apartments:
- Transactions: 11,615 (+40% vs. Dec 2023)
- Sales Value: AED 20.9B
Villas:
- Transactions: 2,441 (+23.5% vs. Dec 2023)
- Sales Value: AED 11.4B
Commercial Properties:
- Transactions: 334 (-5.1% vs. Dec 2023)
- Sales Value: AED 905.6M
Plots:
- Transactions: 650 (+66.2% vs. Dec 2023)
- Sales Value: AED 9.3B
Price Per Square Foot:
The average price per square foot reached AED 1,565, marking an 8.6% increase compared to December 2023, indicating growing property valuations across key areas.
Property Prices
Overall Trends:
Price fluctuations across Dubai are attributed to varying sales concentrations in different areas compared to last year. For example, sales in May 2021 were focused on JLT, JVC, and Arjan, whereas in 2022, Business Bay and Downtown dominated.
Category-Wise Prices:
- Apartments: AED 1.2M (-9.1% vs. Dec 2023)
- Villas: AED 3M (+0.6% vs. Dec 2023)
- Commercial Properties: AED 1.7M (+47.1% vs. Dec 2023)
- Plots: AED 3.1M (-60.7% vs. Dec 2023)
Rental Market Trends
The rental market remained vibrant, reflecting a mix of upward and downward trends:
- Apartments: AED 80K/year (+17.6% vs. Dec 2023)
- Villas: AED 175K/year (+9.4% vs. Dec 2023)
- Commercial Properties: AED 65K/year (-25.1% vs. Dec 2023)
Property Sales by Category
- Apartments: 49%
- Villas: 27%
- Plots: 22%
- Commercial Properties: 2%
Top 5 Performing Areas
In December 2024, the following areas experienced higher demand:
- Jumeirah Village Circle (JVC)
- Business Bay
- Wadi Al Safa 5
- Dubai South
- Dubai Marina
These areas are distinguished for their excellent location, modern amenities, and outstanding developments, which attracted both end users and investors.
Sales Volume by Price Range
- Below AED 1M: 30%
- AED 1M – AED 2M: 7%
- AED 2M – AED 3M: 13%
- AED 3M – AED 5M: 17%
- Above AED 5M: 33%
Yearly Trends
Monthly Sales Volume in 2024
Fluctuations ranged from 12K to 20K transactions monthly.
December Transactions Over Years
- Sales Volume: 3K (2014) to 15K (2024)
- Sales Value: AED 5B (2014) to AED 42.7B (2024)
1st Sale vs. Resale Market
- Sales Volume: 1st Sale (33%), Resale (67%)
- Sales Value: 1st Sale (42%), Resale (58%)
Mortgage Transactions
Mortgage activity in December 2024 exhibited significant growth, showcasing the increasing reliance on financing options for real estate purchases:
- Total Mortgage Transactions: 3,742 (+44.5% vs. Dec 2023)
- Total Mortgage Value: AED 24.9 billion (+132.5% vs. Dec 2023)
The surprising rise in mortgage values signals greater confidence among buyers and lenders alike, mainly in high-value properties and prominent locations. This trend reflects Dubai’s ability to offer flexible financial solutions that cater to a diverse pool of buyers, from first-time homeowners to indulgence investors.
Conclusion
In December 2024, Dubai’s real estate market is strong and boosting, facilitated by high demand for various property types, and substantial investments in luxury and off-plan projects. With dynamic trends across locations and property kinds, stakeholders are encouraged to use interactive reporting tools to gain thorough, useful insight.