According to ValuStrat, the average residential prices in Dubai reached around ***** United Arab Emirates dirhams (AED) in December 2023, rising from around *** AED in 2020. Real estate market in Dubai Despite the impact of the global COVID-19 pandemic on the real estate market, Dubai's real estate sector continues to show resilience and remains a lucrative investment option. In the first quarter of 2021, the real estate transactions in Dubai amounted to approximately ** billion U.S. dollars in value. With its emphasis goal of transforming into a high-end tourist destination, Dubai has become an appealing choice for real estate investors. In 2019, investment villas made up most urban buildings in the emirate, with around ** thousand units. Residential market outlook The residential market in Dubai has experienced substantial growth in recent years. In 2022, it was projected to witness the addition of approximately ** thousand new apartments and ***** thousand new villas. These additions contribute to the existing supply of *** thousand residential units in the emirate for that year. According to the same source, in December 2022, the capital prices of residential apartments in Jumeirah Beach Residence, Dubai, stood at approximately *** million United Arab Emirates dirhams. This represented a *** percent growth in capital values compared to the prior year. With its strong market presence and attractive investment opportunities, Dubai's residential market remains a key player in the region.

According to ValuStrat, the average price of ready residential transactions in the emirate of Dubai in the United Arab Emirates (UAE) reached around *** thousand AED per square foot, up from around *** thousand in the previous year.

According to ValuStrat, the average price of off-plan residential transactions in the emirate of Dubai in the United Arab Emirates (UAE) reached around ***** AED per square foot, up from around ***** in the previous year.

In the third quarter of 2022, Palm Jumeirah Villas had the biggest price increase of ***** Emirati dirhams per square feet, which was more than twice the next closet price increase of ***** AED in Downtown Dubai. Dubai Creek Harbour had the biggest price drop of ***** AED. During this period, the average price per square feet of residential real estate increased in all areas of Dubai except for five locations.

The UAE Residential Real Estate Market is Segmented by Property Type (Apartments & Condominiums and Villas & Landed Houses), Price Band (Affordable, Mid-Market and Luxury), Mode of Sale (Primary and Secondary), Business Model (Sales and Rental) and Emirates (Dubai, Abu Dhabi, Sharjah, Ras Al Khaimah and Rest of UAE). The Market Forecasts are Provided in Terms of Value (USD).

According to ValuStrat, the average price of office units in the emirate of Dubai in the United Arab Emirates (UAE) reached around *** AED per square foot, up from around *** in the previous year.

The year-on-year average rental price of residential properties in the emirate of Dubai in the United Arab Emirates rose by 21 percent as of March 2024. Abu Dhabi saw rental prices increase at around four percent.

As of the third quarter of 2024, there were roughly 33 thousand residential off-plan transactions in the Emirate of Dubai in the United Emirates The biggest increase in transactions was seen between the third quarters of 2023 and 2024 when the number of transactions roughly doubled. UAE Residential Real Estate Market The United Arab Emirates has a thriving real estate market. In Dubai alone, the sector was forecast to reach a market value of approximately 387 billion U.S. dollars in 2024. Residential real estate transactions rose to an all-time high of 41.1 billion U.S. dollars, of which 60 percent were off-plan transactions. The average price of ready residential homes has witnessed a consistent rise in prices over the years, which has made off-plan residential transactions a viable entry point for many interested buyers. Rising Real Estate Costs Push Buyers to Ajman & Sharjah Dubai’s neighbor Abu Dhabi, which had four times fewer new real estate units planned, also saw growth in the sector with residential ready home transactions jumping 51.1 percent during this period. While major centers like Abu Dhabi and Dubai are the primary choices for many buyers, the high costs of ready to move-in properties and the long waiting times of off-plan projects have forced some to look at emirates such as Ajman and Sharjah. Properties in these emirates are more financially accessible and attractive destinations for potential early investors who expect a significant appreciation in real estate values in the coming years.

The year-on-year average sale price of residential properties in the emirate of Dubai in the United Arab Emirates rose by 21 percent as of March 2024. Abu Dhabi saw sales prices increase at around seven percent.

In the first quarter of 2024, warehouse rents throughout the emirate of Dubai in the United Arab Emirates went up in every urban sector. Al Quoz had by far the highest rental rates and witnessed the biggest increase in rent over the previous year in the emirate at 590 Emirati dirhams per square meter per year. The industrial real estate market continues to experience growth in the emirates, with projects such as Bharat Mart with an area of more than 100 thousand square meters expected to open by 2026 in JAFZA.