According to ValuStrat, the average price of ready residential transactions in the emirate of Dubai in the United Arab Emirates (UAE) reached around 1.3 thousand AED per square foot, up from around 1.1 thousand in the previous year.

According to ValuStrat, the average residential prices in Dubai reached around 1,159 United Arab Emirates dirhams (AED) in December 2023, rising from around 894 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 25 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 72 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 45 thousand new apartments and seven thousand new villas. These additions contribute to the existing supply of 743 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 2.5 million United Arab Emirates dirhams. This represented a 5.7 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.

The report covers UAE Property Market Trends and is segmented by Type (Villas/Landed Houses and Condominiums/Apartments) and Key Cities (Dubai, Abu Dhabi and Sharjah).

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.

In the fourth quarter of 2024, the Bulgaria, Spain, and Portugal registered the highest house price increase in real terms (adjusted for inflation). In Bulgaria, house prices outgrew inflation by nearly ** percent. When comparing the nominal price change, which does not take inflation into consideration, the average house price growth was even higher.

Meanwhile, many countries experienced declining prices, with Turkey recording the biggest decline, at ** percent. That has to do with a broader trend of a slowing global housing market.

Turkey experienced the highest annual change in house prices in 2024, followed by Bulgaria and Russia. In the fourth quarter of the year, the nominal house price in Turkey grew by **** percent, while in Bulgaria and Russia, the increase was ** and ** percent, respectively. Meanwhile, many countries saw prices fall throughout the year. That has to do with an overall cooling of the global housing market that started in 2022. When accounting for inflation, house price growth was slower, and even more countries saw the market shrink.

According to ValuStrat, the average price of off-plan residential transactions in the emirate of Dubai in the United Arab Emirates (UAE) reached around 1,807 AED per square foot, up from around 1,506 in the previous year.

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 third quarter of 2022, Palm Jumeirah Villas had the biggest price increase of 4,831 Emirati dirhams per square feet, which was more than twice the next closet price increase of 2,159 AED in Downtown Dubai. Dubai Creek Harbour had the biggest price drop of 1,682 AED. During this period, the average price per square feet of residential real estate increased in all areas of Dubai except for five locations.