Dubai real estate market showed significant growth in 2024. The year broke several records, including the value of sold properties on both the primary and secondary markets.
Let’s see what Dubai investors earned and how. Once you see it, you might think of becoming one yourself.
What is Resale in Real Estate?
Resale in real estate means selling a property that someone has already owned before. In Dubai, the resale property market is growing fast and helping investors make a lot of money.
People buy properties, hold them for some time, and then sell them for a higher price, earning a profit. While you hold the property, you can earn rental income or live there yourself. When the right time comes, you can sell it for a far higher price than the purchase price.
We’ll crunch some numbers together.
Why Dubai is Great for Real Estate Investors
Dubai is one of the best places for real estate investments because:
- High profits: Many investors are earning big returns on their investments.
- Strong government support: Dubai has clear rules and smart regulations to make the market stable.
- High rental income: Investors can earn steady money from renting out their properties.
- Better infrastructure: Roads, schools, and public spaces keep improving, making properties more valuable.
Big Numbers from Dubai’s Resale Market in 2024
The resale market in Dubai hit impressive numbers in 2024:
- Total resale profits reached Dh59.7 billion (approx. $16.4 billion), which is 32% of Dubai’s all-time high total resale value of Dh188.1 billion.
- Compared to 2023, resale profits were up by 34%. Over the past five years, profits increased by a stunning 1,300%!
Additionally, profits from renting reached nearly Dh41 billion, which is approximately $11.2 billion. So, while you wait for your property to be sold, you can earn rental income as well.
Source: DXB Interact
Where Dubai Investors Made the Most Money
Here are the top areas for capital gains (profit from resales):
- Palm Jumeirah: Investors made the highest profits here, with Dh6.48 billion in capital gains.
- Dubai Marina: Joined the top of the list of a number of resale transactions.
- Jumeirah Village Circle (JVC): Topped the list for ready property sales and came second in resale deals.
Other popular areas included Dubai Hills Estate, Downtown Dubai, and Business Bay.
More Records in 2024
Dubai’s entire real estate market broke records last year:
- Resale transactions increased by 21% in value and 14% in volume, reaching 61,100 deals.
- Apartment sales saw a huge rise of 42%, with 141,168 transactions adding up to Dh260.6 billion.
- Villa sales went up by 21.1%, with 30,938 units sold for Dh164.1 billion.
- Even commercial properties and plots showed growth, with more units sold and higher values.
What Experts Say
Firas Al Msaddi, CEO of fäm Properties, praised Dubai’s real estate success, saying the market’s stability and government policies make it attractive for both local and international investors. He expects even more growth in 2025 as Dubai strengthens its position as a global real estate hub.
With this in mind, you can see why now is the right time to invest in real estate. Join the list of Dubai investors and get your share of this impressive ROI. Glidai Properties is here to guide you on your way. Contact us today to schedule a free consultation with our experts and we’ll find the right property for your budget.