Investors in Dubai real estate notched up record profits of almost AED60 billion from the re-sale market last year.
A report released by fäm Properties today showed the secondary market generated capital gains of AED 59.7 billion in 2024, representing 32% of Dubai’s all-time high total re-sale value of AED 188.1 billion last year.
Underling the soaring value of investment in Dubai real estate and its global appeal, total re-sale profits last year were 34% up on 2023, completing a dramatic 1300% leap over the last five-years.
Data from DXBinteract covering 136 areas across the emirate revealed that the highest amount of capital gain, AED 6.48 billion, was achieved on Palm Jumeirah.
Prominent residential areas like Dubai Marina, Dubai Hills Estate, Downtown Dubai and Business Bay also featured in the top ten for annual capital gain.
So did Jumeirah Village Circle, which was also the top-performing area for ready property developer sales in 2024, and placed second after Dubai Marina in total re-sale transactions.
Firas Al Msaddi, CEO of fäm Properties, said: “The substantial capital gains realized by investors underscores the market’s dynamism and the effectiveness of our regulatory framework, managed by an astute government.
“Our expectation is that these profits will encourage reinvestment and attract new capital, as investors recognize the long-term resilience and potential of our market.
“We commend the Dubai Land Department for its transformative measures last year, and look forward to further advancements in 2025, enhancing Dubai’s global real estate standing.”
Record total re-sale figures for 2024, up 21% in value and rising 14% in volume to 61,100 transactions YoY, reflected buyers shifting to ready homes, investors attracted by high rental yields, and Infrastructure upgrades increasing the appeal of properties.
It was a record-breaking year all-round for Dubai real estate, with annual growth in each property segment, topped by a 42% YoY rise in the overall volume of apartment sales, with 141,168 transactions adding up to AED 260.6 billion.
Villa sales increased by 21.1% to 30,938 units worth AED 164.1 billion, commercial property transactions were up 10.1% in volume to 4,304 units at AED 9.7 billion, while 4,352 plots sold for AED 86.5 billion, a 2.6% increase.
Top 10 areas for capital gain in 2024
Palm Jumeirah 6.48 billion
Dubai Marina 4.26 billion
Dubai Hills Estate 3.61 billion
Al Thanyah Fifth 3.18 billion
Downtown Dubai 3.18 billion
Emirates Living 2.45 billion
Business Bay 2.33 billion
Jumeirah Village Circle 2.20 billion
Al Merkadh 2.09 billion
Wadi Al Safa 5 1.77 billion
