Dubai's real estate market has achieved absolute record growth in the first half of 2024, despite supply constraints.
Here are the latest figures, which are dry statistics but speak for themselves.
It is important to add that the market figures are not based on the marketing ploys of developers, but on figures recorded and closely monitored in the Emirates Real Estate Land Registry.
- GDP growth is expected to reach 3.8% by 2024, which is minimally below the 3.9% growth forecast,
- the rental market experienced brutal growth in the 2nd quarter of 2024, with the number of rentals recorded increasing by 38.4% year-on-year to 41,495 rented properties,
- yields are highly dependent on the location of the property within Dubai, with registered figures ranging from 9.1% to 14.5%,
- the residential market is growing significantly, with prices up 21.3% this year compared to 20.1% last year,
- Tourism statistics are also on the rise,
- rental statistics are up in both Abu Dhabi and Dubai, with average rents in Abu Dhabi up 3.6% year-on-year in Q2 2024 and 6% in Dubai.
