In Dubai, UAE, as off-plan sales continue to dominate the real estate market, the emergence of three new master communities in 2024 marks a significant expansion phase for the emirate. Key indicators reveal a 0.83% rise in prices in February, alongside a remarkable 30.4% surge in sales transaction volumes. Mid-tier price points, notably Dubai Maritime City, are gaining market share. Despite a slight decline in mortgage activity, loans for new purchases are strengthening, indicating enduring confidence in Dubai’s property market. Off-plan launches remain robust, with developers preparing for future developments.
‘The off-plan segment continues to drive Dubai’s real estate market, with new launches maintaining momentum. The announcement of three new master communities underscores the enduring appeal of Dubai’s property market for investors and end-users.
Industry experts express optimism for sustained growth in property values, albeit cautioning against potential fluctuations following a hyper-supply phase. Despite concerns, absorption rates remain strong, with end-users and rental investors swiftly acquiring newly launched units. Attention to key indicators, including monthly sales transaction volumes and developer incentives, will be critical in the coming months.
