Investors in Dubai real estate notched up record profits of almost AED60 billion ($16.34 billion) from the re-sale market last year, according to a report.

 

The report by fäm Properties showed the secondary market generated capital gains of AED59.7 billion in 2024, representing 32 per cent of Dubai’s all-time high total re-sale value of AED188.1 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 per cent up on 2023, completing a dramatic 1300 per cent leap over the last five years.

 

Data from DXBinteract covering 136 areas across the emirate revealed that the highest amount of capital gain, AED6.48 billion, was achieved on Palm Jumeirah, the report said. 

 

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 realised 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 per cent in value and rising 14 per cent 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 AED260.6 billion, the report said.

 

Villa sales increased by 21.1 per cent to 30,938 units worth AED164.1 billion, commercial property transactions were up 10.1 per cent in volume to 4,304 units at AED9.7 billion, while 4,352 plots sold for AED86.5 billion, a 2.6 per cent increase. – TradeArabia News Service