The News
Dubai’s property sales surged nearly 20% in 2024, with transactions hitting a record as the city attracts ever-more residents and investors.
Almost $207 billion in real estate was traded last year, according to Dubai Land Department data. Dubai — home to around 4 million people — has benefited from the introduction of new resident visas and reforms that have made it more appealing to live and work.
The city also remains a bargain compared to London and New York. Prices and transactions are expected to rise again this year, but at a slower pace: The central bank has become stricter in allowing certain fees to be included in mortgage financing, which will force buyers to come up with more cash as down payments, potentially slowing price gains.