The Dubai real estate market is expected to grow by 5–10% in 2024, an expert said.

Significant economic growth in the United Arab Emirates is expected to benefit various sectors, with Dubai’s real estate sector standing out prominently.
According to Basse Kooijman, CEO and asset manager at DHF Capital S.A., recent data shows that investments in Dubai’s real estate market reached an astounding USD 100 billion in 2023, with a projected growth rate of 5–10% in 2024. The UAE’s economy is also on track for a 4.5% growth rate.

Dubai’s real estate boom in 2023
The market experienced remarkable development, firmly establishing itself as an attractive investment hub. In 2023, the real estate market saw an extraordinary surge, with values rising by over 36.7%.
The sector recorded a landmark year with 116,116 real estate transactions worth a total of USD 429.67 billion, while transaction growth climbed by 33.8%.

Kooijman also highlighted the positive outlook for Dubai’s residential real estate market, forecasting a substantial growth rate of around 15% in 2024. He emphasized that the consistent growth of Dubai’s property market offers lucrative opportunities for forward-looking investors who can benefit from capital appreciation in the UAE’s stable and diversified economy.

“Dubai’s real estate landscape represents a unique and attractive opportunity for those seeking more investment avenues in property,” Kooijman said.

One of the main advantages of investing in Dubai’s real estate market is the potential for high rental income. The city offers impressive returns on investment, with annual yields of up to 10%, he added. This surpasses rates seen in many other major markets such as New York or London.

Kooijman also noted that the ability to purchase properties at reasonable prices and then rent them out at high annual yields makes Dubai an ideal location for investors aiming to maximize returns, with profit margins ranging from 5% to 10%.

Source: Arabian Business