Experts Forecast 5% Growth for Dubai Real Estate Market in 2024

Dubai’s real estate market continues to attract investors seeking lucrative returns and portfolio diversification, maintaining its robust growth trajectory.

Recent data reveals that investment in Dubai’s real estate market surged to an impressive $100 billion in 2023, with a projected 5% growth anticipated for 2024, as stated by Bas Kooijman, CEO and Asset Manager of DHF Capital S.A. The United Arab Emirates’ economy is also poised to grow by 4.5%.

The UAE’s anticipated economic expansion is expected to benefit various industries, with Dubai’s real estate sector leading the charge.

Dubai witnessed a significant real estate boom in 2023, marked by remarkable growth, reinforcing its status as an investment hotspot. Real estate transactions soared, with values increasing by over 36.7%.

With a record-breaking 116,116 real estate transactions, totaling $429.67 billion, the industry experienced unprecedented growth, driven by a transactional surge of 33.8%.

Kooijman emphasized the optimistic outlook for Dubai’s residential real estate market, projecting a substantial growth rate of around 15% by 2024.

He underscored the potential for wise investors to capitalize on capital appreciation within the stable and diverse economy of the United Arab Emirates, thanks to Dubai’s continuously expanding real estate market.

“Dubai’s real estate landscape offers a distinct and compelling opportunity for investors seeking diverse real estate investment avenues,” Kooijman remarked.

A notable advantage of investing in Dubai’s real estate market is the potential for significant rental income. Kooijman noted that the city offers impressive return on investment, with annual yields reaching up to 10%.

In comparison, rental yields in many other major markets such as New York and London are lower.

Investors looking to optimize their returns may find Dubai an attractive destination due to the availability of competitively priced properties that can be leased out with high annual yields, offering profit margins ranging from 5 to 9%.

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