Q2 2024 UAE real estate report by Primo Capital experts
Press Release
UAE’s leading real estate company, Primo Capital Experts has published a thorough study for Q2 2024 that highlights significant market trends and strong growth in the UAE’s real estate market. Based on its findings, Primo Capital has identified important indicators and significant breakthroughs impacting the sector as the region navigates changing economic conditions in all unit categories
Residential Market Overview: The residential market of Dubai saw unheard-of levels of activity in the second quarter of 2024, with overall transaction volumes hitting an all-time high of 35,310 transactions—a significant 20.5% rise year over year. The substantial 23.9% increase in off-plan property transactions coupled with a noticeable 15.2% increase in secondary market transactions were the main drivers behind this surge. This trend in UAE properties underscores the enduring confidence among prospective buyers and catered strong demand in the industry.
The rising trend of property prices is indicative of a dynamic market sentiment. The average cost of a home in Dubai increased by 20.7% year over year, with rises of 20.4% and 22.1% for flats and villas, respectively. This acceleration confirms that, despite wider economic shifts, Dubai remains a top destination for real estate investment worldwide.