- Dubai real estate deals rose 57% in 2023 and property sales surpassed AED 400 billion
- Dubai property prices have skyrocketed 225% since the pandemic lows in late 2020
- Dubai’s centimillionaire population is on pace to grow by almost 80% through 2033
Unique Properties unveils Luxury Market Outlook for 2024 after Dubai shatters previous forecasts by 25%
Dubai, UAE: Unique Properties, a Dubai-based leading real estate agency and award-winning broker, cites that the emirate is poised to continue attracting overseas investors despite luxury prices rising significantly over recent years; real estate deals in Dubai surged by 57% in 2023 with the cosmopolitan city accounting for 52.1% of the total value of real estate deals that were seen across all GCC countries.
According to the Dubai Land Department (DLD), property sales in Dubai last year surpassed AED 40o billion via 129,000 deals. This progress reflects a notable 51% increase in value and a more than 32% rise in the number of transactions when compared to the AED 265 billion that was recorded in 2022. Furthermore, this progress has firmly positioned the UAE as the most popular GCC country for real estate investment in 2024.
Arash Jalili, Founder and CEO of Unique Properties, commented: “While demand for luxury real estate remains high in major markets like New York and London, Dubai has definitively solidified its position as a high-value market, particularly, post-pandemic. Frank Knight data shows that the city’s property prices have risen by 225% since late 2020 and all signs indicate that the emirate will maintain its momentum in the year ahead – if not outdo itself once again.”
In early 2023, it was forecasted that Dubai’s real estate market would witness AED 300 billion in sales by the year’s end. The emirate has since shattered that projection by about 25% while its centimillionaire population, those with a net worth of $100 million-plus, is now expected to balloon by nearly 80% through 2033. This will reflect the fastest growth rate in the world to further elevate the world-leading luxury real estate market of Dubai.
After welcoming nearly 10,000 high-net-worth individuals (HNWIs) over the past 24 months, Dubai is forecasted to see further growth within this demographic in 2024 due to factors including its prime location, streamlined processes, and tax-free policies. Unique Properties has been nurturing the country’s real estate growth for the past 15 years by facilitating several transactions across Dubai’s residential off-plan segment. The full-service agency also facilitates resale property, sales and commercial, and rental transactions with its international expert teams and extensive market knowledge.
About Unique Properties:
Established in 2008, Unique Properties, one of Dubai’s leading real estate agencies is headquartered in Dubai, UAE. As a multi-award-winning real estate company, it is one of the most reputable in the region. Founded by Arash Jalili, Unique Properties offers various services, including a consortium of premium hand-picked, off-plan projects and ready properties for sale and leasing. In 2022, Unique Properties contributed 2% to the total “off-plan” sales volume of Dubai and around 1% to the overall real estate sales in Dubai. Through its multilingual and experienced consultants, Unique Properties provides reliable and exceptionally tailored real estate investment solutions to clients. Learn more about Unique Properties at https://www.uniqueproperties.ae/en/
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E-mail: uniqueproperties@atteline.com
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