The secondary property market in Dubai generated capital gains of Dh59.7 billion in 2024, accounting for 32 per cent of the city’s record total re-sale value of Dh188.1 billion last year, according to a report.
Data from fäm Properties revealed that re-sale profits in 2024 were 34 per cent higher than in 2023, marking an impressive 1300 per cent growth over the past five years.
DXBinteract data from 136 areas in Dubai showed Palm Jumeirah recorded the highest capital gain, amounting to Dh6.48 billion. Other top-performing residential areas included Dubai Marina, Dubai Hills Estate, Downtown Dubai, and Business Bay.
Jumeirah Village Circle also ranked among the top ten for annual capital gains, leading ready property developer sales in 2024 and securing the second spot after Dubai Marina for total re-sale transactions.
Firas Al Msaddi, CEO of fäm Properties, commented, “The significant capital gains achieved by investors highlight the market’s vibrancy and the efficiency of our regulatory framework under the guidance of an astute government. We anticipate these profits will drive reinvestment and attract fresh capital, as investors acknowledge the market’s long-term resilience and potential. We applaud the Dubai Land Department for its transformative measures last year and look forward to further progress in 2025 to elevate Dubai’s global real estate profile.”
Dubai’s total re-sale figures for 2024 set a new record, with a 21 per cent increase in value and a 14 per cent rise in transaction volume, reaching 61,100 transactions year-on-year. This growth reflected a shift towards ready homes, high rental yield investments, and improved infrastructure attracting buyers.
The year was exceptional for Dubai real estate, with growth across all segments. Apartment sales rose 42 per cent year-on-year, totaling 141,168 transactions worth Dh260.6 billion. Villa sales increased by 21.1 per cent to 30,938 units valued at Dh164.1 billion. Commercial property transactions grew 10.1 per cent in volume to 4,304 units, amounting to Dh9.7 billion. Additionally, 4,352 plots were sold for Dh86.5 billion, reflecting a 2.6 per cent rise.
