Dubai's Off-Plan Property Market Achieves Unprecedented Growth with Record Transactions in Q2 2024

Dubai’s off-plan property market set a new record in Q2 2024, with over 25,466 transactions worth more than AED 52 billion, marking an 81% increase from the previous year, according to property data. Villa transactions increased by 44% in volume and 76% in value, while off-plan apartments experienced an 86% rise.

This surge is attributed to Dubai’s strong appeal and a shift towards off-plan projects amid numerous new launches. With over 70% of new developments situated in freehold areas, Dubai is at the forefront of future residential supply. A shortage of ready-to-move-in inventory has driven up the demand for off-plan properties. In 2024, developers introduced more than 200 projects, adding nearly 50,000 units to the market. The luxury off-plan segment remains robust, especially in areas like Palm Jumeirah.