The Dubai real estate market achieved a total sales value of AED 114 billion in the first quarter, up by 29% on the same period last year, according to the Dubai Land Department (DLD). It was accompanied by a 23% rise in transaction volumes to 42,269 deals.

According to Ray Verma, luxury broker at Eden Realty UAE, a key highlight this quarter is the growing preference for homeownership, especially in villas and townhouses, which experienced a 65% year-on-year increase in sales. He says this trend represents strong investor confidence and a rising demand for long-term residential properties in the emirate.

Off-plan transactions jumped to 24,920, up from 20,006 in Q1 2024, driven by flexible payment options and expectations of future price appreciation. The ready property segment also performed strongly, with transaction values increasing from AED 43.9 billion to AED 60.2 billion year-on-year. 

Market’s upward trajectory

Luxury-branded residences continue to attract high-net-worth buyers, commanding premium prices, he says. Notable new projects include Majid Al Futtaim’s AED 1.57 billion Serenity Mansions development and the Heights Tower in DIFC, which will open for sales on April 16.  

Looking ahead, the collaboration between DLD and VARA to integrate property tokenisation signals a tech-forward approach, enhancing transparency and efficiency, according to Verma. Furthermore, the anticipated delivery of 72,365 residential units in 2025 is expected to sustain the market’s upward trajectory.

“With property prices projected to rise by 5-10% this year, Dubai’s real estate market remains a beacon of opportunity for investors and homebuyers alike,” says Verma. “The combination of strategic developments, evolving buyer preferences, and a strong economic backdrop ensures that Dubai will maintain its status as a leading global real estate destination.”