Property prices in the UAE in 2024

Property prices in the UAE are expected to continue rising in 2024 amid higher demand.

According to a consulting group, ValuStrat, average residential prices:

– In Dubai rose by 5% to 7%

– In Abu Dhabi rose by 3% to 5%

In the next 3-4 months, the market will continue to be strong in terms of:

• Transactional Activity
• Price Appreciation
• Rental Increases

New units are expected in the market next year, but demand will outstrip supply, supporting prices. Will be ready for delivery:

– 120,000 units in Dubai in the next 5-6 years with 20,000 to 30,000 units a year

– 5,000 units in Abu Dhabi in 2024

Largest investors according to the developer, Sobha Realty:

• India
• China
• UK
• CIS (Commonwealth of Independent States)
• Another European Countries

Expected investments from Latin America, Mexico, and Canada will help grow the demand further.

This year, Sobha Realty has announced the start of sales of apartments at the tower, 340 Riverside Crescent, in its master development in Dubai, Sobha Hartland II