Investment inflows record massive surge
DUBAI: Springfield Properties, a leading real estate brokerage in Dubai, unveils its Quarter 1, 2024 Market Insights Report, offering an in-depth analysis of the trends and future outlook of Dubai’s vibrant residential real estate market.
Farooq Syed, CEO of Springfield Properties, commented, “The first quarter of 2024 witnessed a significant milestone in Dubai’s real estate landscape, marked by a notable surge in sales. This surge reflects the robust investor confidence and market liquidity vital for sustaining growth and competitiveness. Our report highlights a growing demand for off-plan properties, signalling a strategic shift in investment preferences and highlighting the sector’s potential for capital appreciation and yield generation.”
Building upon the record-breaking achievements of 2023, Dubai’s residential market continued its upward trajectory in Q1 2024, with an impressive 37,134 transactions totalling $109.8 billion.
The report unveils a remarkable 55% surge in investment inflows, with 42% of new investors hailing from international markets. This trend is expected to escalate following the announcement that the UAE government is considering waiving the Dh1 million ($272,294) minimum down payment requirement for golden visa eligibility through real estate investment. Additionally, a projected 24.6 percent increase in high-net-worth individuals by 2025 is anticipated to propel the ultra-luxury segment to unprecedented heights.
The first quarter of 2024 demonstrates a sustained upsurge in Dubai’s real estate market, underscoring its robustness and diverse appeal to investors and buyers worldwide.
During this quarter, the balance between offplan and secondary market sales underscores a mature and diverse real estate landscape. This equilibrium reflects investor confidence and market stability, showcasing the resilience of the property sector.