Dubai Real Estate Market: Best Selling Areas In 2024

Dubai's real estate market embodies trend, originality and breathtaking architecture. As 2024 approaches, it will be important for inhabitants & potential investors to learn about the important details of the rising real estate market. The real estate market in Dubai is vibrant and constantly evolving. The surroundings are shaped by an extensive range of trends and influences, from governmental initiatives and economic situations to lifestyle choices. Our blog will cover the top 5 selling areas of Dubai, featuring some of the most desirable neighbourhoods in the city.

Best Selling Areas Based on Number of Real Estate Transactions

1. Jumeirah Village Circle (JVC)

Benefits: Jumeirah Village Circle has established itself as the most suitable choice for living and investing in Dubai. Packed with an endless range of completed and off-plan projects, the community has garnered traction for its prime location and budget-friendly property rates. Its well-orientation of educational and healthcare facilities creates a family-centric ecosystem. Moreover, the mid-tier rental market makes JVC a dominant choice for tenants while promising healthy returns to investors.

No. of Transactions: The sales transactions in JVC are equal to 16,749, accounting for AED 16.92 billion worth of sales. Most sales are driven by the apartment segment, while townhouses and villas follow the lead.

2. Business Bay

Benefits:Business Bay offers a wide range of real estate choices, from opulent penthouses to elegant high-rise apartments and this location hosts iconic structures like the Burj Khalifa and Dubai Mall. This area is a popular choice as this provides a vibrant lifestyle and convenient access to important attractions.

No. of Transactions: Business Bay has 10,189 transactions. Being a desirable choice for business investors, this central business district also appeals to individuals searching for elegant and contemporary homes in the centre of the city. The total transaction value of this area is DH 23.32 billion.

• Discover:-Off-Plan Properties in Business Bay

3. Al Barsha South Fourth

Benefits: A booming tourism destination and real estate area in Dubai. This hidden multi-purpose gem is a famous tourism and investment location given to its amazing architecture, affluent lifestyle and fantastic possibilities for business.

No. of Transactions: With 12,878 real estate transactions in Al Barsha South 4 in 2024, Al Barsha invaded the lead position, contributing DHs 13.5 billion. Due to its advantageous location, various affordable housing alternatives and first-rate connections, the area is popular amongst residents and investors.

4. Damac Hills 2

Benefits: Damac Hills 2 has also remained a popular selling area in 2024 for its tranquil living ecosystem. Tucked away from the hustles and bustles of the city, this exquisite district presents a series of villas, apartments, and townhouses. Moreover, a lineup of well-oriented amenities packs the community, with lush emerald spaces spanning across, making it a perfect self-reliant and eco-friendly neighborhood. Additionally, the property prices for larger units are noted for their affordability, demonstrating a robust demand and fostering potential for rental income.

No. of Transactions: With approximately 5,774 tractions, Damac Hills 2 has brought itself among the best selling areas in 2024. The profits are worth AED 6.18 billion, with AED 944.98 million contributed from the apartment segment, AED 4.29 million from the townhouse series, and AED 5.23 billion from the villa segment.

5. Mohammed Bin Rashid – MBR City

Benefits: Mohammed Bin Rashid City is a pioneering hub for modern and sophisticated residency. The area ranks for its best selling in 2024, characterized by an exclusive launch of apartments, artistically-crafted villas, and state-of-the-art facilities. Apart from adjacency to Business Bay and Downtown Dubai, MBR City’s community design focuses on extensive greenery and open spaces. Its balanced lifestyle approach has fostered desirability among affluent real estate buyers.

No. of Transactions: The sales activity in MBR City has remained strong, reporting 6,552 transactions in 2024. These transactions are worth AED 18.41 billion and indicate highest sales from the apartment segment.

6. Dubai Hills Estate

Benefits: Dubai Hills Estate has solidified its reputation as an exclusive abode for luxury apartments and high-end villas. The district is embraced in green spaces, a palatial 18-hole golf championship courses, and a range of upscale facilities. Moreover, its prime placement between Downtown Dubai and Dubai Marina adds another advantage for prospective buyers, with quick access shared across recreation and business hubs. The captivating features and modern architectural developments have made it a sought-after destination in the city’s real estate landscape.

No. of Transactions: The number of transactions in Dubai Hills Estate, according to the 2024 report, equals 7,081. Its transaction value stood at AED 22.8 billion, showcasing soaring demand for its apartments as well as villas.

7. The Palm Jumeirah

Benefits:Palm Jumeirah real estate promises lucrative returns with its luxury properties, stunning views of the Arabian Gulf and high-end lifestyle. However, potential investors should carefully consider issues such as location and risk.

No. of Transactions: This upscale neighbourhood persists in its standing as a real estate gem, ranking second in the value of transactions for first sales at AED 8.44 billion. This man-made island has become a representation of Dubai's richness, providing a lifestyle associated with luxury, relaxation and magnificent ocean views.

• Discover:-Off-Plan Properties in Palm Jumeirah

Number of Transactions of Other Growing Areas in Dubai

1. Wadi Al Safa 5

Benefits: Wadi Al Safa 5, an emerging area with best-selling values recorded in 2024, features a dynamic blend of apartments and villas. The district allows investment groups for a potential purchase, aligning with diverse preferences and budget-conscious buyers. It maintains a peaceful ecosystem while guaranteeing connectivity to other parts of the city.

No. of Transactions: The neighborhood recorded 2,125 transactions, which equaled to AED 5.9 billion, indicating its soaring position among growing areas in Dubai.

2. Jebel Ali 1

Benefits: Another rapidly evolving district, Jebel Ali 1, enjoys a top-notch reputation for its strategic location and adjacency to the Jebel Ali Port and JAFZA. The area is reportedly counted among the best selling areas in 2024, thanks to a stream of professionals who make property investment in the area considerable for investors. Moreover, the community’s property options are split into commercial and residential real estate. Besides investment and business opportunities, the community is smoothly connected with other key areas via major road passageways.

No. of Transactions: A total of 4,335 transactions have been recorded in the year 2024, with values hitting AED 6.7 billion, according to primary market reports. Jebel Ali 1 has been ranked 9th among the top-selling areas in the primary market and 7th among the best-selling areas in the secondary market. The latter market recorded 2,364 transactions, with values hitting AED 5.0 billion.

3. Bukadra

Benefits: Bukadra is a growing area in Dubai, though it occupies a significant position in the city’s property market. Its upward trajectory reflects the strong demand from investors, driving its performance in the primary market.

No. of Transactions: In the primary market, Bukadra remained on the list of the top-selling areas in 2024, with sales accounting for AED 9.9 billion, demonstrated by 4,215 transactions.

4. Madinat Al Mataar

Benefits: The area is growing its popularity among investors and buyers for its prime location and diverse property market, including both commercial spaces and residential units. Moreover, the infrastructure is experiencing consistent evolution, making it an appealing area for prospective buyers and homeowners. The arterial routes seamlessly connect the area across the city, with a master plan including state-of-the-art amenities.

No. of Transactions: Around 6,254 transactions were recorded in 2024, with values hitting AED 17 billion in the primary market. Madinat Al Mataar’s strong performance underscores its surging demand among investors and homeowners.

Conclusion

As Dubai's real estate market prepares for 2025, the top-selling areas provide a varied range of options. Business Bay is a bustling area with the most famous landmarks, attracting business investors and those seeking a vibrant city lifestyle. Al Barsha South Fourth is emerging as a multifunctional treasure of Dubai, drawing people with its stunning architecture and strategic location. The Palm Jumeirah retains its charm through premium real estate and breathtaking views, whereas Dubai Creek Harbour symbolises harmonious urban living. Sobha Hartland, located in Mohammed Bin Rashid City, provides a beautiful blend of beachfront apartments. Overall, Dubai's real estate market offers an array of choices that accommodate a wide range of lifestyles and financial objectives.