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New Delhi [India], May 21 (ANI): Demonstrating the strength of the property market, a significant USD 10.3 billion in private capital is poised to flow into Dubai's residential real estate sector, according to a report by global property consultancy Knight Frank.
The report, based on insights from 387 high-net-worth individuals (HNWIs) across India, Saudi Arabia, the UK, and East Asia, signals a growing appetite among global investors for Dubai's thriving real estate landscape.
According to the report conducted in partnership with YouGov, Dubai's real estate market continued to expand during 2024, with values and rents climbing to fresh highs and the total value of transactions across all sectors topping USD 207 billion, while demand for homes from the global elite continues to intensify.
Observing the trends, Will McKintosh , Regional Partner, Head of Residential, MENA said, "The depth of demand from these nationalities is also reflective of our own market experience. Indeed, during 2024, Saudi, Indian and British nationals accounted for just over 50 per cent of homes sold by Knight Frank in Dubai."
The 2025 edition of the Destination Dubai report from global property consultancy Knight Frank.
Price growth was led by record residential sales of almost 170,000, totalling USD 100 billion in 2024, and momentum has continued into 2025, with home sales hitting United Arab Emirates Dirham (AED) 100 billion by March 4.
The report also reveals that Dubai was the world's busiest market for sales of over USD 10 million homes for the second consecutive year. The city recorded 435 sales in this exclusive bracket in 2024, almost equalling the number of over USD 10 million home sales in London and New York combined.
A further 111 homes sold for over USD 10 million during the first quarter (Q1), the highest number for any January to March period, the report added.
Dubai's residential market experienced another strong year in 2024, with property values rising by 19.1 per cent to an average of AED 1,685 per square foot (psf), pushing prices to 13.3 per cent above the 2014 peak.
On average, villa sale prices grew by 19.6 per cent in the 12 months to the end of Q1, reaching AED 2,088 psf, reflecting a 107.6 per cent uplift on Q1 2020. This sustained growth illustrates the strong appeal of stand-alone villas, beachfront homes and branded residences that provide instant access to the Dubai lifestyle, the report added. (ANI)