Best Areas to Invest in as Off-Plan Property Sales Boom in Dubai

The Dubai real estate market is experiencing a surge in off-plan property sales, making it an attractive time for investors to explore opportunities. According to property specialist Betterhomes, residential off-plan sales accounted for 58.3% of total sales volume in January 2024, while transferred title deeds made up the remaining 41.7%.

One area that has seen notable growth is Palm Jumeirah, with villas experiencing a 2.85% increase in sales prices and apartments seeing a 4% rise. However, various other areas across the city have also caught the attention of investors and end-users.

Dubai’s quality of life, stringent safety standards, and employment opportunities have made it an attractive destination for property investment. The real estate market in Dubai reached an all-time record of $9.6 billion in January 2024, indicating remarkable sales growth.

Prime investment zones such as Downtown, District 1 MBR, and Dubai Creek Harbour have witnessed unprecedented demand, making them ideal areas for investment. Dubai’s status as a magnet for wealth migration has secured the UAE’s second position globally, surpassing even the United States.

Properties purchased during the pandemic have seen significant increases in value, ranging from a conservative estimate of 50% to as high as 200% in certain areas. This indicates high returns for investors who bought during that time.

Based on BetterHomes’ analysis, several key investment areas have been identified for 2024. Jumeirah Village Circle, Maritime City, and Downtown are prime locations for apartments, while The Valley, Dubai South, and California Village stand out for villas and townhouses.

Toni Abou Jaoude, Sales Manager at Betterhomes, emphasizes that Dubai’s real estate market offers an exceptional environment for investment success and comfortable retirement. The shift from tenants to homeowners and the preference for property investment further enhance Dubai’s real estate market appeal.