The Dubai residential property market remains robust with demand for properties increasing despite a rise in new launches over the past few years. New launches have increased in H1 2024 compared to 2023 with off-plan property sales reaching $34.3 billion during the same period.

The Dubai real estate sector is growing driven by high demand from local and international buyers. The number of residents in Dubai increased to 3.7 million by the end of 2023 and is anticipated to rise to 4 million by 2026 due to an influx of expats. As rents continue to rise, more people are choosing to buy rather than rent.

The Golden Visa has provided stability for residents and expats and off-plan sales in H1 2024 are twice as high as buyers are willing to purchase per square foot for new developments.

Residential supply is set to increase by 182,000 units by 2026 which is expected to help balance the market by 2026. Property prices are likely to remain stable over the next 18 months but may decline due to the increase in supply. The market's resilience is also supported by strong players with solid revenue streams and liquidity buffers.