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 off-plan 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.
Syed further emphasises, “Dubai’s strategic focus on regulatory frameworks and ongoing improvements in infrastructure have substantially bolstered the city’s appeal. When combined with our market insights, these elements reaffirm Dubai’s position as a prime destination for investors in search of enduring value and opportunities for growth.”
With a dedicated team of over 140 real estate professionals, Springfield Properties remains at the forefront of Dubai’s real estate industry.
For more detailed insights and the full report, visit https://springfieldproperties.ae/wp-content/uploads/2024/04/SFRE-Q1-2024-Report_compressed.pdf
