Whether you’re a prospective tenant, a tourist considering a long-term stay in Dubai, or a property owner exploring options to rent out your property, this guide is to help you make informed decisions in Dubai’s dynamic real estate market. We will get you into the key trends defining the Dubai real estate market in 2024.
Like a phoenix rising from the ashes, Dubai’s real estate market has rebounded strongly after a challenging period, driven by robust demand, strategic government initiatives, and mega-events like Expo 2020. The market offers a spectrum of opportunities for tenants, owners, and tourists.
The Rise of Affordable Luxury
Gone are the days when luxury properties in Dubai were accessible only to a select few. A defining trend in 2024 is the rise of affordable luxury. And we Like Home are proud to introduce you to our Signature collections, the affordable luxury rentals. Like Home’s Signature collections are offering superior quality properties with high-end amenities at more competitive rates has opened up new possibilities for tenants and property owners alike.
Due to the influx of tourists and the popularity of business travel, short-term rentals in Dubai are skyrocketing. Like Home is one such short-term rentals that offer a flexible, often cheaper alternative to hotels. Like home is becoming a preferred choice for individual tourists and corporate clients.
Dubai’s real estate market in 2024 isn’t just about growth and profitability. It’s also increasingly focusing on sustainable practices.
What to expect in the Dubai real estate market in 2024?
15% Growth in Dubai real estate is expected in 2024
The Knight Frank project report says, there will be 15% significant growth in 2024. Dubai’s property marketis set for a remarkable upward trend, as this forecast clearly shows. The city will continue to prosper, making it an excellent choice for those seeking long-term investment opportunities.
46.7% increase in Real Estate transaction
According to data from DXB Interact, real estate transactions in the first half of 2023 witnessed an impressive 46.7 percent increase compared to the previous year and are expected to have rapid growth in 2024 as well.
Embrace the future with Dubai real estate
To sum up, the Dubai real estate market in 2024 is shaping up to offer exciting opportunities for tenants, tourists, and property owners. From more accessible luxury to the rise of short-term rentals and a move towards greener practices, it’s an exciting time to be involved in this sector.
Whether you’re looking to rent or to invest, the opportunities are plentiful, and this guide hopefully helps you navigate them with ease.
So grab the opportunity, become a part of Dubai’s vibrant real estate landscape with Like Home, and make your dreams come true.