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As of the third quarter of 2024, there were roughly ** thousand residential off-plan transactions in the Emirate of Dubai in the United Emirates The biggest increase in transactions was seen between the third quarters of 2023 and 2024 when the number of transactions roughly doubled.

UAE Residential Real Estate Market

The United Arab Emirates has a thriving real estate market. In Dubai alone, the sector was forecast to reach a market value of approximately *** billion U.S. dollars in 2024. Residential real estate transactions rose to an all-time high of **** billion U.S. dollars, of which ** percent were off-plan transactions. The average price of ready residential homes has witnessed a consistent rise in prices over the years, which has made off-plan residential transactions a viable entry point for many interested buyers.

Rising Real Estate Costs Push Buyers to Ajman & Sharjah

Dubai’s neighbor Abu Dhabi, which had **** times fewer new real estate units planned, also saw growth in the sector with residential ready home transactions jumping **** percent during this period. While major centers like Abu Dhabi and Dubai are the primary choices for many buyers, the high costs of ready to move-in properties and the long waiting times of off-plan projects have forced some to look at emirates such as Ajman and Sharjah. Properties in these emirates are more financially accessible and attractive destinations for potential early investors who expect a significant appreciation in real estate values in the coming years.