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Off-plan market experiences strong growth for the 4th year in a row

The Market Insights report from the leading real estate agency offers insights from 2023 and highlights trends for 2024. Despite the completion of 60,000 units, demand is outstripping supply due to rapid population growth. Surprisingly, villas accounted for only 1 percent of off-plan transactions.

Certain areas, including Tilal Al Ghaf, Jumeirah Islands, Dubai Harbour and Dubai Hills Estate, have seen increases in the average sales price per square foot. Dubai Hills Estate leads in rental growth for apartments. New off-plan communities such as “Tilal Al Ghaf” and also “Dubai Hills Estate” are enjoying growing popularity, while older neighborhoods such as “Arabian Ranches” and “Emirates Living” continue to see high demand and record transactions.

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