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While in other countries the property market is either stagnating or cautiously retreating, in Dubai it is quite the opposite — it is full steam ahead. In November, 19,019 deals were concluded, which is 30.9% more than a year ago. And the amount of money involved was astronomical: 64.7 billion dirhams, or almost 18 billion dollars. Compared to November 2024, this is an increase of 50%.
In the first eleven months of this year, almost 200,000 transactions have already been completed, which is a new absolute record. The total amount for the year is more than 624 billion dirhams. For comparison, the entire year 2024 ended at 522 billion. In other words, the market has grown by almost a fifth, and this is not the end.
Most people are snapping up apartments under construction — 73% of all November transactions. Completed apartments added 35%, villas — 28%. The hottest areas remain the same: Palm Jumeirah, Downtown, Dubai Marina, Jumeirah Village Circle. The square foot in the premium segment is already approaching 1,800 dirhams, and this does not scare anyone.
Why is everyone rushing here? It's simple. There is no income tax, mortgages are at 4.5-5%, a ‘golden visa’ is available for purchases of two million or more, and the city is being built in such a way that it's hard to take it all in: new metro lines, a second airport, whole new neighbourhoods. Plus, developers offer instalment plans — you put down 10-20% and pay the rest over several years.
Of course, not everything is perfect. So much new housing has been built that by the end of 2026, someone will start to get nervous about the oversupply. But it's too early to worry: even in the segment up to one million dirhams, demand has jumped by a third, and the most expensive lots are selling for hundreds of millions. In November, for example, a villa on the Palm was bought for 110 million dirhams — and that's not a record, just a normal day.
Russians, Indians, British, Europeans — they're all here. Foreigners now account for almost half of all transactions. Developers are smiling, realtors are drinking energy drinks by the dozen, and those who bought an apartment two years ago are already counting their profits.
In short, Dubai has no intention of slowing down. Another 20,000 deals are expected by the end of the year, and prices, according to the most modest forecasts, will rise by another eight to ten per cent. If you want to get in on the action, now is the time. After that, it will be more expensive and more hectic.