According to the Housearch Investment Index, the Dubai and Gulf markets, including Oman and Qatar, are leading in residential real estate investments for the year 2024, Invest-Gate reports.

This region is considered attractive as a stable and reliable investment destination, particularly in light of the decline in real estate markets in Europe and North America.

The UAE, with Dubai being a focal point, has long been a popular choice for overseas real estate investment. The region’s allure stems from its luxury real estate offerings, favorable business environment, and minimal tax regime.

The influx of entrepreneurs, high-tech startups, and affluent foreigners, particularly after Brexit as London’s attractiveness waned, has further revitalized the residential real estate market in Dubai.

It is worth noting that from the beginning of 2023 until the end of October, the total real estate transactions in Dubai reached approximately AED 432 bn. These transactions amounted to 133,183 deals, representing a growth of 27.8% in value and 17.3% in number compared to the same period in 2022, which saw AED 283 bn from 85,941 transactions.

During the first 10 months of 2023, the value of real estate market sales in Dubai reached around AED 306.5 bn. This resulted in 99,454 deals, indicating a growth of 46.4% in value and 29% in number compared to the same period in 2022, which recorded AED 209 bn from 76,932 deals.