Dubai continues to shine as a beacon of inspiration for real estate investors in the Middle East, with its vibrant market and influential projections for 2024, Invest-Gate reports.

Analysts anticipate a 5% to 7% increase in residential property prices, signaling a promising year ahead for Dubai’s real estate sector.

Moreover, real estate expert Salman bin Ali stated, “We’re expecting a 5% to 7% rise in residential property prices in Dubai’s real estate industry by 2024.”

“The city is incredibly dynamic and appealing to investors worldwide, drawn by its status as a commercial and tourist hub. Particularly, the luxury market is under the spotlight, expected to lead the charge with its exceptional offerings and innovative developments,” Bin Ali added.

Furthermore, Bin Ali highlighted the positive trajectory of Dubai’s real estate market, driven by increasing demand and the city’s innovative spirit, noting its strength in adapting and continuously attracting international investors drawn to Dubai’s luxurious lifestyle and robust infrastructure.

Notably, deposits for purchases on the map often exceed a million dollars for luxury properties. Despite branded residences comprising a small portion of the property inventory, the sector is rapidly expanding due to substantial demand from developers eager to continue building this type of housing.