Indians Lead Dubai Real Estate Market in 2024, Pakistanis See Strong Growth
Dubai’s real estate market continues to thrive, with Indians maintaining their position as the top buyers in 2024. According to the latest report from property consultancy Better Homes, Pakistanis have climbed to fifth place, up from seventh last year, marking a significant shift in buyer dynamics.
As property prices in Dubai are expected to rise by 5-8% annually in 2025, with luxury hotspots like Palm Jumeirah and Downtown Dubai seeing even higher increases, the emirate’s appeal remains strong. In fact, the luxury property sector has outperformed major cities like London and New York, with prices for homes priced at $10 million+ anticipated to increase by 8-10% in the coming year, according to Better Homes.
British buyers secured second place, while Russian buyers, who held third place in 2023, have now dropped to ninth. Turkey, however, has risen to take Poland’s spot in the tenth position.
The value of property transactions in 2024 reached an impressive AED 423 billion—a 30% year-on-year increase in both value and volume, further solidifying Dubai’s status as a global real estate powerhouse. With major developers like Emaar, Ellington, Meraas, Select, and Omniyat positioned for exceptional growth in 2025, the future of the market looks even brighter.
Dubai’s ambitious Real Estate Strategy 2033 is aiming for a market valuation of AED 1 trillion by 2033, with the city’s population set to reach 4.34 million by 2027. In addition, the city welcomed a record 18.72 million overnight visitors in 2024, showcasing the growing influence of tourism on real estate, retail, and hospitality.
Major infrastructure projects like the Etihad Rail Network and the Dubai Blue Metro Line, along with traffic congestion improvements, are expected to drive even more growth. The rise of Ultra High Net Worth Individuals (UHNWIs) continues, with luxury designer developments flourishing—Dubai now boasts nearly 140 branded residences.
With initiatives like the golden visa, blue visa, and investor programs attracting global talent, the real estate market in Dubai is not just a bubble, but a solid and growing sector poised for continued success. The hospitality industry also mirrored this trend, with a remarkable 111.8% growth in the 5-star hotel sector in the past year, according to Cavendish Maxwell.
