The secondary property market in Dubai generated capital gains of Dh59.7 billion in 2024, representing 32 per cent of Dubai’s all-time high total re-sale value of Dh188.1 billion last year, a report showed.
According to data released by fäm Properties today, total re-sale profits last year were 34 per cent up on 2023, completing a dramatic 1300 per cent leap over the last five-years.
Data from DXBinteract covering 136 areas across the emirate revealed that the highest amount of capital gain, Dh6.48 billion, was achieved on Palm Jumeirah.
Prominent residential areas like Dubai Marina, Dubai Hills Estate, Downtown Dubai and Business Bay also featured in the top ten for annual capital gain.
So did Jumeirah Village Circle, which was also the top-performing area for ready property developer sales in 2024, and placed second after Dubai Marina in total re-sale transactions.
Villa sales increased by 21.1 per cent to 30,938 units worth Dh164.1 billion, commercial property transactions were up 10.1 per cent in volume to 4,304 units at Dh9.7 billion, while 4,352 plots sold for Dh86.5 billion, a 2.6 per cent increase.
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