Foreign buyers drive Dubai real estate market growth
Foreign nationals now account for more than 40% of Dubai’s residential property market by value with this figure growing annually, according to the latest data from the EU Tax Observatory.
This figure is backed up by data from the Dubai Land Department, underscoring the emirate’s status as one of the most sought-after property markets for international investors.
Dubai’s real estate sector recorded a record AED 761 billion (US$207 billion) in sales across 226,000 deals in 2024 – a 20% increase in value and 36% in volume compared to 2023.
According to DLD data, the sector recorded 217,000 investments valued at $143 billion, reflecting impressive growth rates of 38% and 27% in number and value respectively.
Furthermore, 110,000 investors purchased property in Dubai for the first time in 2024, marking a remarkable 55% increase compared to 2023.
According to the DLD, “these unprecedented achievements highlight the emirate’s leading role in creating a world-class investment ecosystem that attracts investors from around the globe and supports the sustainable growth of the real estate sector”.
“These indicators serve as tangible evidence of the resilience of Dubai’s real estate market, its ability to adapt to global changes, and its success in attracting high-quality investments,” commented Marwan Ahmed bin Ghalita, Director-General of Dubai Land Department. “Attracting 110,000 new investors to the real estate sector last year is a clear indicator of our efforts to enhance global investor confidence.”
Economic growth initiatives driving international investor interest
Dubai’s business-friendly tax environment, political stability and visa reforms, including the long-term Golden Visa programme, have attracted investors from across the world, explained Faisal Durrani, head of Middle East research at Knight Frank.
“Dubai’s appeal among international investors has expanded well beyond traditional buyers from the GCC or India,” he said. “We’re now seeing a surge of demand from European and North American buyers, especially in the luxury and ultra-prime segment.”
According to Knight Frank’s 2025 Wealth Report, Dubai ranked among the world’s leading markets for luxury residential price growth last year. Prime neighbourhoods such as Palm Jumeirah and Dubai Hills Estate saw record-breaking sales, including multiple homes trading above AED 100 million (US$27 million).
The emirate has also emerged as a leading destination for second-home ownership. A 2024 report by Henley & Partners ranked Dubai the world’s top city for wealthy expatriates, with more than 72,500 high-net-worth individuals (HNWIs) residing in the city as of mid-2024.
In contrast, foreign ownership in markets like London and Miami is comparatively lower – typically ranging between 30–45% – according to the report.
