Real Estate Markets Experience Significant Growth in 2024

The residential real estate market in Dubai surged 31% year-on-year in the second half of 2024, with off-plan sales leading the trend and accounting for 65% of transactions. Ajman also saw remarkable growth, with real estate transactions reaching AED2.28 billion in December 2024, marking a 102% increase from the previous year. Meanwhile, Germany's property transactions rose to €35.3 billion in 2024 but are expected to remain below long-term averages due to ongoing economic challenges. Armenia's real estate market recorded a 13% increase in transactions, driven by a construction boom and stricter rental market oversight. In Oman, real estate transactions increased by 28.1% to OMR 3,130.8 million by the end of November 2024, with a notable rise in mortgage contracts. These trends highlight a mixed yet generally positive outlook for real estate markets across the region.