Dubai's secondary market is gaining momentum

Buyer behavior in the Dubai real estate market has been shifting in recent months. There is a greater emphasis on specific properties, their price, and the ability to use them immediately. S&P Global Ratings expects secondary market transactions to gain a larger share, while new development projects remain a very significant part of the market.

The secondary market is gaining a larger share

In the third quarter, properties under construction accounted for 72% of all residential purchases and 65% of their total value. The remainder of the market consisted primarily of existing properties and resales. Current trends do not signal a decline in new projects, but rather show that buyers have increasingly broader options for investing in Dubai real estate.

Furthermore, the secondary market does not only include completed properties. It also includes units that the original owner sells before the project is finished. The deciding factor is that it is no longer a first-time sale directly from the developer.

Why buyers are looking for completed properties

One of the main advantages is the ability to use the property almost immediately. Buyers can see the actual condition of the apartment, the building, and the surrounding area, and can compare the price with transactions already completed in the area. For investment properties, they also do not have to wait several years for the project to be finished before they can start renting it out. The Dubai Land Department already identifies demand for completed properties as an important part of the market in its data, especially among end-users and long-term investors.

Another advantage of established locations is the greater amount of available data. Investors can track actual sales prices, transaction history, or lease agreements, making it easier to compare a specific offer with the surrounding market. The Dubai Land Department makes this data available through its real estate transaction and rental database.

The rental market remains strong

Investor interest in completed properties is also supported by an active rental market. In 2025, 1.38 million rental contracts were registered in Dubai, a 6% year-on-year increase. Their total value reached AED 126.4 billion, and the number of new contracts grew by 10% to more than 513,000.

High activity continued into 2026. In the first quarter alone, 118,385 new rental contracts were signed, and another 135,607 contracts were renewed. For investors, renting remains one of the ways to utilize a completed property immediately after acquisition.

More completed properties are entering the market

In the first half of 2026, 104 real estate projects with a total of 24,537 new units were completed in Dubai. Compared to the same period of the previous year, the number of completed projects increased by 38.7% and the number of new units by more than 36%. The supply of properties ready for move-in or rental is thus gradually expanding.

Construction continues as well. The Dubai Land Department reports that at the end of 2025, there were 937 projects under construction, a 25% year-on-year increase. In the coming years, new units will gradually enter the market, expanding the supply of new builds and, eventually, the secondary market.

Off-plan still leads

Although the secondary market is gaining importance, properties under construction continue to make up the majority of Dubai's residential sales. In the third quarter, they accounted for 72% of all purchases and 65% of their total value. New projects remain a vital part of the Dubai market and are attractive to many investors due to the ability to enter a project during construction and take advantage of established payment plans.

A wider range of options creates new opportunities

The growth of the secondary market and ongoing developer construction give investors broader options than before. Alongside new projects, they can choose from completed units with an existing history of prices and rents, or from properties that their original owners are offering for resale.

The secondary market and projects under construction do not compete with each other. Each of these segments offers different possibilities, and the right choice depends on the investor's goals, time horizon, and preferred method of financing. Current developments primarily show that the Dubai real estate market offers more and more paths for entering real estate investment.