The UAE has operated according to the principles of FATF, providing the sense of security and prestige to the investors as these are the principles of the European community.  In March 2024, the UAE was removed from the FATF “Greylist.” This list was developed by the Financial Action Task Force to fight against money laundering. 

According to Allsopp & Allsopp (2024), for the UAE, exiting the FATF “green list” offers benefits to its economy and enhances its global position, attracting more foreign investment and establishing trustworthy relationships with international partners. The real estate sector, specifically, is expected to experience substantial advantages from this alteration.

As we look into the data for the first quarter, Allsopp & Allsopp company  has identified several key trends that are shaping the UAE’s real estate market:

  1. Sharp Increase in Sales. Since the beginning of 2024, sales volume increased by 19.3% compared to the first quarter of 2023. Sales from January through March also broke records seen in the fourth quarter of 2023.
  2. Buyer Preferences. This year, there is a preference for financing over cash purchases and off-plan sales in the market.
  3. In terms of numbers:
    • 30% of all sold properties were priced below 1 million dirhams,
    • 80% of sales occurred at prices below 3 million dirhams.
    • As rental rates rise and interest rates become more affordable, people prefer buying property rather than renting.
  4. Off-Plan Property Sales. Off-plan real estate continues to gain momentum in sales; developers are launching new projects at an impressive frequency—once every 17 hours, significantly more than in the previous quarter, which was once every 36 hours.
  5. The leaders among the regions are still:
    • Jumeirah Village Circle,
    • Dubai Marina,
    • Business Bay.

Apartments accounted for 61.2% of the total sales volume by value, while villas and townhouses made up 38.8%.
Sourced from: https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1311-Is-Dubai%E2%80%99s-property-market-set-to-soar-amidst-UAE-coming-off-the-FATF-Greylist%3F-