Dubai Real Estate Market: Top locations that are favourite for owners and tenants
17 07 2023

Dubai Real Estate Market: Top locations that are favourite for owners and tenants

The top MENA property portal, Property Finder, has identified the key factors that will dominate Dubai's continually booming real estate market in June 2023. The most recent figures show that 10,419 real estate transactions took place in the month, representing a 17.78% volume increase over the 8,846 transactions in June 2022.

In comparison to the same month last year, the transaction value increased by 34.1% to AED 30.41 billion. For the month of June, this represents the largest transaction volume in a decade.

According to the data for June 2023, 57.5% of property buyers were looking for an apartment, and the remaining 42.5% were interested in villas/townhouses. The most commonly searched apartment size for purchase was two-bedroom, accounting for 34.1%, followed by one-bedroom apartments at 33.4%.

In the rental market, apartments were sought after by 78.5% of tenants, while villas and townhomes accounted for 21.5%. 34.2% of those looking for flats preferred unfurnished choices, while 61.8% preferred furnished units. 54.5% of renters who could afford a villa or townhouse preferred unfurnished apartments, while 42.1% preferred furnished ones.

According to Property Finder’s data, the top areas searched to own apartments in June 2023 were:

       Dubai Marina

       Downtown Dubai

       Business Bay

       Jumeirah Village Circle

       Palm Jumeirah

While the top areas for those looking to own villas/townhouses were:

       Dubai Hills Estate

       Palm Jumeirah

       Arabian Ranches

       DAMAC Hills (Akoya by DAMAC)

       Al Furjan

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