Property Abroad
8-10 % high global real estate gains in Dubai | Al Khaleej Newspaper

8-10 % high global real estate gains in Dubai | Al Khaleej Newspaper

8-10% высокие мировые доходы от недвижимости в Дубае | Газета Аль-Халидж

A new report published by Bayut on Dubai real estate for the third quarter of 2023 has revealed a list of the most popular areas in the real estate sector in the emirate. The report is based on an analysis of search trends on the platform and shows that real estate prices in Dubai continue to rise, creating an ideal environment for sellers and owners. The steady rise in prices is in line with the trends seen over the past eighteen months, with rising demand and an influx of new residents causing an unprecedented surge.

Data from Bayut shows that prices of apartments and villas for sale in Dubai's prime neighborhoods rose by 2-12% in the third quarter of 2023.

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The most popular areas to buy mid-priced apartments and villas were Jumeirah Circle Village, Dubai Silicon Oasis and Damac Hills 2. And for luxury housing, the researchers preferred areas such as Dubai Marina, Dubai Commercial Bay, Arabian Quarters and Dubai Hills Estate.

According to the Dubai Department of Land and Real Estate, 30,981 residential real estate transactions, completed and under construction, totaling AED 96.9 billion were recorded in the third quarter of 2023 alone.

In terms of return on investment, certain neighborhoods including Dubai Investment Park, Liwan and Remraam offer yields of up to 10% for rental apartments, which is highly attractive to investors. While neighborhoods such as Al Barari and Jumeirah Golf Estates offer surprising yields of up to 8% for luxury apartments.

The Bayut report also found a rise in rental values in popular neighborhoods, with rents for affordable housing increasing by 11% and for luxury apartments by 13%. Mid-priced villas also experienced price increases ranging from 3% to 16%, while rents for luxury villas rose by 21%.

Bayut notes that demand for rental properties continues to grow, especially with more people moving to the UAE in search of better job opportunities and a secure life.

The overall report indicates that the real estate market in the UAE and particularly in Dubai is showing very positive trends with no signs of slowing down, while major economic sectors around the world continue to suffer from the post-pandemic slowdown.


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