The residential real estate market in Dubai continues to grow
In 2023, the real estate market in Dubai continues its growth and is expected to reach 20%, according to Zoom Property Insights. The luxury housing sector remains dominant and is likely to grow to 13.5%. This is primarily due to high demand from foreign and local investors.
The most sought-after areas for buyers in 2023 will be Downtown Dubai, JBR, Palm Jumeirah, Dubai Marina, and others.
It is worth noting that Palm Jumeirah has recently experienced the highest price growth of 5% in the apartment sector. It was followed by MBR City, Meydan City, and Living Legends, where average property prices have increased by 4.7% in all these communities.
Emirates Hills recorded the highest price growth of villas at 4.6%. Other popular areas include Mudon (4.1%), Jumeirah Village Circle (3.9%), and MBR City (3.1%).
When it comes to apartment rentals, the most promising indicators were seen in Old Town, the residential community of Dubailand, the green community (DIP), and Downtown Dubai, with growth rates of 4.9%, 4.6%, 4.5%, and 4.4% respectively.
In 2023, the real estate sector in Dubai continues to actively develop, largely thanks to iconic communities such as Jumeirah, JBR, Arabian Ranches, and Dubai Marina.
