Dubai Marina is The Preferable area for investors in 2023 as per Bayout website.
Furthermore, the prices of villas and apartments in Dubai areas increased to 17% in the first half of 2023.
Why is Dubai Marina the Preferable Area for Investors ?
- Its prime location is on the coast of the Arabian Gulf, which offers stunning sea views.
- Its proximity to many popular tourist and entertainment attractions, such as Burj Khalifa, the Dubai Mall, and Palm Jumeirah.
- Availability of a variety of services, such as restaurants, markets, shopping malls, hospitals, and schools.
- The diversity of luxury apartment options available for sale, which meet all needs and budgets.
- The high demand for apartments in Dubai Marina, which ensures a good investment return in the long term.
As per Bayout website,Potential investors looking for villas and apartments at affordable prices were interested in Dubai areas such as:
–JVC.
–Jumeirah Lakes Towers.
–Damac Hills 2.
–The Gardens.
While high-income investors focused on luxury properties in Dubai Marina, Downtown Dubai, Arabian Ranches, and Dubai Hills Estate.
The prices of affordable apartments in the most sought-after areas in Dubai increased by up to 17%.
Also the cost of renting luxury apartments increased significantly by up to 32%.
Affordable villas in the most sought-after neighborhoods saw rental increases of up to 50%.
While the cost of renting luxury villa properties increased by up to 70%.
Mostly, Tenants looking for affordable apartments are interested in properties in JVC and Bur Dubai.
While those looking for villas preferred homes in Damac Hills 2 and Mirdif.
For luxury properties, Dubai Marina and the Business Bay remained the most sought-after options.
Mentioning that the average price per square meter in apartments in Dubai Marina increased by 5.61%.
Approx. average of 1,679 dirhams during the first half of 2023.
Also, Investors looking for upscale apartments are interested in properties in Downtown Dubai, the Business Bay, Palm Jumeirah, and JBR Beach.
The average price per square meter for the sale of apartments in these neighborhoods increased by up to 13%.
Most of these price increases are because of the increase in demand for properties in these areas.
According to the search trends observed on Bayut, JVC is the top choice for investors looking for low-cost apartments in Dubai.
The average price per square meter for the sale of apartments in JVC increased by 4.96%.
Approx. 974 dirhams in the first half of 2023.
Low-cost apartments are interesting for investors.
Also they are attracted to properties in Burj Khalifa Lakes, Dubai Silicon Oasis, Dubai Sports City.
There is an increase of 1% to 7% in the average selling price per square foot for apartments in these areas.
Burj Khalifa Lakes reported the highest increase.
During the first half of 2023, the average selling price of expensive villas in Dubai continued to rise in the most prominent neighborhoods.
The best option for buyers looking for luxury villas is Arabian Ranches.
Also, the average price per square foot for villas in Arabian Ranches was 1,316 dirhams, after a slight increase of 2.81%.
Homes in Dubai Hills Estate also attracted high-net-worth buyers.
The average price per square foot for villas in Dubai Hills Estate increased slightly by 11.9% to reach 1,833 dirhams.
Buyers and investors also showed interest in the luxury villas available in Damac Hills, Palm Jumeirah, and Jumeirah Park.
Since prices in these areas have increased by up to 17%.
The most notable sales activity seen in Palm Jumeirah, which could be due to the increase in demand in the area.
Investors and buyers interested in affordable villas in Dubai preferred Damac Hills 2.
The average price per square foot for villas in Damac Hills 2 increased by 6.25% to reach 684 dirhams on average.
Read More:
-Dubai is the 1st Tourist Destination on Forbes list
AI is a new competitive sector in real estate markets
Dubai Sports Events achieved huge success in 2023
“Dubai Summer Surprises”.. A Joyful Carnival
