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

The Dubai real estate market is known for its dynamic nature, and it is influenced by various factors such as economic conditions, government policies, global trends, and investor sentiment. To get the most accurate and up-to-date information about the Dubai real estate market in 2023-2024.

 According to the latest data, the month saw 10,419 real estate transactions, recording a 17.78% increase in volume compared to 8,846 in June 2022.

The value of the transactions witnessed a surge of 34.1% compared to the same month last year, reaching AED 30.41 billion. This marks the highest transaction volume and value for the month of June in a decade.

The market broadly followed the previous month’s trends in property preferences for owners and tenants alike. From Property Finder’s data for June 2023, 57.5% of property buyers were looking for an apartment, while 42.5% were interested in villas/townhouses. The most commonly searched apartment size for purchase was two-bedroom, accounting for 34.1%, closely followed by one-bedroom apartments at 33.4%.

On the other hand, in the rental market, 78.5% of tenants were searching for apartments, and 21.5% were looking for villas or townhouses. Around 61.8% of those seeking apartments favored furnished properties, while 34.2% were searching for unfurnished options. Among the tenants who can afford to rent a villa or townhouse, 54.5% preferred unfurnished units, while 42.1% favored furnished options.

Around 35.1% of tenants were looking for one-bedroom units last month, while 31.1% expressed a preference for two-bedroom apartments, and 22% were searching for studios. Among villas/townhouses, three-bedroom units enjoyed the highest popularity at 43.4%, while 36.1% of tenants were searching for four-bedroom or larger options.

several areas in Dubai were considered popular among investors and tenants due to their amenities, infrastructure, and potential for good returns. However, keep in mind that the real estate market is subject to change, so it's crucial to conduct up-to-date research. According to Property Finder’s proprietary data, the top areas searched to own apartments in June 2023 were 

1. Downtown Dubai: Known for iconic landmarks like the Burj Khalifa and the Dubai Mall, Downtown Dubai is a prime location with high demand for both residential and commercial properties.

2. Dubai Marina: This waterfront community offers a vibrant lifestyle with numerous dining and entertainment options, making it attractive to both tenants and investors.

3. Jumeirah Beach Residence (JBR): Situated along the beach, JBR is a sought-after area for those looking for a beachfront lifestyle and a variety of dining and leisure activities.

4. Palm Jumeirah: As an artificial archipelago in the shape of a palm tree, Palm Jumeirah is a prestigious area with luxurious properties and stunning waterfront views.

5. Business Bay: A central business district with a mix of commercial and residential properties, Business Bay is becoming increasingly popular for its strategic location and modern lifestyle.

6. Jumeirah Lake Towers (JLT): This area is well-known for its numerous high-rise towers offering various residential options and access to a range of amenities.

7. Dubai Sports City: Designed around sports venues and facilities, Dubai Sports City appeals to sports enthusiasts and those looking for a more active lifestyle.

8. Arabian Ranches: A gated community offering family-friendly amenities, Arabian Ranches is favored by families and investors looking for a serene and upscale living environment.

9. Dubai Silicon Oasis: Known as a technology park, Dubai Silicon Oasis attracts professionals and investors interested in tech-related businesses and opportunities.

10. Dubai International City: This area offers affordable living options and a diverse community, making it attractive to budget-conscious tenants and investors.

Dubai Living is a customer-orientated real estate company based in Dubai, UAE. Our goal is to provide you the best service based on your needs and build long lasting friendly relationships. We will be at your service from the initial start to finish and make sure you feel fully comfortable the entire duration of the process.

Dubai Living works directly with the largest developers in Dubai and offers you properties at exclusive prices that are not available on the market. We do not just sell real estate, we help you to receive a good ROI on your investment property.