Bayut’s Dubai Sales Market Report for 2023
- Top Neighbourhoods in Dubai
- Affordable Apartments
- Mid-Tier Apartments
- Luxury Apartments
- Affordable Villas
- Mid-Tier Villas
- Luxury Villas
- Top Off-Plan Projects
With the year 2023 wrapped up, it’s time to analyse the property prices in Dubai for apartments and villas in the most sought-after districts of the emirate. Accounting for the record-breaking transactions throughout the year, the Dubai real estate market has maintained its impressive rate of growth. Bayut’s Dubai Sales Market Report 2023 provides valuable insights into the property price trends observed in Dubai during the last year.
This Bayut sales property market report compares and analyses property sales prices in Dubai from 2023 against those recorded in 2022.
A look at the data affirms the upward trajectory in property prices for both villas and apartments in Dubai during 2023, spanning across the luxury, mid-tier and affordable segments. Property price trends on Bayut highlight:
- In the affordable segment, Dubai property prices experienced increases of up to 17% during 2023.
- The mid-tier properties reported price increases of between 4% and 22%.
- The average sales price-per-square-foot for luxury properties in Dubai have surged by up to 21%.
- Based on the historical data on Dubai Transactions a total of 132,628 sales transactions, collectively valued at AED 409.8 billion took place during 2023.
We have segregated popular areas for buying apartments and villas into ‘Affordable,’ ‘Mid-tier’ and ‘Luxury’ to offer a more tailored view of the Dubai real estate market in 2023.
TOP AREAS IN DUBAI ACCORDING TO TRENDS ON BAYUT
The surge in Dubai’s property sale prices propelled by key factors have driven the real estate market to unprecedented levels. During 2023, Dubai reported an impressive uptrend in sales, highlighting the market’s strength and desirability. This increase in demand is fuelled by a combination of factors, including the city’s robust economic recovery, attractive investment opportunities and an influx of both local and international investors.
Investors are attracted to the promising returns on investment in Dubai’s real estate market, contributing to the significant upward trajectory in property prices. The optimistic economic outlook for Dubai, coupled with its status as a global business hub, sustains demand for real estate, further fuelling the growth in property prices.
Based on the Dubai property prices and search trends collected for Bayut’s real estate sales market report, potential investors mainly focused their interest in properties in the districts listed below:
- Jumeirah Village Circle (JVC)
- Business Bay
- Dubai Marina
- Downtown Dubai
- Dubai Silicon Oasis
Using the real-time insights on Bayut’s Dubai Transactions feature, which sources data directly from the Dubai Land Department, here’s a look at the sales transactions and value contributed by these popular districts to the overall real estate sales in the emirate.
AREA | SALES VOLUME | SALES VALUE |
|---|---|---|
AREA Jumeirah Village Circle | SALES VOLUME 14,263 | SALES VALUE 15.4B |
AREA Business Bay | SALES VOLUME 10,173 | SALES VALUE 22.6B |
AREA Downtown Dubai | SALES VOLUME 5,045 | SALES VALUE 19.2B |
AREA Dubai Marina | SALES VOLUME 4,886 | SALES VALUE 15.7B |
AREA Dubai Silicon Oasis | SALES VOLUME 1,806 | SALES VALUE 1.4B |
*The data shown in the table above has been sourced directly from the DLD. The areas in the table have been selected based on the overall search volume observed on Bayut.
Now, let’s explore the detailed Dubai real estate market report 2023, derived from the search patterns and advertised prices observed on Bayut.
For an accurate representation of Dubai property prices, our 2023 sales market report compares the average price-per-square-foot for an area to the previous time period. Please note that these prices are subject to change based on multiple factors including amenities available, the developer involved in the project, location and other key factors.
INTERNATIONAL CITY IS THE MOST POPULAR AREA TO BUY AFFORDABLE APARTMENTS IN DUBAI
AVERAGE SALES PRICES FOR AFFORDABLE APARTMENTS: BAYUT ANNUAL DUBAI REAL ESTATE SALES MARKET REPORT 2023
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022 | TRANSACTION PRICE Avg. Transaction PriceChange from 2022 | STUDIO | 1-BED | 2-BED |
|---|---|---|---|---|---|---|
| International City | ROI 8.10% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| STUDIO
| 1-BED
| 2-BED
|
| Dubai Residence Complex | ROI 7.90% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| STUDIO
| 1-BED
| 2-BED
|
| Dubai Production City (IMPZ) | ROI 7.32% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| STUDIO
| 1-BED
| 2-BED
|
The property search and price trends in Dubai observed on Bayut during 2023 revealed International City as the top choice among investors interested in affordable apartments:
- The price-per-square-foot for apartments for sale in International City witnessed a surge of 15.5%, averaging at AED 583 in 2023.
- According to the sales history for apartments in International City, the average transaction price in the area stood at AED 383.2k, following an increase of 5.22%.
- On average, studios listed for sale in International City were priced at AED 286k, 1-bedroom flats were available for AED 403k and 2-bedroom units were listed for AED 792k.
Investors in search of budget apartments also showed inclination towards properties in Dubai Residence Complex:
- Flats for sale in Dubai Residence Complex recorded an average price-per-square-foot of AED 676 in 2023, showing a 7.32% increase in advertised prices.
- The historical transactions for apartments in Dubai Residence Complex were valued at AED 559.8k, following an uptick of 16.5% in 2023.
- On average, investors paid approximately AED 412k for a studio in Dubai Residence Complex, while 1-bedroom and 2-bedroom flats were priced at around AED 554k and AED 730k, respectively.
Another area that attracted buyer interest was Dubai Production City, where price-per-square-foot for apartments increased by 9.18% to average at AED 926.
AREAS WITH HIGH ROI FOR AFFORDABLE APARTMENTS IN DUBAI
As per Bayut’s Dubai Sales Market Report 2023, an area which stood out from the crowd when it came to ROI based on projected rental yield was DIP, averaging an impressive 10.8%. Liwan and Discovery Gardens also ranked highly with projected rental ROI of 9.41% and 9.30%, respectively.
Within the most searched for locations on Bayut, International City offered notably high yields of 8.10%. Dubai Residence Complex also registered attractive potential rental ROI of 7.90%, with Production City not far behind on a solid 7.32%
JUMEIRAH VILLAGE CIRCLE HAS REMAINED THE MOST POPULAR AREA TO BUY MID-TIER APARTMENTS IN DUBAI
AVERAGE SALES PRICES FOR MID-TIER APARTMENTS: BAYUT ANNUAL DUBAI REAL ESTATE SALES MARKET REPORT 2023
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022 | TRANSACTION PRICE Avg. Transaction PriceChange from 2022 | STUDIO | 1-BED | 2-BED |
|---|---|---|---|---|---|---|
| Jumeirah Village Circle | ROI 8.48% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| STUDIO
| 1-BED
| 2-BED
|
| Dubai Silicon Oasis | ROI 9.07% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| STUDIO
| 1-BED
| 2-BED
|
| Jumeirah Lake Towers | ROI 8.57% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| STUDIO
| 1-BED
| 2-BED
|
In the mid-tier segment, Jumeirah Village Circle (JVC) emerged as the most sought-after district among home buyers and investors looking for apartments:
- The price-per-square-foot for flats for sale in JVC recorded an uptick of 7%, averaging at AED 1,016 in 2023.
- According to sales history for apartments in JVC, the average transaction price in the area stood AED 691.7k, following an increase of 2.75%.
- On average, the price for studios flats for sale in JVC averaged at AED 510k, whereas the 1-bedroom and 2-bedroom units were priced at AED 778k and AED 1.19M, respectively.
Buyers with mid-range budgets also gravitated towards the apartments in Dubai Silicon Oasis:
- Dubai Silicon Oasis apartments for sale experienced a surge of 4.91% in price-per-square-foot, averaging at AED 676 in 2023.
- Historical transactions for apartment sales in Dubai Silicon Oasis averaged at AED 493.3k, recording an increase of 0.82% in 2023.
- On average, studio flats in Dubai Silicon Oasis were priced at AED 352k, whereas buyers paid around AED 488k for 1-bed and AED 829k for 2-bed units.
Additionally, based on data compiled for Bayut’s Dubai real estate market report, mid-tier investors for apartments also expressed interest in Jumeirah Lake Towers. The price-per-square-foot for apartments in JLT increased by 11.8%, to average at AED 1,183.
AREAS WITH HIGH ROI FOR MID-TIER APARTMENTS
According to the findings presented in Bayut’s Dubai Sales Market Report for 2023, Dubai Silicon Oasis emerged as a standout district in terms of projected rental yields, averaging an impressive 9.07%. Dubai Sports City and Motor City also offered high projected ROIs of 8.98% and 8.91%, respectively.
Besides Dubai Silicon Oasis, among the most sought-after locations on Bayut, Jumeirah lake Towers exhibited notably robust yields of 8.57%. Jumeirah Village Circle also showcased an appealing potential ROI of 8.48%.
DUBAI MARINA HOLDS INVESTOR INTEREST FOR LUXURY APARTMENTS IN 2023
DUBAI PROPERTY PRICES FOR LUXURY APARTMENTS FOR SALE: BAYUT DUBAI SALES MARKET REPORT 2023
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022 | TRANSACTION PRICE Avg. Transaction PriceChange from 2022 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|---|
| Dubai Marina | ROI 7.15% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 1-BED
| 2-BED
| 3-BED
|
| Business Bay | ROI 6.60% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 1-BED
| 2-BED
| 3-BED
|
| Downtown Dubai | ROI 6.56% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 1-BED
| 2-BED
| 3-BED
|
Based on Bayut’s Dubai sales market report 2023, Dubai Marina retained its position as the preferred destination for luxury apartment sales:
- The price-per-square-foot for apartments for sale in Dubai Marina saw an increase of 9.16%, averaging at AED 1,737.
- Sales history for apartments in Dubai Marina indicated a surge of 16.6% in the sales transaction value, reaching an average of AED 1.88M in 2023.
- On average, buyers paid around AED 1.46M for 1-bedroom apartments, AED 2.38M for 2-bedroom units, and AED 3.8M for 3-bedroom flats in Dubai Marina.
Prospective buyers also expressed interest in luxury apartments in Business Bay:
- The sales price-per-square-foot for flats in Business Bay witnessed an increase of 14.3%, averaging at AED 1,841 in 2023.
- Historical data for apartment sales in Business Bay revealed a 3.87% increase in the transaction value, which averaged at AED 1.48M during 2023.
- Flats for sale in Business Bay averaged at AED 1.44M for 1-bedroom units, AED 2.31M for 2-bedroom layouts, and AED 3.35M for 3-bedroom configurations.
Bayut’s Dubai annual real estate market report 2023 also highlighted significant investor interest in Downtown Dubai luxury properties. The price-per-square-foot for apartments in the area increased by 10.2% to average at AED 2,637.
AREAS WITH HIGH ROI FOR LUXURY APARTMENTS
As per the insights shared in Bayut’s Dubai Sales Market Report for 2023, Al Sufouh notably distinguished itself in terms of projected rental yields, averaging an impressive 10.3%. The Green Community and Jumeirah Golf Estates districts, also presented high projected ROIs of 9.32% and 8.06%, respectively.
Amongst the sought-after locations on Bayut, Dubai Marina offered promising rental yields of 7.15%. Additionally, Business Bay and Downtown Dubai exhibited appealing potential ROIs of 6.60% and 6.56%, respectively.
The projected ROIs for apartments in Dubai may vary depending on the location of the building, its developer and the amenities offered.
- 2 BEDS
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- 3 BATHS
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- 1136 SQFT
- 1 BED
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- 2 BATHS
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- 427 SQFT
- 2 BEDS
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- 2 BATHS
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- 1829 SQFT
- 2 BEDS
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- 3 BATHS
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- 1598 SQFT
- 1 BED
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- 1 BATH
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- 805 SQFT
DAMAC HILLS 2 RANKS AS THE MOST POPULAR CHOICE FOR BUYING AFFORDABLE VILLAS IN DUBAI
AVERAGE PROPERTY PRICES IN DUBAI TO BUY AFFORDABLE HOUSES: BAYUT DUBAI ANNUAL SALES MARKET REPORT 2023
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022 | TRANSACTION PRICE Avg. Transaction PriceChange from 2022 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|---|
| DAMAC Hills 2 | ROI 6.68% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 3-BED
| 4-BED
| 5-BED
|
| Dubailand | ROI 7.22% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 3-BED
| 4-BED
| 5-BED
|
| Dubai South | ROI 6.71% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 3-BED
| 4-BED
| 5-BED
|
Based on the data compiled for Bayut’s 2023 Dubai sales market report, DAMAC Hills 2 maintained its position as the preferred choice for budget-friendly villas in Dubai:
- The average price-per-square-foot for villas for sale in DAMAC Hills 2 witnessed an increase of 10.7%, averaging at AED 743 in 2023.
- As per the sales history for villas in DAMAC Hills 2, the transaction value averaged at AED 1.35M, representing a 0.54% increase from 2022.
- Buyers interested in 3-bedroom villas in DAMAC Hills 2 paid an average of AED 1.32M, while 4-bedroom and 5-bedroom villas were listed at an average price of AED 1.67M and AED 1.94M, respectively.
Affordable villas in Dubailand also drew the attention of budget-conscious investors:
- Villas for sale in Dubailand experienced a 14.2% increase in the sales price-per-square-foot, averaging at AED 1,034 in 2023.
- Based on the historical data for villa sales in Dubailand, the sales transaction value in the area averaged at AED 2.05M, marking a 10% decrease.
- The prices for homes in Dubailand averaged at AED 2.15M for 3-bedroom villas, AED 2.65M for 4-bedroom layouts, and AED 4.81M for 5-bedroom units.
Small-ticket investors also directed their attention towards affordably priced villas in Dubai South. The price-per-square-foot for houses in Dubai South averaged at AED 835, following a 16.9% surge from 2022.
AREAS WITH HIGH ROI FOR AFFORDABLE VILLAS
According to the trends observed in our Dubai Sales Market Report for 2023, Al Rashidiya has particularly stood out with its projected rental yields averaging at an impressive 9.75%. Similarly, The Jebel Ali and International City districts have demonstrated high projected ROIs of 8.22% and 8.00%, respectively.
Within the sought-after locations highlighted on Bayut, buy-to-let villas in Dubailand have showcased promising rental yields of 7.22%. Additionally, Dubai South and DAMAC Hills 2 have presented appealing potential ROIs of 6.71% and 6.68%, respectively.
JUMEIRAH VILLAGE CIRCLE RANKS AS THE MOST POPULAR CHOICE FOR BUYING MID-TIER VILLAS IN DUBAI
AVERAGE PROPERTY PRICES IN DUBAI TO BUY MID-TIER HOUSES: BAYUT DUBAI ANNUAL SALES MARKET REPORT 2023
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022 | TRANSACTION PRICE Avg. Transaction PriceChange from 2022 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|---|
| Jumeirah Village Circle | ROI 7.90% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 3-BED
| 4-BED
| 5-BED
|
| Al Furjan | ROI 6.51% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 3-BED
| 4-BED
| 5-BED
|
| The Springs | ROI 5.96% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 3-BED
| 4-BED
| 5-BED
|
According to the findings gathered for Bayut’s 2023 Dubai annual sales market report 2023, Jumeirah Village Circle emerged as the preferred choice for mid-tier villas in Dubai:
- The average price-per-square-foot for villas for sale in Jumeirah Village Circle reported an uptick of 10.6%, settling at an average of AED 810 in 2023.
- As reported by the sales history for villas in JVC, the average transaction value reached AED 2.42M, marking a 15.1% increase from 2022.
- Buyers seeking 3-bedroom villas in JVC paid an average of AED 2.27M, while 4-bedroom and 5-bedroom villas were listed at an average price of AED 2.70M and AED 2.65M, respectively. The 4-bed houses are priced higher than the 5-bed units, given their increased demand and limited supply.
Mid-range investors also turned their focus on the villas in Al Furjan:
- Houses for sale in Al Furjan recorded an 11.5% increase in the average price-per-square-foot, reaching AED 1,033 in 2023.
- According to the historical data for villa sales in Al Furjan, the average sales transaction value stood at AED 3.41M, indicating a 20.8% increase.
- The prices for homes in JVC averaged at AED 2.87M for 3-bedroom villas, AED 3.54M for 4-bedroom layouts and AED 5.49M for 5-bedroom units.
Investors with mid-range budgets also showed an inclination towards the houses in The Springs. The sales price-per-square-foot increased by 21.7% to average at AED 1,487.
AREAS WITH HIGH ROI FOR MID-TIER VILLAS
Based on the patterns identified in our Dubai Sales Market Report for 2023, Jumeirah Village Circle has notably distinguished itself, registering an average of 9.75% in projected rental yields. Similarly, Town Square villas offered rental yields of 7.15%. Reem and Mudon exhibited high projected ROIs of 6.98% each.
Besides JVC, sought-after locations like Al Furjan and The Springs presented appealing potential ROIs of 6.51% and 5.96%, respectively.
ARABIAN RANCHES HOLDS THE TOP SPOT FOR BUYING LUXURY HOMES IN DUBAI
REAL ESTATE PRICES IN DUBAI FOR LUXURY VILLAS IN POPULAR NEIGHBOURHOODS: BAYUT DUBAI ANNUAL SALES MARKET REPORT 2023
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022 | TRANSACTION PRICE Avg. Transaction PriceChange from 2022 | 4-BED | 5-BED | 6-BED |
|---|---|---|---|---|---|---|
| Arabian Ranches | ROI 5.55% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 4-BED
| 5-BED
| 6-BED
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| Dubai Hills Estate | ROI 5.53% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 4-BED
| 5-BED
| 6-BED
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| DAMAC Hills | ROI 7.08% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| TRANSACTION PRICE Avg. Transaction PriceChange from 2022
| 4-BED
| 5-BED
| 6-BED
|
In 2023, luxury investors in Dubai displayed considerable interest in Arabian Ranches:
- The sales price-per-square-foot for villas in Arabian Ranches experienced an increase of 9.15%, averaging at AED 1,387.
- According to the sales history for villas in Arabian Ranches, there was a notable 12.2% increase in the average transaction value, which stood at AED 5.54M in 2023.
- For those interested in buying villas in Arabian Ranches, the average prices were around AED 6.31M for 4-bedroom houses, AED 8.63M for 5-bedroom villas and AED 13.2M for 6-bedroom units.
Investors also directed their attention to Dubai Hills Estate for luxury villa acquisitions:
- Villa properties in Dubai Hills Estate recorded an uptick of 20.5% in the average price-per square-foot, which stood at AED 1,905 in 2023.
- The historical data for villas sales in Dubai Hills Estate reported a 14.2% increase in the average transaction value, averaging at AED 7.32M.
- The prices for sale villas in Dubai Hills Estate averaged at AED 5.57M for 4-bedroom units, AED 9.92M for 5-bedroom villas, and AED 28.9M for 6-bedroom units.
Prospective buyers seeking luxury villas in Dubai also explored properties in DAMAC Hills. The average price-per-square-foot for villas for sale in DAMAC Hills reported an increase of 12.7%, averaging AED 1,266.
AREAS WITH HIGH ROI FOR LUXURY VILLAS
According to Bayut’s Dubai Sales Market Report for 2023, an area that notably distinguished itself in terms of ROI, offering an impressive 10.8%. Pearl Jumeirah and DAMAC Hills also boasted high projected rental yields of 7.61% and 7.08%, respectively. Sustainable City recorded average rental yields of 6.94%
Other than DAMAC Hills, among the sought-after locations on Bayut, Arabian Ranches offered a potential ROI of 5.55%, while Dubai Hills Estate registered an average ROI of 5.53%.
The projected ROIs for villas in Dubai may vary depending on the location of the building, its developer and the amenities offered.
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- 1790 SQFT
POPULAR AREAS FOR OFF-PLAN PROPERTIES IN DUBAI
In this section of the 2023 Dubai annual real estate market report, we reveal the areas that have attracted the most consumer attention for off-plan villas and apartments.
TOP PROJECTS FOR OFF-PLAN APARTMENTS IN DUBAI
PROJECT | AREA | CATEGORY |
|---|---|---|
PROJECT AG Square | AREA Dubai Residence Complex | CATEGORY Affordable |
PROJECT Verdana 2 | AREA Dubai Investment Park (DIP) | CATEGORY Affordable |
PROJECT Laya Heights | AREA Dubai Studio City | CATEGORY Affordable |
PROJECT JVC District 10 | AREA Jumeirah Village Circle | CATEGORY Mid-tier |
PROJECT Beverly Boulevard | AREA Arjan | CATEGORY Mid-tier |
PROJECT Se7en City | AREA Jumeirah Lake Towers (JLT) | CATEGORY Mid-tier |
PROJECT Al Habtoor City | AREA Business Bay | CATEGORY Luxury |
PROJECT St. Regis The Residences | AREA Downtown Dubai | CATEGORY Luxury |
PROJECT Emaar Beachfront | AREA Dubai Harbour | CATEGORY Luxury |
In 2023, property buyers in pursuit of reasonably priced off-plan apartments in Dubai primarily favoured suburban communities:
- According to the data compiled for Bayut’s Dubai sales market report 2023, AG Square in Dubai Residence Complex stood out as the most attractive option for affordable off-plan apartments in Dubai.
- Investors also showed interest in Verdana 2 in Dubai Investment Park and Laya Heights in Dubai Studio City for budget off-plan flats in Dubai.
Investors looking for off-plan apartments in the mid-tier segment, mainly gravitated towards master planned districts:
- District 10 in Jumeirah Village Circle emerged as the top choice for off-plan apartments in Dubai’s mid-tier segment.
- The off-plan flats for sale in Beverly Boulevard, Arjan and Se7en City, Jumeirah Lake Towers also appealed to property buyers.
Meanwhile, those seeking luxury off-plan apartments to enhance their portfolio exhibited a preference for centrally located districts:
- Al Habtoor City in Business Bay emerged as the premier choice for prospective investors seeking upscale off-plan flats.
- St. Regis The Residences in Downtown Dubai and Emaar Beachfront in Dubai Harbour also held strong appeal for individuals in search of high-end off-plan apartments.
TOP PROJECTS FOR OFF-PLAN VILLAS IN DUBAI
PROJECT | AREA | CATEGORY |
|---|---|---|
PROJECT Villanova | AREA Dubailand | CATEGORY Affordable |
PROJECT Emaar South | AREA Dubai South | CATEGORY Affordable |
PROJECT Camelia | AREA DAMAC Hills 2 | CATEGORY Affordable |
PROJECT Al Furjan West | AREA Al Furjan | CATEGORY Mid-tier |
PROJECT Elie Saab | AREA Arabian Ranches | CATEGORY Mid-tier |
PROJECT Nad Al Sheba Gardens | AREA Nad Al Sheba 1 | CATEGORY Mid-tier |
PROJECT Alaya | AREA Tilal Al Ghaf | CATEGORY Luxury |
PROJECT District One | AREA Mohammed Bin Rashid City | CATEGORY Luxury |
PROJECT Cavalli Estates | AREA DAMAC Hills | CATEGORY Luxury |
As per the data collected for Dubai Sales Market Report 2023, potential investors in search of affordable off-plan villas predominantly expressed interest in suburban properties:
- Affordable off-plan houses in Villanova, Dubailand emerged as the top choice among investors in 2023.
- Emaar South in Dubai South’s Residential District and Camelia in DAMAC Hills 2 also attracted buyers seeking budget-friendly off-plan villas.
Prospective investors interested in mid-range villas focused their interest on off-plan developments in master-planned suburbs:
- Al Furjan West in Al Furjan was most preferred by investors in search of mid-tier off-plan villas in Dubai.
- Elie Saab in Arabian Ranches and Nad Al Sheba Gardens in Nad Al Sheba 1 were also popular options for mid-range off-plan Dubai villas.
Investors looking for high-end off-plan villas in Dubai, primarily focused on master-planned communities:
- Alaya in Tilal Al Ghaf Dubai attracted the highest investor interest for luxury off-plan villas in Dubai.
- District One in Mohammed Bin Rashid City and Cavalli Estates in DAMAC Hills also appealed to investors seeking expensive off-plan villas in the city.
This concludes our Dubai Annual Sales Market Report 2023. If you’re interested in current rental trends, you can find all the stats in Bayut’s 2023 Dubai Rental Market Report. For even more insightful data, you can utilise Dubai Transactions to stay updated with the transaction values and trends in your preferred areas.
Stay tuned to MyBayut as we’ll be launching our 2023 real estate market reports for Abu Dhabi later this week.
Disclaimer: The above Dubai sales real estate market report (MKTRPTYE2023) is based on prices for ready properties advertised by real estate agencies on behalf of their clients on Bayut.com (excluding room share), and is not representative of actual real estate transactions conducted in Dubai, unless specified as based on DLD data.
