Dubai Property Guide

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Dubai: Areas with the highest real estate transaction value revealed and how an investor could benefit

Real estate transactions have achieved significant growth in the Last nine months of 2023

Real estate transactions in Dubai achieved significant growth in the first nine months of 2023, recording a growth of more than 36.7 per cent in value and 33.8 per cent in number of transactions compared to the same period in 2022. Dubai Land Department data also revealed that 116,116 real estate transactions worth Dh429.67 billion, were recorded in Dubai in this period, a testament to the enduring growth and
adaptability of the emirate’s real estate market
These achievements can be attributed to the city’s rising global profile, exceptional infrastructure and the commitment of Dubai’s visionary leadership to fostering development across sectors.

The Watchlist

In the first nine months of 2023, Al Barsha South Fourth topped the list of top 10 areas based on transactions with 10,351 transactions, followed by Dubai Marina (9,071), Business Bay (7,414), Wadi Al Safa 5 (5,602), Al Mirkadh (5,538), Al Thanyah 5 (5,437), Burj Khalifa (5,220), Al Khiran First (4,567), Hadaeq Mohammed bin Rashid (4,195), and Jebel Ali First (3,737).
The top 10 areas in terms of transactional value include Dubai Marina, which tops the list with transactions worth over Dh36.7 billion, followed by Palm Jumeirah (Dh28.51 billion), Jebel Ali Industrial First (Dh27.93 billion), and Wadi Al Safa 3 (Dh25.33 billion), Business Bay (Dh20.08 billion), Burj Khalifa (Dh17.86 billion), El Merkadh (Dh14.53 billion), AI Khairan First (Dh13.81 billion), Hadaeq Mohammed bin Rashid (Dh13.6 billion), and Jebel Ali First (Dh12.91 billion).
Chalet Newsletter, Novemeber 2023

The Future

  1. Business and Financial Districts: Areas such as Dubai International Financial Centre (DIFC), Business Bay, and Downtown Dubai have traditionally been attractive for professionals and businesses, which could mean a steady demand for rental properties.
  2. Tourist Hotspots: Dubai is known for its tourism, and investing in areas like The Palm Jumeirah, Dubai Marina, and Jumeirah Beach Residence could provide good rental yields due to the high turnover of tourists looking for short-term rentals.
  3. Upcoming Areas: Look for areas where there is new
    development and infrastructure being put in place, as these are likely to grow in value as the projects complete. Examples of such areas in the past have included Dubai Creek Harbour and the expansion areas around Expo 2020 site.
  4. Well-Connected Areas: Locations with good transport links, such as those near the metro, tram lines, or major highways, are usually in high demand. Properties near the upcoming Dubai Metro lines or extensions could see increased value. 5. Residential Communities: Family-friendly communities with good schools, healthcare facilities, and amenities, such as Arabian Ranches, Victory Heights, or The Springs, may have strong long-term growth.
  5. Affordable Luxury: Dubai has a reputation for luxury, but there is a growing demand for affordable luxury.
    Communities that balance quality and price might be particularly appealing for a larger segment of buyers. 7. Waterfront Properties: Properties with waterfront views or access, such as those in Dubai Creek Harbour or along the new Dubai Canal, often come at a premium and are sought after for both rental and resale.
  6. Sustainable and Smart Homes: As environmental awareness increases, properties that offer sustainable living options or smart home technologies might become more attractive to buyers.
    Chalet Newsletter, Novemeber 2023

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