Looking for real estate investment or a luxury home in Dubai, but have no idea about property prices and real estate trends. Don’t worry, you can find everything in this blog, without visiting Dubai.
At the beginning of 2023, British, Russian, and Indian nationals emerged as the primary buyers in Dubai's real estate market. This trend highlights the strong interest of foreigners and expatriates in Dubai's thriving real estate sector. As the market continues to flourish, numerous individuals are contemplating investment opportunities in the coming months or even the next year, eagerly seeking information about property prices.
Yes, it is true that there are many articles available on the web where you can get the idea of property price. Most of the articles only reveal the estimated average price of overall Dubai Properties.
But here we are providing a deep insight of Dubai Property Price, diversificated according to different communities and property types.
Before going into the deep it is very important to get the basic idea of Dubai Properties and sale trends in the best communities.
Top 5 performing areas in the 1st Quarter 2023
|
Communities |
Sales Volume (Transactions) |
Sales Value |
|
Dubai Marina |
2274 |
AED 7690 Million |
|
Damac Lagoons |
1351 |
AED 4305 Million |
|
Business Bay |
2392 |
AED 4292 Million |
|
Dubai Creek Harbour |
1758 |
AED 4277 Million |
|
JVC |
3292 |
AED 2496 Million |
This table provides information on the top five performing areas in the first quarter of 2023 based on sales volume and sales value in Dubai, UAE. Here's a breakdown of this table:
Now let's analyze the data for each community:
Dubai Marina: In the first quarter of 2023, Dubai Marina had 2,274 sales transactions, with a total sales value of AED 7,690 million.
Damac Lagoons: Damac Lagoons witnessed 1,351 sales transactions, generating a sales value of AED 4,305 million.
Business Bay: With 2,392 sales transactions, Business Bay recorded a sales value of AED 4,292 million.
Dubai Creek Harbour: Dubai Creek Harbour had 1,758 sales transactions, contributing to a sales value of AED 4,277 million.
JVC (Jumeirah Village Circle): JVC had the highest number of sales transactions among the top-performing areas, with 3,292 transactions. However, its sales value was relatively lower at AED 2,496 million compared to the other areas.
These figures indicate the level of real estate activity and market performance in each community during the specified period. It can be inferred that Dubai Marina had the highest sales value, while JVC had the highest number of transactions but a comparatively lower sales value.
Top 5 performing areas in the 2nd Quarter 2023
|
Communities |
Sales Volume (Transactions) |
Sales Value |
|
Dubai Marina |
3179 |
AED 12045 Million |
|
Downtown Dubai |
1388 |
AED 4864 Million |
|
Business Bay |
1496 |
AED 2635 Million |
|
Dubai Hills Estate |
1349 |
AED 2561 Million |
|
JVC |
3016 |
AED 2428 Million |
Based on the provided table, here are the top 5 performing areas in the second quarter of 2023:
Dubai Marina: It retained its position as the top-performing area with 3,179 sales transactions and the highest sales value of AED 12,045 million.
Downtown Dubai: This area had 1,388 sales transactions, with a sales value of AED 4,864 million.
Business Bay: With 1,496 sales transactions, Business Bay generated a sales value of AED 2,635 million.
Dubai Hills Estate: It recorded 1,349 sales transactions, contributing to a sales value of AED 2,561 million.
JVC (Jumeirah Village Circle): JVC continued to be among the top-performing areas with 3,016 sales transactions, but a sales value of AED 2,428 million, which was relatively lower compared to the other areas.
These figures indicate the strong real estate performance in these areas during the second quarter of 2023, with Dubai Marina once again leading in terms of both sales volume and sales value. Downtown Dubai also showed strong performance in terms of sales value, while Business Bay, Dubai Hills Estate, and JVC demonstrated notable sales volume.
So, this is all about the top communities and their real estate market performance in Dubai. Let’s explore every community in Dubai in detail with property types and prices.
Dubai Marina stands proudly as an exquisitely crafted residential enclave, meticulously developed by the renowned Emaar group. Within this thriving community, a treasure trove of opulent apartments awaits discerning individuals seeking a remarkable living experience.
These luxurious abodes, ranging from cozy studios to expansive 4-bedroom configurations, offer generous living spaces that redefine the meaning of comfort and grandeur. Moreover, these apartments are accompanied by an array of lavish amenities, ensuring an indulgent lifestyle beyond comparison.
Some of the best off-plan residential projects in Dubai Marina are:-
Apartments Price in Dubai Marina 2023
|
Unit Type |
Average Price |
ROI |
|
Studio |
AED 682,269 |
7.60% |
|
1 Bed |
AED 2,359,545 |
7% |
|
2 Bed |
AED 3,750,000 |
6.10% |
|
3 Bed |
AED 5,824,548 |
6% |
Owning a villa or townhouse in the prestigious Damac Lagoons Dubai is a cherished aspiration for many. These exceptional residences embody not only lavishness but also offer a splendid Mediterranean-style lifestyle in one of Dubai's most coveted locales. Notably, residing in this esteemed community grants swift access to other prominent areas of Dubai, allowing for seamless exploration and connectivity.
Here, both astute investors and discerning homebuyers can select from a remarkable range of 3 to 6-bedroom villas and townhouses, boasting expansive floor plans and private amenities. Moreover, the allure of purchasing a unit exceeding AED 2 Million lies in the opportunity to apply for a coveted 10-year Golden Visa, presenting an exclusive advantage to residents.
Undoubtedly, the demand for these captivating villas and townhouses in Damac Lagoons remains perpetually high, drawing expatriates and international residents who seek a resplendent dwelling amidst verdant environs, water bodies, and an array of recreational pursuits. The property price of DAMAC Lagoons is given below:
Villa/Townhouses Price in DAMAC Lagoons 2023
|
Unit Type |
Average Price |
Expected ROI |
|
2 Bed |
AED 1,850,000 |
NA |
|
3 Bed |
AED 2,000,000 |
NA |
|
4 Bed |
AED 2,220,000 |
NA |
|
5 Bed |
AED 3,000,000 |
NA |
|
6 Bed |
AED 6,400,000 |
NA |
Envisioned initially as a bustling commercial hub, Business Bay has evolved into one of Dubai's most captivating districts, seamlessly merging with the vibrancy of Downtown Dubai. Today, this dynamic community stands proud, hosting an array of exceptional hotels, commercial ventures, and residential marvels, including luxurious studios and apartments.
A notable highlight of Business Bay's residential offerings is the abundance of canal-facing apartments that grant breathtaking waterfront vistas. These meticulously crafted abodes invite residents to indulge in a world of serenity while relishing the captivating allure of the shimmering waterways.
Beyond its remarkable skyline, Business Bay epitomizes the convergence of business and leisure, creating an atmosphere brimming with energy and opportunity. It has emerged as an irresistible destination where residents and visitors alike can experience the perfect blend of sophistication, convenience, and luxurious living.
Apartments Price in Business Bay 2023
|
Unit Type |
Average Price |
Expected ROI |
|
Studio |
950,000 |
7% |
|
1 Bed |
1,346, 320 |
5.60% |
|
2 Bed |
1,914,475 |
5.80% |
|
3 Bed |
3,026,350 |
5% |
|
4 Bed |
23,250,000 |
NA |
Nestled within the visionary portfolio of Emaar Properties, this esteemed community stands as a testament to their unwavering commitment to development and excellence. The allure of real estate investment in this captivating destination extends far and wide, offering a plethora of profitable opportunities. If you seek a comprehensive understanding of the advantages awaiting discerning investors, we invite you to peruse our enlightening blog titled " Is Dubai Creek Harbour A Good Investment? "
Within this remarkable locale, an exquisite range of 1 to 4-bedroom apartments awaits, each thoughtfully designed to embody the epitome of luxurious living. These residences boast an array of exceptional features, ensuring an unrivaled living experience that surpasses expectations.
With its stellar reputation, remarkable offerings, and the promise of a prosperous investment, this community beckons astute individuals seeking to seize the boundless potential of the real estate market.
Apartments Price in Dubai Creek Harbour 2023
|
Unit Type |
Average Price |
Expected ROI |
|
1 Bed |
1,417,888 |
6.50% |
|
2 Bed |
2,093,888 |
6.20% |
|
3 Bed |
3,551, 888 |
5.80% |
|
4 Bed |
6,853,957 |
6.20% |
Nestled amidst serene surroundings, this captivating community is meticulously designed to provide a haven of tranquility and comfort, perfect for families seeking an idyllic lifestyle. Boasting an impressive collection of villas, townhouses, and select apartment developments, Jumeirah Village Circle offers an exceptional range of amenities and facilities that cater to every need.
With an unwavering commitment to enhancing the quality of life, Jumeirah Village Circle presents a self-contained environment, beautifully crafted to provide residents with modern conveniences within a peaceful village setting. Immerse yourself in a seamless blend of urban living and natural serenity, where the charms of a city lifestyle harmoniously coexist with the tranquil surroundings.
Thoughtfully designed to cater to the needs of every family member, Jumeirah Village Circle features an abundance of green parks, interspersed with sports fields, schools, and mosques, ensuring that all essential elements for a fulfilling life are within easy reach. Delight in a harmonious blend of nature and urban comforts, as this remarkable community provides a nurturing haven for families to thrive and flourish.
Apartments Price in Jumeirah Village Circle 2023
|
Unit Type |
Average Price |
Expected ROI |
|
Studio |
542,159 |
7.50% |
|
1 Bed |
838,613 |
7.60% |
|
2 Bed |
1,159,804 |
5.80% |
|
3 Bed |
1,880,000 |
7.10% |
Villas/Townhouses Price in Jumeirah Village Circle 2023
|
Unit Type |
Average Price |
Expected ROI |
|
3 Bed |
1,850, 000 |
7.60% |
|
4 Bed |
2,500,000 |
5.90% |
|
5 Bed |
3,000,000 |
7.20% |
Nestled in a highly sought-after locale, Dubai Hills Estate boasts an enviable central position, placing it in close proximity to renowned destinations such as Downtown Dubai and Dubai Marina. With its prime location nestled between Al Khail Road and Emirates Road, residents of Dubai Hills Estate enjoy swift and convenient access to the rest of the city, ensuring seamless connectivity for both work and leisure.
While considering the purchase of a ready-to-move-in property in this vibrant community, it is important to be aware of potential temporary challenges stemming from ongoing construction work. Additionally, the current phase may present an under-developed infrastructure and a limited range of amenities. However, it's crucial to recognize that these limitations are part of a transitional phase that will gradually transform into a thriving district upon completion.
As Dubai Hills Estate progresses towards its vision of an exceptional living destination, residents can look forward to a future brimming with promising prospects. The evolution of the community will bring forth an array of amenities, a well-developed infrastructure, and an enriched living experience. Patience and foresight will be rewarded as Dubai Hills Estate blossoms into a flourishing haven of convenience and comfort.
Apartments Price in Dubai Hills Estate 2023
|
Unit Type |
Average Price |
Expected ROI |
|
Studio |
858,895 |
6.70% |
|
1 Bed |
1,263,888 |
6.90% |
|
2 Bed |
1,600,000 |
7.20% |
|
3 Bed |
3,332,888 |
6.60% |
|
4 Bed |
4,600,000 |
3.80% |
Dubai's real estate market is poised for remarkable growth, projected to surpass AED 300 billion by year-end. A prominent real estate agency in Dubai, Unique Properties, has highlighted a robust surge expected in the sector during the latter half of 2023. Comprehensive data reveals substantial advancements in both the residential and commercial segments throughout 2023 compared to the previous year.
The residential market, achieving outstanding momentum, recorded an impressive AED 93 billion in sales during the first half of the year, marking a remarkable 46.7% surge from 2022. Concurrently, the commercial sector experienced a noteworthy 30% leap from 2022, reaching a significant milestone of AED 2.86 billion in sales.
The trajectory of Dubai's real estate market is poised for continuous expansion in the foreseeable future, with foreign investors assuming a crucial role in its growth. Several factors contribute to this optimistic outlook, including a flourishing tech boom that fuels support for startups and propels Dubai towards becoming a prominent global innovation hub.
Moreover, the unwavering backing from the government, coupled with substantial infrastructure initiatives like the expansion of the metro's red line and enhancements to roads and bridges, will persistently invigorate economic growth, unlock abundant business prospects, and entice further investments.
In conclusion, the real estate market in Dubai has experienced significant growth and has garnered strong interest from both local and international buyers. The data provided for the first and second quarters of 2023 highlights the top-performing areas in terms of sales volume and sales value, with Dubai Marina consistently leading the market. The analysis of each community, including Dubai Marina, Damac Lagoons, Business Bay, Dubai Creek Harbour, and JVC, provides valuable insights into the property types and prices in these areas.
