Dubai and Abu Dhabi Witness Rising Demand in Real Estate

The real estate sectors in Dubai and Abu Dhabi are currently experiencing a robust influx of demand, underscored by significant rental returns, as per a recent analysis. This upswing is reflective of the sectors’ enduring vibrancy and growth, offering a lucrative canvas for investors, homeowners, and visitors.

A report from a premier property portal highlighted a noticeable uptrend for budget-friendly villas and opulent flats in Dubai, paralleled by Abu Dhabi’s competitive rental rates and impressive investment returns.

Insights derived from Dubizzle’s 2023 engagement metrics, including site visits and user interactions, affirm a bullish sentiment in the property market, buoyed by the UAE’s promising economic climate and its appeal as a residential and commercial hub.

Dubizzle’s CEO, Haider Khan, emphasised the report’s affirmation of the platform’s industry prominence and its insights into the UAE’s flourishing real estate domains. He pointed out that the substantial page views recorded on Dubizzle underscore the market’s upward trajectory.

The year 2023 was marked by a significant tilt towards economical villas, particularly in Dubai, where there was a marked uptick in the leasing of standalone residences. The report identified a notable demand for villas in locales such as Damac Hills 2, Mirdif, and JVC, with rents remaining within an affordable range. Conversely, Al Barsha continued to attract those in search of expansive, secluded homes, with rentals peaking at notable rates.

Remarkable rental hikes were observed in areas like Dubailand and Al Barsha, while apartment rents in JVC and Damac Hills also saw impressive increases. The allure of luxurious apartments persisted, with Dubai Marina leading the pack in high-end apartment rentals, reflecting a continuous preference for upscale living.

For budget-friendly apartment choices, Jumeirah Village Circle took the lead, with Dubai Silicon Oasis and International City also being preferred. In terms of investment returns, Liwan and Green Community stood out, promising attractive yields.

The analysis also spotlighted Dubai Hills Estate as a hotspot for luxury villa seekers, registering a significant search volume increase. On the contrary, Abu Dhabi showcased a unique trend, with popular locales witnessing rent reductions, presenting a cost-effective option for tenants.

The luxury apartment segment in Abu Dhabi displayed growth, particularly in Al Reem Island, signifying a surge in the quest for premium accommodations. The ROI metrics presented Abu Dhabi as a favourable market for investments, with Al Mariyah Island and Al Reef leading in their respective categories.

This comprehensive report not only delineates the current state of the real estate market in the UAE but also serves as a beacon for potential investors and residents, indicating a thriving and lucrative sector.

Original article reference: Khaleej Times


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