Bayut – Dubai property – Sales and rental market report for H1 2023

Bayut – Dubai property – Sales and rental market report for H1 2023

Dubai, UAE : Bayut, the UAE’s leading property portal, has released its Dubai Property Market Report for H1 2023, revealing the areas most searched for in the emirate’s real estate sector. Based on the consumer search trends observed on the portal, prices in Dubai’s property sector have continued to increase across popular districts, making the market favourable for landlords and sellers. This continued boom in property prices has been fueled by strong demand among local and overseas property seekers for luxury and affordable properties in Dubai. Based on the data from Bayut, sales prices for villas and apartments in the most-searched-for neighbourhoods of Dubai have recorded upticks of 1% to 17% in H1 2023. Potential investors looking for affordable villas and apartments have shown keenness for areas such as Jumeirah Village Circle (JVC), Jumeirah Lake Towers, DAMAC Hills 2 and Al Furjan, whereas prospective high net-worth investors have focused on luxury properties in Dubai Marina, Downtown Dubai, Arabian Ranches and Dubai Hills Estate in H1 2023. Rental prices for affordable apartments in Dubai’s popular districts have increased by up to 17%, while the cost of renting luxury apartments has significantly appreciated by up to 32% . Reasonably-priced villas in popular