Dubai’s popular residential areas record hike in price, demand

Dubai’s popular residential areas record hike in price, demand

Damac Lagoons, Arabian Ranches 3, Al Yelayiss 2. Nad Al Sheba First, and The Valley remained popular among villa buyers

Jumeirah, Palm Jumeirah, and Downtown Dubai recorded the highest increase in the apartment market.

Published: Wed 15 Mar 2023, 5:47 PM

Jumeirah Village Circle, Business Bay, and Dubai Marina are the most preferred areas to buy property in Dubai as the market remains on track for a strong first quarter with February proving to be a record-breaking month with a total of 8,515 transactions, real estate analysts said.

Damac Lagoons, Arabian Ranches 3, Al Yelayiss 2. Nad Al Sheba First, and The Valley remained popular among villa buyers while for apartments JVC, Dubai Marina, Business Bay, and Dubai Creek Harbour are the preferred choice, according to Zoom Property Insights.

Jumeirah, Palm Jumeirah, and Downtown Dubai recorded the highest increase in the apartment market while Palm Jumeirah, Emirates Hills, and Jumeirah recorded the highest jump in terms of price per square foot for villas.

The off-plan market is driving Dubai real estate as it recorded a little over 78 per cent increase in sales. In comparison, the secondary market jumped by 18.8 per cent, Zoom Insights report said.

The Insights data also disclosed that a total of 17,741