According to a study by Property Finder, in October 2023, the value of home sales transactions in the Dubai real estate market increased by 80% compared to October last year, with 7,128 transactions worth AED 27B (USD 8.1B). This figure is 17% ahead of the values of 2022. Experts noted that 60% of buyers were interested in apartments, and the remaining 40% bought villas and townhouses.

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Sales growth in the Dubai real estate market in October 2023

PUBLISHED: NOVEMBER 10, 2023

Dubai Marina leads in the ranking in terms of apartment sales, as it managed to surpass Jumeirah Village Circle, Business Bay, Downtown Dubai and Jumeirah Lakes Towers. In the ranking of the most popular areas for buying villas and townhouses, Dubai Hills Estate came out on top. In second and third places were Arabian Ranches and Palm Jumeirah.

In the rental sector, 82% of tenants preferred apartments, while 18% preferred townhouses and villas. Experts believe that such a gap is caused by the difference in cost and increased interest in housing with a small area.

In October 2023, Dubai Marina became the most popular area for renting apartments, followed by Jumeirah Village Circle and Business Bay. According to the study, 36% of tenants were interested in one-bedroom apartments, 30% wanted 2-bedroom apartments, and 24% were looking for studios. For villas and townhouses, preference was given to three-bedroom residences, with 43% of tenants looking for this type of property, while the remaining 57% of requests were for housing with four bedrooms or more. More than 67% of renters are looking for furnished properties to rent.

The popularity of Dubai Marina in the Dubai real estate market is due to a good selection of options for both buying and renting. The advantageous location and cost of residences allowed the area to take a leading position in the overall rating.