Dubai’s real estate market performed exceptionally well during the first half, driven by strong demand and increased investor confidence as high investment returns of up to 10% boosted real estate demand across the region.
Dubizzle’s search trends analysis showed that Arabian Ranches 3 recorded the highest ROI of 6.42% for luxury villas, while luxury apartments in Dubai Creek Harbour recorded 6.49% in the first half of 2024.
Dubai Silicon Oasis has attracted the attention of those interested in buying mid-priced apartments, due to offering the highest return on investment at around 9.19%, and for mid-priced villas, Damac Hills 2 (Akoya by Damac) achieved the highest return on investment at 7.25%.
Dubai Marina, Business Bay and Downtown Dubai topped the list of most sought-after areas for luxury apartments in Dubai, with an ROI of 6.43%. According to the report, buyers looking for mid-range apartments showed interest in Jumeirah Village Circle, International City and Dubai Silicon Oasis. With an average price of AED 1.09 million, apartments in JVC achieved a 7.91% return on investment.
Dubai Hills Estate, Palm Jumeirah and Damac Hills emerged as the most sought-after areas for luxury villa buyers in Dubai. Villas in Dubai Hills Estate achieved an ROI of 4.64% and an average price of AED 15.99 million, while the price per square foot in the area increased by 4.95% to AED 2,404 in the first half. Dubizzle added: Those looking to buy mid-range villas headed to Damac Hills 2 (Akoya by Damac), Dubailand and Jumeirah Village Circle. With an average price of AED 1.93 million, villas in Damac Hills 2 (Akoya by Damac) achieved an ROI of 7.25% and the price per square foot in the area increased by 5.71% to AED 763.