Dubai Property Trends: Areas with the Best Potential for Price Gains

30 Oct, 2023

Dubai Property Trends: Areas with the Best Potential for Price Gains

As per Realiste AI, a proptech platform, the property market in Dubai showcases areas with varying levels of forecasted price growth for the upcoming quarter. Among these areas, Bukadra Part 2 stands out with the highest expected price increase, reaching 8.12 percent in Q4 2023. Notably, this region is marked by new construction developments, and while annual rental yield analytics are currently in progress, it's already evident that the lowest average price per square meter is found in 3BR units, priced at 22,497 Dh, while the highest is in 1BR units, valued at 24,919 Dh. Projections suggest that the average price for 1BR units will grow to 24,323 Dh, and for 3BR units to 26,941 Dh.

Sobha Hartland follows closely with a forecasted average price growth of 8.05 percent. Analytical insights are available for four unit types in this area, and the annual rental yield remains consistent across them. Notably, studio units exhibit a slightly higher yield of 5.7 percent. The pattern extends to the average price per square meter, with 3BR units commanding the highest price and Studio units with the lowest, starting at 20,387 Dh.

Al Warsan First is anticipated to experience a price increase of 6.99 percent in the next quarter. Among unit types, 3BR units offer the highest annual rental yield at 7.6 percent, while 1BR units yield the lowest at just 3 percent. The average price per square meter reflects this discrepancy, with 3BR units starting at only 6,318 Dh, while other units begin at 10,420 Dh.

In Dubai Harbour, the average price for units is expected to grow by 6.18 percent in Q4 2023. The buildings in this area are highly rated at 98 percent, with a development level of 2.4 percent. Similar to Al Kheeran, Dubai Harbour provides data for 1BR, 2BR, and 3BR units. 1BR units offer the highest annual rental yield at 5 percent, on par with 2BR units. The highest average price per square meter is observed in 3BR units, priced at 42,001 Dh.Meanwhile, in Al Kheeran, also known as Dubai Festival City, the forecast indicates a 5.58 percent increase in the average price per square meter for the next quarter. Data is available for 1BR, 2BR, and 3BR units. Notably, the most favorable option in this area is the 1BR unit, offering an impressive rental yield of 7 percent, surpassing the 2BR and 3BR units with yields of 4.5 percent and 5.1 percent, respectively. This data provides valuable insights for investors and homeowners looking to navigate Dubai's dynamic property market.