2023 UAE Real Estate Sector Report: Demand and Trends in Dubai and Abu Dhabi

The real estate sector in the UAE has seen significant growth and positive trends in 2023, according to dubizzle’s Dubai and Abu Dhabi Annual Property Market Report. The report highlights strong demand and high rental yields across both emirates, indicating a booming nature in the UAE’s leading property markets.

Haider Khan, CEO of dubizzle, emphasized the positive findings in the report, stating that 2023 has been a defining year for UAE real estate. The data gathered from property seekers on dubizzle showed over 77 million page views for listings in Dubai and nearly 14 million page views for Abu Dhabi, reflecting the market’s strength and positive sentiment.

Dubai’s real estate sector experienced another prosperous year in 2023, with business-friendly policies attracting more tenants to the market. The report identified 2023 as the ‘Year of Affordable Villas’, with an increase in affordable villa rentals by 16.64%. Areas like DAMAC Hills 2, Mirdif, and JVC saw steady popularity with villas offering annual rents below Dhs 200,000.

Luxury apartments also saw a growing trend in Dubai, with Dubai Marina maintaining its status as the top luxury area for apartment rentals. Business Bay and Downtown Dubai saw substantial increases in average yearly rent for apartments, indicating a demand for high-end living in the city.

In Abu Dhabi, popular areas saw rent decreases, making it an appealing destination for those seeking affordable rents. Luxury living is on the rise in Abu Dhabi, with areas like Al Reem Island and the Corniche Area witnessing significant increases in luxury apartment rentals.

Overall, the real estate market in the UAE is showing positive signs of growth and stability, attracting both investors and renters looking for diverse opportunities in the market.