Dubai’s elite districts showed the most spectacular growth in demand this year, as investors prefer to invest in spacious and comfortable real estate.
According to the price index of the real estate consulting company ValuStrat, villas and apartments in prestigious areas of Dubai, such as Palm Jumeirah, Arabian Ranches, Dukes, Emirates Hills, showed double-digit growth in prices and transactions in November.
Year-on-year prices for villas in Arabian Ranches increased by more than 34%. Lakes is slightly lower in numbers, with a 31.2% increase. Zoom Property Insights notes that the elite areas of Dubai are in demand due to their convenient location and developed infrastructure.
The company’s latest analysis showed that Dubai Marina, Business Bay, and Jumeirah Village Circle remained one of the most sought-after areas for housing purchases in Dubai in the budget segment. At that time, Palm Jumeirah, Arabian Ranches, and Lakes were also in demand in the luxury real estate category.
Ata Shobeiry, CEO of Zoom Property, believes that property buyers with a limited budget often prefer inexpensive suburban areas. However, communities close to Expo 2020 are also popular, regardless of pricing policy.