The demand for larger apartments and villas in Dubai is on the rise as more young families are transitioning to ownership and relocating to the city. Data from Property Finder shows that most buyers are looking for two-bedroom apartments and four-bedroom or larger villas. This trend is being driven by residents wanting to own property to avoid rising rents, as well as foreign investors and businessmen relocating to Dubai with their families. In August, 59% of property buyers were searching for apartments, while 41% were interested in villas and townhouses.
Property Finder’s Chief Revenue Officer, Cherif Sleiman, highlighted the growth in Dubai’s real estate sector in August. He noted that demand is diverse, with younger families seeking community-focused living options, while luxury demand is also increasing. The influx of ultra-high-net-worth individuals expected in the coming years is also contributing to the growth in the luxury segment. This indicates a growing demand for larger units as more families are looking to settle in Dubai long-term.
Popular areas for property ownership in Dubai include Jumeirah Village Circle (JVC), Dubai Marina, Downtown, Business Bay, and Palm Jumeirah. For villas and townhouses, Dubai Hills Estate, Al Furjan, Palm Jumeirah, Damac Hills 2, and Dubai South are among the most desired areas. The growth in demand for property ownership, especially in the off-plan segment, can be attributed to the increasing population in Dubai, which has grown by 115,327 so far this year.
In terms of rentals, the rising population in Dubai is also driving demand for rental properties. Nearly 79% of tenants are seeking apartments, while the remaining are considering villas and townhouses. The majority of tenants prefer furnished properties, while in the villa and townhouse category, unfurnished properties are more popular. One-bedroom units are in high demand for rentals, followed by two-bedroom apartments and studios. Popular areas for renting apartments include Dubai Marina, Jumeirah Village Circle, Downtown Dubai, Business Bay, and Jumeirah Lakes Tower.
In August, transaction values in Dubai remained at par with the highest peak recorded in May. A total of 16,163 transactions were recorded, representing a 37% increase compared to the same month last year. The value of these transactions increased by 38% to Dh47.2 billion. The growth in both property ownership and rentals indicates a positive outlook for Dubai’s real estate market, driven by a combination of factors such as population growth, demand from investors and families, and a diverse range of housing options catering to different preferences and budgets.Overall, the real estate sector in Dubai continues to thrive, with sustained growth expected in the coming months.
