Data from the Dubai Real Estate industry show that deals in Dubai’s real estate market exceeded $24 billion (AED 88.73 billion) in the first quarter of 2023, a 60% increase from the same time last year.
dubai real estate news In the upcoming two quarters, experts anticipate a rise of 10% to 12%, indicating that Dubai’s real estate market will continue to expand.
invest in dubai real estate The rising demand for properties that are both moderately priced and affordable, as stated by Adil Akhtar, CEO and Founder of Foremen Fiefdom, a Dubai-based real estate investment company, will result in an expansion of the city’s real estate market.
The expansion seen in the first quarter, according to a number of experts, will continue throughout the year. Adil says that sales of villas, townhouses, and apartments increased by 12.4% and 35.5%, respectively, indicating a strong demand for housing.
Adil added that buyers are increasingly choosing villas and townhouses, which provide more space and privacy, as a type of residence. The COVID-19 pandemic is to blame for this shift in priorities because people now want their own place to work, study, and unwind.
Adil went on to say that properties between AED 500,000 and AED 1,000,000 are in high demand due to buyers’ preference for properties at reasonable dubai real estate prices .