The Dubai real estate sector has seen staggering growth in 2022. High investor demand and increased rental occupants have led to an increase in property prices in the city.
The real estate sector transactions saw a double-digit increase of 76.5 % from 2021. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said, “The exceptional performance of the real estate sector reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai one of the world’s top three cities.
Palm Jumeirah was one of the areas with the most expensive properties as well as property rate increases, majority of the top 10 residential transactions in Q4 of 2022 was also located on the island.
Alongside the ultra-luxury properties and expensive areas in the emirate, there are various popular neighbourhoods that contrast this by being the most affordable to live in, according to Bauyt’s rental market report.
Affordable villas and apartments in Dubai
Most affordable areas to rent apartments
- Jumeirah Village Circle (JVC)
- Bur Dubai
- Deira
Most affordable areas to rent villas
- DAMAC Hills 2
- Mirdif
- Dubailand
Most affordable areas to buy apartments
- Jumeirah Village Circle (JVC)
- Jumeirah Lakes Towers (JLT)
- Dubai Silicon Oasis
- Dubai Sports City
- International City
Most affordable areas to buy villas
- DAMAC Hills 2
- Jumeirah Village Circle (JVC)
- Dubailand
- The Springs
- Al Furjan
Popular areas with the highest ROI – apartments
- Jumeirah Lake Towers (JLT) – 8.02 percent
- Dubai Sports City – 8.08 percent
- International City – 9.22 percent
Popular areas with the highest ROI – villas
- DAMAC Hills – 6.95 percent
- Jumeirah Village Circle (JVC) – 6.90 percent
- Dubai Hills Estate – 6.17 percent
According to the search trends observed by Bayut, Jumeirah Village Circle has continued to be the most attractive option for affordable apartments in Dubai.