Top areas expected to remain popular in 2023

According to data from Zoom Property Insights, the apartment market recently saw Palm Jumeirah see the biggest price increase of 5%. MBR City, Meydan City, and Living Legends came after it. The average house price increased in all of these localities by 4.7%.

Emirates Hills saw the largest rise of 4.6% in the number of villas. Other significant areas included Mudon (4.1%), Jumeriah Village Circle (3.9%), and MBR City (3.1%).

The Old Town, Dubailand Residence Complex, Green Community (DIP), and Downtown Dubai had the highest rental apartment occupancy rates at 4.9%, 4.6%, 4.5%, and 4.4%, respectively.

The Sustainable City (4.9 percent), DAMAC Hills (Akoya) (4.8 percent), The Villa (4.8 percent), and Reem (4.7 percent) remained the popular choices for renting villas.

Besides the aforementioned areas Jumeriah, JBR, Arabian Ranches, and Dubai Marina are expected to drive the property market in 2023.