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According to statistics, in the real estate market of the United Arab Emirates, villas and apartments of the middle price segment have become the most in demand. Previously, luxury-category real estate was the most in demand.
Analysts note that the most popular were two- and one-bedroom apartments, as well as medium-priced villas and townhouses. It is also noted that buyers are increasingly choosing areas with ready-made infrastructure, including parks, schools, hospitals, etc. Often such buyers are young families and unmarried young people building a career. Neither of them can afford luxury real estate, which is why a request for affordable housing has begun to form.
Average-priced real estate also attracts investors with its affordability and stable, albeit not so high, income. In addition, due to the growing rent, more and more people prefer to buy a home with a mortgage.
According to statistics, from January to May 2023, 50,705 real estate transactions totaling AED 149.4 billion ($40.68 billion) were made in Dubai. The most popular were the freehold zones of the emirate, which allow foreigners to buy real estate in the property. At the same time, 14,185 transactions totaling AED 53.1 billion ($14.46 billion) are mortgage.
In Q1 2023, 5,472 real estate transactions totaling AED 27.9 billion ($7.6 billion) were made in Abu Dhabi. Among these mortgage transactions - 1,954, totaling AED 6.9 billion ($1.88 billion).
