Average Costs of Real Estate in Dubai in 2023

The price is what concerns each real estate buyer, as this investment should be a well-considered decision. In Berstoun Real Estate, we do understand these concerns and provide our clients and readers of our blog with truthful and relevant information about Dubai house prices.

Dubai Property Price Trends in 2023 and the Future

Firstly, let’s think a bit about Dubai property price trends. Since the boost of the city’s development, they remain affordable for local and offshore investors, yet, after the pandemic of 2020 emerged, an increase in pricing was detected. In the next two years, this trend will remain stable, adding costs to pricing annually by at least 3-5%.

Additionally, it is important to say the demand for rental properties in Dubai considerably increased in recent years due to geopolitical processes. This created the trend for rental pricing increases, which is beneficial for real estate owners.

These trends assume the whole market development in Dubai and due to them, real estate prices in Dubai tend to grow. So it is better not to wait long for their increase and invest in prospective real estate objects today.

Current Pricing for the Main Property Types in Various Freehold Zones in Dubai

Dubai's property prices are shaped by multiple factors, with the most significant ones as follows:

  • Property type: studio apartments are typically the cheapest, while penthouses and villas require top-dollar investments.
  • The condition of housing: resale properties cost less than primarily real estate, but off-plan units provide more flexible and affordable prices than these two options.
  • The number of amenities which are available for homeowners. Residential towers with deluxe roof pools and exclusive terraces with vertical green designs cost more than typical middle-raise units with a community pool and a park within a 10-minute walk. Individual jacuzzis, personal elevators, and exclusive gyms also add costs.
  • Location of the property. The best offers are located in the so-called New Dubai, an area of intense development and high-end residential constructions. Yet, the prices can be high. Let’s consider average costs in several deluxe freehold zones where you can buy property as a foreigner.

1. Business Bay is the center of the whole business life of Dubai. Its impeccable infrastructure, numerous luxury towers, and good transportation lead to the following Dubai house prices in the district:

  • Studios – from 870,000 AED
  • Apartments – from 1,333,000 AED
  • Villas – from 2,900,000 AED
  • Penthouses – from 3,600,000 AED

2. Dubai Marina is the best central seascape district with a diverse range of property types and exclusive beach areas.

  • Studios – from 1,250,000 AED
  • Apartments – from 1,800,000 AED
  • Villas – from 2,950,000 AED
  • Penthouses – from 4,300,000 AED

3. Jumeirah Village Circle is one of the most family-friendly neighborhoods offering spacious and calm units for sale.

  • Studios – from 460,000 AED
  • Apartments – from 750,000 AED
  • Villas – from 2,100,000 AED
  • Penthouses – from 1,950,000 AED

4. Palm Jumeirah is a true exclusive for investors, with numerous housing located on man-made islands and a peninsula of a palm shape.

  • Studios – from 1,500,000 AED
  • Apartments – from 4,333,000 AED
  • Villas – from 5,000,000 AED
  • Duplexes – from 11,500,000 AED
  • Penthouses – from 5,000,000 AED

5. International City – the best place for new expats where mostly relocated investors are living.

  • Studios – from 300,000 AED
  • Apartments – from 800,000 AED
  • Villas – from 1,400,000 AED

As you can see, pricing is flexible for the Dubai real estate sector. And it is quite possible to get a profitable offer with a price below average, even in the most sought-after neighborhood. To get such an offer, you do not need any effort. Just get our agency’s services and we will provide you with them.

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