In 2024, finding a property to rent or buy in Dubai has become increasingly challenging due to the significant rise in prices in recent years. Many residents are struggling to find value for their money in this fast-changing market. However, Property Finder has provided a dataset that could assist individuals in navigating this complex real estate landscape.
The company has shared a table ranking the most expensive to least pricey property listings on its website. This ranking was compiled using the DataGuru Price Map tool, which analyzes apartments and villas in various areas of Dubai based on their average rental and sales prices over the past three months. According to Fouad Bekkar, VP for data and AI at Property Finder, this tool is backed by a comprehensive dataset comprising millions of data points from property transactions, rental agreements, and listings across Dubai.
Despite the challenges posed by the escalating prices, the property market in Dubai shows no signs of cooling. In the first half of 2024, the Emirate’s real estate sector witnessed a year-on-year volume growth of over 30%, as reported by Property Monitor. Bekkar emphasized that this trend continues to persist, attributing it to Dubai’s strategic location as a global hub, world-class infrastructure, government initiatives like the golden visa scheme, and sustained demand for high-quality properties in prime locations.
Using the data provided by Property Finder, Gulf Business has analyzed and ranked the most expensive to least expensive property rentals and sales prices in Dubai. The list includes popular areas such as Bluewaters, Arabian Ranches, Springs, JBR, Umm Suqeim, DIFC, Downtown Dubai, Jumeirah, Dubai Creek Harbour, Dubai Marina, and many more. The average rental and sales prices for one-bedroom properties in these areas vary significantly, reflecting the diverse real estate landscape in Dubai.
It is important to note that some locations, such as Al Habtoor City, The Lakes, Ras Al Khor, Bur Dubai, and Karama, have no available data in the dataset provided by Property Finder. This highlights the dynamic nature of the real estate market in Dubai, where prices and availability can fluctuate rapidly.
In conclusion, navigating the property market in Dubai in 2024 requires careful consideration and research to ensure that you are getting the best value for your investment. By utilizing tools like the DataGuru Price Map and staying informed about market trends, residents and investors can make informed decisions when renting or buying property in this bustling Emirate.
