Realiste conducted research to determine the districts in Dubai with the highest concentration of green spaces and their influence on property values. The study also identified the most desirable areas with green spaces and where investors can find the greatest investment potential. Green areas are essential for Dubai for several reasons, including their aesthetic appeal, environmental benefits, and potential impact on property prices.
Properties located near green spaces are often seen as more desirable and can command higher prices compared to properties that are not located near green spaces. This is because residents are willing to pay a premium for the added benefits and amenities of living near green spaces, such as improved air quality, recreational opportunities, and a better quality of life.
In Dubai, the government has recognized the importance of green areas and has invested in creating parks, gardens, and other green spaces throughout the city. As a result, properties located near these green areas have seen an increase in demand and value. In addition, developers are increasingly incorporating green spaces and sustainability features into their projects, further boosting the appeal of these properties.
Using its AI-powered platform, Realiste conducted an analysis of Dubai's districts and compiled a ranking of districts based on the amount of green space available.
Buyers and renters are more drawn to areas with abundant parks, greenery, and other natural elements, resulting in higher property prices. For example, in Arabian Ranches, where 41 percent of the area is dedicated to green spaces, the average cost of property is 3,800,000 AED, with an average price per square foot of 1,046 AED. In comparison, Downtown, which is considered one the most popular areas in Dubai, costs 3 200 000 AED on average with an average price of sq ft 2 670 AED. However, there are also areas on the list that have many green spaces and affordable housing.
Many of these green districts are currently in the development stage, and they are expected to see the addition of more housing units, infrastructure, and recreational spaces in the future. For instance, the prestigious district Sobha Hartland, a few minutes away from Burj Khalifa, has several green areas and will see more recreational zones, gardens, and parks in the following years, along with new housing projects such as Creek Vistas Grande Or Creek Vistas Heights, etc.
This development is likely to increase property prices in these areas. Realiste analyzed the future appreciation rates of property in districts from the list of the greenest areas and identified those that have the biggest investment potential.
