Property Finder, the leading property portal in the MENA region, has revealed key trends shaping Dubai’s booming property market in September 2023. Based on Property Finder’s proprietary data for September 2023, 57% of homeseekers with an interest in buying properties are looking for an apartment, while 43% are browsing for villas and townhouses.
In the rental sector, 81% are seeking apartments, while 19% are interested in villas. However, there has been an increase in the percentage of investors or home seekers looking for Villas, rising from 39.8% in September 2022 to 43%. Conversely, those searching for apartments decreased by 3.2%, dropping from 60.2% to 57%. Among home seekers, the most commonly searched apartment size was two bedrooms, accounting for 35%, followed by one-bedroom apartments at 32%.
Roughly 69.7% of tenants seeking apartments prefer furnished properties, while 28.9% are searching for unfurnished options. In contrast, tenants able to afford villa/townhouse rentals have different preferences, with about 57% seeking unfurnished units and 43% looking for furnished options.
Approximately 38% of tenants were seeking one-bedroom units, while 29% expressed a preference for two-bedroom apartments and 23% were searching for studios. Regarding Villas/Townhouses, 49% of tenants were primarily looking for three-bedroom units, while 31% were searching for four-bedroom or larger options.
Cherif Sleiman, Chief Revenue Officer at Property Finder, said: “We have been seeing changes in consumer preferences when finding a home - from a rise in ownership to new projects. Today, real estate in the country offers diverse options for all types of homeseekers - be it for buying or renting. As we approach the next quarter, we remain committed to unlocking greater potential for the growth of real estate in the region through our wide range of tools designed for a seamless home finding journey.”
The top areas searched to rent apartments were Dubai Marina, Business Bay, Downtown Dubai, Jumeirah Village Circle, and Jumeirah Lake Towers. While Dubai Hills Estate, Jumeirah, Al Barsha, Dubai Hills 2 (Akoya), and Arabian Ranches were popular when it came to searches to rent villas/townhouses.
On the other hand, top neighbourhoods searched to own apartments in September 2023 were Dubai Marina, Downtown Dubai, Jumeirah Village Circle, Business Bay, and Palm Jumeirah. While Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Al Furjan and DAMAC Hills (Akoya by DAMAC), were the most desired areas to own rent villas/townhouses.
