Real Estate Market Forecasts for 2023

One of the most sought-after investment locations worldwide is still Dubai and Abu Dhabi. Strong economic fundamentals and development prospects, along with a solid financial base, are the primary drivers of its popularity.

According to the CBRE, Abu Dhabi and Dubai will experience positive average rates of real estate price and rental growth this year. According to recent research, the emirate's thriving real estate market will continue to expand, with a 46% expansion predicted for 2023. According to experts, 30,000–35,001 additional housing units will be delivered this year.

Upcoming Strategic Plan, which will help to establish Dubai & Abu Dhabi, UAE as one of the best property markets in the world, was announced earlier in 2023. The emirate will guarantee fresh real estate solutions, encourage creativity, and build a data-driven industry to inspire investor confidence. In the property sector, there will also be a heavy emphasis on implementing international norms.

NOTE: The support for small and medium-sized businesses and the adaptability of the business environment are only a couple of the factors that make the emirate an appealing place to invest. Because business professionals and entrepreneurs have such a high demand for homes, buying a property in Dubai or Abu Dhabi is a wise investment.

Foreign investors seeking to safeguard their money will continue to find the emirate to be appealing. In light of the oil crisis and the geopolitical unrest, Dubai & Abu Dhabi will only solidify their position. The demand for real estate will thus increase even further in 2023.

In 2023, the real estate market in Dubai and Abu Dhabi will be on the upswing as analysts expect a minimum 10-15% increase in local prices. The underappreciated neighborhoods with affordable housing will experience tremendous growth. For instance, prices in the thriving Jumeirah Triangle increased by 62% in 2022, with typical home expenses reaching AED 731,000. (USD 199,000). The district's real estate values are projected to increase by 29% this year.