42% of potential investors in Dubai property want to own a villa or penthouse

Property Finder data for May 2023 revealed that 58.1% of those wishing to own a property are looking for apartments, while 41.9% are interested in villas or townhouses.

In detail, the latest data released by Property Finder for the month of May reported important figures achieved by the real estate market, which is witnessing a great boom in Dubai. According to this data, the month of May recorded more than 11,700 real estate transactions, an increase of 78%, compared to 6,587 transactions in May 2022.

The value of transactions in May recorded a significant increase of 87% compared to the same month last year, reaching AED 34 billion, with a significant growth compared to April 2023, when 8,077 transactions worth AED 26.5 billion were recorded.

The market continued its great momentum in terms of property preferences for owners and tenants alike, according to figures revealed by Property Finder data for May 2023, 58.1% of those wishing to own a property are looking for apartments, while 41.9% are interested in villas or townhouses.

As for the rental sector, the data indicated that about 77.7% of tenants are looking for apartments, while 22.3% of them are looking for villas or townhouses, while furnished apartments received the attention of 61.2% of tenants, while 37% of requests were concentrated on unfurnished units. For tenants looking for a villa or townhouses, 56.6% prefer unfurnished units, while 42.4% would like to rent townhouses or furnished villas.

Data for May 2023 revealed that 34.9% of tenants searched for one-bedroom units, 31.4% for two-bedroom units and 21.78% for studio units. While 43.5% of tenants were interested in three-bedroom units, and 35.5% for four-bedroom units or more.

May also recorded an increase in the number of investors or individuals looking to own apartments from 53.9% in May 2022 to 58.1% in May 2023. Most searches were concentrated in two-bedroom apartments (34.1%) and one-bedroom apartments (33.4%).