Business Bay and Dubai Marina continue to dominate the Dubai real estate market in 2022 as these areas remain popular with buyers and tenants throughout the year, a new report says.

According to the Zoom Property Insights report, average prices in these most popular areas have seen a significant upward trend this year due to increased demand and interest from buyers and tenants.

The diversity and quality of life in these two areas has attracted buyers and tenants alike.

Business Bay and Dubai Marina cater to a diverse range of property seekers and remain top choices due to their diversity and high quality of lifestyle.

Their strategic locations and proximity to iconic Dubai landmarks also make them attractive to buyers and tenants.

With new developments in these areas, they are also expected to continue their upward trajectory in 2023.

According to Zoom Property Insights, the average price of a studio here is Dhs870,000, while flats and villas are priced at Dhs1.333 million and Dhs22.9 million respectively.

This is closely followed by Downtown Dubai, where the average property price ranges between Dhs1.25 million and Dhs4.3 million, depending on the type of residence.

Dubai Marina is another popular choice for buyers.

The average property price in this neighbourhood is Dhs9,350,000 for a studio, Dhs1,400,000 for a flat and Dhs2,600,000 for a penthouse.

Jumeirah Village Circle and Palm Jumeirah are other areas that remain in high demand among property buyers.

Zoom Property Insights revealed that Business Bay was the most popular choice for tenants in Dubai this year.

Average annual rents here range from Dhs43,000 to Dhs775,000.

Downtown Dubai, with an average annual rent of Dh900,000, was the second most popular choice for tenants.

Al Barsha, with its many expatriates from different regions, occupies the third position.

It is closely followed by Discovery Gardens and Jumeirah Village Circle.

The Dubai real estate market is also expected to continue its golden run in 2023 as more and more people relocate to Dubai for employment, investment and entrepreneurial opportunities.

Both purchase and rental prices are expected to rise, resulting in a high return on investment for investors. This makes now the perfect time to venture into the Dubai real estate market.