In January-March 2023, Dubai's real estate market recorded a new record volume of transactions—it was over $24 billion, 60% more than during the same period last year. Industry insiders predict that there will be another spike over the next two quarters, and the number of transactions will be 10-12% higher.

“Further growth in Dubai's real estate market in the coming months will be shaped by the increasing demand for mid- and low-priced properties, that is, affordable properties,” said Adil Akhtar, CEO and founder of investment firm Foremen Fiefdom. He noted that properties priced between Dh500,000 and Dh1 million (from $140,000 to $270,000) are especially popular among buyers now.

However, the expert pointed out that the determining trend will continue to be the purchase of high-end, large-scale properties such as villas and townhouses.

“This is due to a shift in priorities caused by the Covid-19 pandemic, as people now place greater importance on having their own space to work, study, and relax,” he said.