Dubai real estate market review: Occupancy increase, stock decrease, top performing areas

Originally published on Jan 10, 2024 | Arabian Business

The long-term rental market in Dubai witnessed a dramatic increase in yields throughout 2023, positioning the city well ahead of its global counterparts

Popular areas for property purchases included Business Bay (pictured), Jumeirah Village Circle, Dubai Marina, Jumeirah Lake Towers, and Dubai Creek. Image: Shutterstock

As the Dubai real estate market continues at an upward momentum this year, real estate management company AirDXB has released the 2023 market review which revealed key trends including annual market occupancy increases, stock decreases and top performing areas.

Short-let market

Dubai’s short-let market has witnessed a substantial surge, with annual revenues soaring by 14 percent year-on-year (YoY) to an impressive average of AED159,1000.

Occupancy levels also climbed 21 percent YOY, reaching an average of 57 percent, outshining global counterparts such as Hong Kong, Singapore, and Monaco.