Over 80 percent of tenants in Dubai are seeking spacious and affordable properties with outdoor living spaces, according to property developer, ZāZEN properties. With real estate in Dubai facing an all-time high, prices have also seen an increase.
The city has also seen an increase in high-net-worth individuals (HNWIs) with increased demand in villas and townhouses. Residents are also seeking to invest in more spacious and affordable properties.
According to recent data, over 80 percent of Dubai tenants are looking for apartments with ample living space and sustainable features. Property Finder data reveals that two-bedroom apartments was up by over 30 percent among tenants in March 2023.
ZāZEN properties observed a surge in transactions within Dubai’s residential market this year, an increase of over 43 percent occurred in February.
Dubai residents prefer properties with outdoor spaces
Balconies with a view emerged as a top priority alongside larger balcony spaces among residents.
Madhav Dhar, co-founder and COO of ZāZEN Properties said, “The UAE has seen incredible growth in the real estate market and while this is expected to continue, buyers and investors are more cautious of their purchasing habits and are choosing to opt for more sustainable and economically friendly properties that offer all their desired amenities and keep the long term maintenance costs low. In line with COP28 which is expected to take place later this year, and the country’s commitment to Net Zero 2050, we have created a product that allows end-users and investors to purchase apartments that are not only sustainability-friendly, with our LEED Gold certification and on-site solar power, but also provides high quality spacious indoor and outdoor living spaces, and are affordable.“
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