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During the COVID pandemic, many people in Dubai wanted villas. Villas have more space. People wanted more space when travel and activities were limited. Now, the demand for apartments is growing. More professionals are moving to Dubai for work. They prefer apartments. In April, 58% of property buyers wanted apartments. Only 42% wanted villas or townhouses. 79% of renters looked for apartments. Only 21% wanted villas or townhouses.
This shows more demand for apartments compared to before. In the past, more people wanted villas during COVID. Now, more want apartments as Dubai’s population grows. People continue to move to Dubai. In 2023, around 50,000 new units were built. But Dubai’s population grew by 100,000. In early 2024, 6,500 new units were built. But Dubai gained 25,700 new residents. This means demand is outpacing the supply of apartments. Prices and rents will likely keep rising.
Experts say areas near the new metro line and airport will be popular. These include Dubai South , Silicon Oasis, and International City. Prices will rise as more people move close to the metro and airport. Off-plan units will give good returns for investors. Off-plan sales have already jumped 86% compared to last year. Their value grew 77%. Renters are also becoming buyers. Mortgages are now cheaper than high rents. New visa rules make buying easier. In short, more people in Dubai now prefer apartments as the population grows. Areas near the new metro and airport will be most popular.
