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These areas will experience substantial property price appreciation in Q4, 2023

In a recent report, it has been highlighted that several areas in Dubai are poised to experience substantial property price appreciation in the fourth quarter of 2023. According to Realiste AI, a prominent prop-tech platform, the following regions are expected to witness significant growth:

1. Bukadra Part 2: This area is anticipated to have the highest forecasted property price growth, with an expected increase of 8.12% in Q4 2023. Notably, Bukadra Part 2 is characterized by new constructions. While annual rental yield analytics are still being prepared, it’s worth noting that 3BR units have the lowest average price per square meter at Dh22,497, while 1BR units have the highest at Dh24,919. Projections indicate that 1BR unit prices will increase to Dh24,323, and 3BR units to Dh26,941.

2. Sobha Hartland: The prospects for average price growth in Sobha Hartland stand at 8.05%. Analytics are available for four unit types in this area, with similar annual rental yields. Studio units have a slightly higher yield at 5.7%, and the average price per square meter is highest for 3BR units and lowest for Studio units at Dh20,387.

3. Al Warsan First: Property prices in Al Warsan First are expected to increase by 6.99% in the next quarter. The highest annual rental yield is in 3BR units at 7.6%, while 1BR units have the lowest yield at only 3%. The lowest average price per square meter is also in 3BR units, starting at just Dh6,318, while other units start at Dh10,420.

4. Dubai Harbour: On average, units in Dubai Harbour are predicted to grow by 6.18% in Q4 2023. The quality of buildings in this area is rated at a high 98%, with a development level of 2.4%. Similar to Al Kheeran, data is available for 1BR, 2BR, and 3BR units. 1BR units offer the highest annual rental yield at 5%, on par with 2BR units. The highest average price per square meter is in 3BR units, at Dh42,001.

5. Al Kheeran (Dubai Festival City): Al Kheeran, also known as Dubai Festival City, is expected to see an average price per square meter increase of 5.58% in the next quarter. Data is available for 1BR, 2BR, and 3BR units. The most favourable option in this area is the 1BR unit, offering an impressive rental yield of 7%, surpassing the 2BR and 3BR units with yields of 4.5% and 5.1%, respectively.

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