Factors influencing their high ranks are revealed by a proptech company's projection utilizing AI.
According to a recent research, the top three areas for investment in Dubai real estate are Sobha Hartland, Dubai Harbour Part 1, and Bu Kadra Part 2.
Realiste, a proptech company, based its estimates on its own AI engine. These regions were determined to be the top three economically advantageous ones based on average yearly price growth.
Realiste AI is a sophisticated system that assesses the investment appeal of real estate properties globally using self-learning capabilities. It takes into account regional preferences and simulates how prospective purchasers might make decisions in particular places. Our algorithm examines more than 200 indicators obtained from numerous trustworthy sources in order to calculate the score. Different effects of these measures on the evaluation can be seen. All elements can be divided into four groups based on their influence levels: extremely high, high, medium, and low, according to a Realiste spokeswoman. The image displays the key characteristics of each.
Individually, the features of the three areas that stood out are as follows:
There has been a 17.6% average annual price gain in this neighborhood. The International Airport and Burj Khalifa may be reached within 15 minutes by car. More than 30% of the property is made up of green space, along with swimming pools and gyms. The project is next to a lagoon, an embankment, and two of the best international schools in Dubai.
DUBAI HARBOUR Part 1
This area has experienced an average yearly price growth of 16.5%. It is only a five-minute drive to Sheikh Zayed Road, the Marina & Yacht Club, and the Promenade, which is home to a variety of dining and shopping options. It features a private beach with fine sands and the Arabian Gulf's sparkling waters, and it provides breathtaking views of the Palm Jumeirah, Ain Dubai, Cruise Terminal, Dubai Marina, and Dubai Harbour Boulevard.
BUKADRA Part 2
The region's average yearly price growth has been 14.5%. It is close to Dubai's Downtown and Creek, two prominent neighborhoods. A golf course and a private beach are available in the region. The 1BR and 1.5BR apartments with panoramic views on the middle and upper floors are the best investment product in the complex.
According to Realiste's creator, Alex Galt, Dubai will continue to appeal to overseas buyers looking to protect their investments. As the oil crisis and geopolitical volatility worsen, it will solidify its position. As a result, the market and local real estate will see an increase in demand in 2023.
In general, the data presented and the growth prognosis for Dubai's real estate market are in line with each other. The potential appeal to investors is highlighted by constant double-digit average yearly price growths and the variety of projects, which is consistent with AI's analysis of market trends. The correlation between observed market indicators and AI-derived data further supports the idea that Dubai's real estate market is ready for growth and investment opportunities.
News Source: Khaleej Times