RIYADH: Dubai’s real estate market witnessed strong growth in 2023, with rental prices for villas surging 16.2 percent year-on-year in the fourth quarter, official data showed.
According to the latest report released by the Central Bank of the UAE, median leasing rate prices soared by 10.2 percent in the final three months of last year compared to the same period in 2022.
CBUAE added that the rental yield in Dubai also increased to 4.4 percent at the end of 2023 from 3.4 percent at the end of the preceding year.