Dubai property prices rise 21%
Data from Bayut shows that renovated or upgraded properties in Dubai are priced up to 21.4% higher than unrenovated ones, with an average asking price of 3.1 million dirhams compared to 2.18 million dirhams for non-renovated properties. The main upgrades influencing the price include private pools, wellness facilities, upgraded kitchens, flooring, and bathrooms, each contributing to increasing the property's value to varying degrees. Private pools lead to a 21.4% increase in asking prices, especially in villa sectors, serving as a crucial feature for transforming outdoor spaces into extensions of the living area. Wellness amenities such as saunas and steam rooms are associated with a 5.7% increase and are considered essential in luxury properties. Upgrades to kitchens and flooring result in increases ranging from 2.1% to 3.3%, as interior improvements can enhance appeal and durability. Most of these enhancements have a greater impact on villas and spacious luxury properties; however, the type of property and its suitability significantly determine the outlook of these effects, with clear variations depending on the unit type and location.
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