2022 in the Dubai Real Estate market is the most opportune year because it has seen a nonstop demand for residential homes and by Q3-22 the real estate sales reached AED 70 billion. The property market in Dubai has shown a positive result. Let’s take a close look and understand the forecast for the upcoming year.
Dubai is going to register its name as one of the world’s wealthiest cities. Not only the city is famous for its skyscraper buildings but home to millionaires and billionaires. Additionally, Dubai’s economy is skyrocketing which is clearly visible in some profitable industries like commerce, Real Estate, retail and transportation.
In a recent report by DLD, Dubai real estate market records over $3.08 billion on 31st Oct, 2022 which is a great indication that Real Estate is booming and simultaneously it shows that property demand is highly increasing.
The market records 625 sales worth AED 1.67 billion and 101 mortgage transactions worth of AED 276.37 million, 74 land plots worth AED 452.11 million and gift transactions which totaling AED 1.94 billion.
As of now, the total value of real estate transactions is beyond expectation which is AED 3.8 billion as mentioned above. The sales transaction of villas and apartments (551 numbers in total) is worth AED 1.22 billion, similarly, 74 land plots are worth AED 452.11 million.
Likewise, in mortgages, it included 88 villas and apartments worth AED 255.91 million and 13 land plots worth AED 20.46 million.
In Q1-2022 Dubai Real Estate Market the total market transaction was 20,521 and the total sales value was AED 55.8 billion. Also, slight property changes have been seen where the property is well sold as per the Sq.Ft
| Price | Project Name | Area Name |
| AED 73M | Burj Khalifa Zone 4 | Burj Khalifa |
| AED 69M | Dorchester Collection Dubai | Business Bay |
| AED 63M | The Royal Atlantis Resort & Residences | Palm Jumeirah |
| AED 57M | W Residences Dubai- The Palm | Palm Jumeirah |
| AED 50M | Serenia Residences Building B | Palm Jumeirah |
| Price | Project Name | Area Name |
| AED 73M | Burj Khalifa Zone 4 | Burj Khalifa |
| AED 69M | Dorchester Collection Dubai | Business Bay |
| AED 63M | The Royal Atlantis Resort & Residences | Palm Jumeirah |
| AED 57M | W Residences Dubai- The Palm | Palm Jumeirah |
| AED 50M | Serenia Residences Building B | Palm Jumeirah |
Similarly, in Q2-2022 again Dubai Real Estate market total transaction was 22,448 and the total sales value was AED 59.1 billion. The off-plan property was 52% higher than the ready property which was 48%. Here given the info about the most expensive sold apartments & villas have a look and get an idea for your next investment.
| Area | Price |
| Dubai Marina | AED 477M |
| Palm Jumeirah | AED 87M |
| Emirate Living | AED 75M |
| MBR District 1 | AED 48M |
| Dubai Hills | AED 43M |
Similarly, in Q2-2022 again Dubai Real Estate market total transaction was 22,448 and the total sales value was AED 59.1 billion. The off-plan property was 52% higher than the ready property which was 48%. Here given the info about the most expensive sold apartments & villas have a look and get an idea for your next investment.
| Price | Project Name | Area Name |
| AED 105M | Burj Khalifa Zone 4 | Marsa Al Arab |
| AED 82M | Dorchester Collection Dubai | Palm Jumeirah |
| AED 60M | The Royal Atlantis Resort & Residences | Palm Jumeirah |
| AED 51M | W Residences Dubai- The Palm | Burj Kahlifa |
| AED 50M | Serenia Residences Building B | Jumeirah Bay |
| Area | Price |
| Palm Jumeirah | AED 126M |
| MBR District 1 | AED 110M |
| Emirate Living | AED 103M |
| Meydan One | AED 99M |
| Dubai Hills | AED 96M |
In Dubai, the Real Estate market in Q3-2022 has jumped higher with 25,503 transactions with AED 69.5 billion highest sales value. Here take a quick look at the most expensive projects including apartments and villas.
| Price | Project Name | Area Name |
| AED 163M | The Royal Atlantis Resort & residences | Palm Jumeirah |
| AED 145M | Jumeirah Marsal Al Arab | Marsal Al Arab |
| AED 92M | Six Senses Residences The Palm | Palm Jumeirah |
| AED 85M | One at Palm Jumeirah | Palm Jumeirah |
| AED 50M | BV Residences 1 | Jumeirah Bay |
| Area | Price |
| Palm Jumeirah | AED 303M |
| Emirate Living | AED 210M |
| Jumeirah Bay | AED 55M |
| MBR District 1 | AED 53M |
| Marsal Al Arab | AED 48M |
In the table below we have shown the aggregate root of average property value for the year 2021-22 and the best region where you can buy a property in Dubai.
| Area | Sold Properties | Average Price |
| Business Bay | 8,582 | AED 1.2M |
| Dubai Marina | 5,900 | AED 2.1M |
| Jumeirah Village Circle | 4,904 | AED 670.9K |
| Downtown Dubai | 4,477 | AED 2.4M |
| Dubai Creek Harbour | 3,199 | AED 1.9M |
| Dubai Hills | 2,791 | AED 1.8M |
| Palm Jumeirah | 2,383 | AED 3.6M |
| Arjan | 2,267 | AED 599K |
| Sobha Hartland | 2,041 | AED 1.3M |
| Jumeirah Lakes Towers | 2,010 | AED 950K |
The property market of Dubai is in a continual surge, the non-stop demand for luxury homes are prime reasons that the market has seen in its Q3 -22. The sales reached AED 70 billion and confirmed growth of 18% and 64.5% as compared to Q3-2021. Likewise, at the beginning of 2022 Dubai property market reached AED 184 billion by dealing in 68,500 real estate deals which is a 77% increase as compared to 2021.
Further, the average rent increased by 22% according to DXBinteract.com, which told that nearly all types of property in Dubai got an increased rent except villas (ready-to-move). “ Q3-2022 has indeed shown remarkable sales growth to become the best performer in the history of Dubai’s real estate market. The completion of large projects in different regions of the country has contributed to these numbers as the value of deals worth more than AED 100 million increased by 49 per cent. It also increased by 56% for properties worth more than 20 million dirhams compared to the previous best performance in 2015 said Firas Al-Masaddi, CEO of Orate.”
Well, Q3-2022 has indeed shown a positive outcome and skyrocketing growth which Dubai Real Estate Market is witnessing. Furthermore, the real estate firm of Dubai played here a major role in delivering a number of projects and units to the end-users as well as investors as per their demand.
Would you believe 22 new projects consisting of more than 5380 units were in the completion phase? And from various sources, these units are coming from the reputed DAMAC Properties with 1560 units, Azizi Developments with 1192 units and Emaar Properties with 954 respectively.
Luxury home demands, search of second homes, and affordability as compared to other cities are the prime reasons that increase the property demand in Dubai. Most buyers from different nations are taking so much interest in the real estate of Dubai. Mostly, for Russians Dubai is the safe haven further, new buyers from different countries like Switzerland, Germany and France are showing their interest in this Gold City.
According to Bloomberg Dubai’s prime real estate prices are rising up to 89 per cent. Similarly, the property value in some popular regions of Dubai like Palm Jumeirah, Jumeriah Bay and Emirates Hills increased by 100 per cent. A villa sold worth of $82 million in Palm Jumeirah back in July.
Arabian Business said that in the month of Sept 2022 the city’s real estate receipts exceed over $325 million. In 386 sales 341 units of property including apartments and villa residences are purchased at luxe gated communities across the community.
According to CORE, in Q3-2022 Dubai recorded the highest number of sales and transactions (Above AED 100) value in the secondary market and gained lots of property buyers’ attractions. Nearly 5700 units have been successfully delivered to YTD 2022 in Q3 of 2022 and it is expected to deliver 13,500 units by Q-4 of 2022 which is moving the forecast from 38,000 to approx. 32,500 units, which is indeed a surge.
“This year, Dubai recorded the highest number of sale transactions above AED100 million (16 transactions recorded YTD 2022 in the secondary and off-plan market compared to a total of 5 transactions in 2021)” Prathyusha Garrapu, Head of Research and Advisory, CORE
In the Secondary market, the transaction volumes surged 49 per cent in Q 3-2022 and the in the off-plan market recorded 60 per cent rise respectively. This indicates that the Real Estate market of Dubai is giving a clear indication to home buyers and investors that they can park their money and promise higher ROI.
“The Sharp Rise in off-plan transactions creates an inherent risk, and while there are stronger regulations in place now, should demand be impacted in the coming quarters due to rising interest rates, inflation, a strong dollar to which the AED is pegged along with rising sales prices, this may become as a cause of concern,” Garrapu explains.
Further, in a recent report by Dubai Land Department (DLD) nearly 2,217 real estate transactions worth will be approx. AED 7 billion has been done in the last week of October 2022.
Furthermore. 3 land transactions in Palm Jumeirah Sold for AED 300 million, in Island sold for 2 AED 130 Million and in World Islands a land sold worth AED 86 million. 150 sales transactions worth AED 353 million have been recorded as the highest in Jebel Ali. Mohammad bin Rashid Garden has 29 sales worth AED 634 million and Al Mamzar with 23 sales transactions worth AED 166 million respectively.
The average rental increased by 22% across the city stated in the monthly report by DXBinteract.com. Except for ready-to-move villa, all types of property has seen tremendous rental growth. The Villa rent was down by 7% compared to last year. Similarly, although mortgage transactions decreased by - 5 to 5,650 deals still the value increased by 12.4 % and reached AED 31.5 billion as compared to Q3-2021.
Burj Jumeirah - will be built near the Burj Al-Arab. The height of Burj Jumeirah will reach 550 meters.
Meydan one - it’s a residential project with myriads of apartments, Meydan One shopping mall and you will be witnessed the world’s longest dancing fountain at 380 meters.
Dubai Creek Tower - located in the heart of Dubai considered the tallest tower in the world.
The huge Expo 22 site is going to transform one of the largest green cities in Dubai- District 2020 located in South Dubai.
Damac Elegance Tower - The most desired Luxury Apartment address in Downtown, Dubai.
Damac Lagoons Marbella - Choose your own waterfront villa and townhouses in various options.
Wasl Towers - with 64 floors, 229 residential units, 258 hotel rooms, 185,345 Sq. Ft of office space and 11 levels of parking.
After getting huge success Dubai Real estate market forecast 2023, the coming year will be another booming year.
The Real Estate market performance in Q3-2022 has indeed created history and gives a clear indication that for Real Estate investment Dubai City is the most opportune place in comparison to other global cities.
