Dubai property price increase fuelled by high net worth investors

The overall prime real estate market in Dubai has seen an increase in average prices of 8.72%

Ultra-high net-worth investors in prime areas have doubled average apartment prices, according to an analysis of data from the Dubai Land Department by LUHABITAT Sotheby’s International Realty. Dubai’s prime residential market saw transactions of over AED30 billion in the fourth quarter of 2022.

Average prices of properties in prime areas increased by 8.72 percent QoQ, the number of units sold also grew by 230.24 percent QoQ.

Jumeira Bay saw the highest prices of AED6996 per square foot and the average price of a property at AED45.7 million, 14 units were sold in Q4 2022. Jumeira Bay apartments sold on average at AED64.9 million, a median price increase by a high of 297 percent.