Dubai's Real Estate Market Thrived 2022
Read this overview of the real estate market in Dubai and its most trendy and upcoming areas.
In short, the Dubai property market thrived in 2022. In particular, the Business Bay area saw the highest number of deals, thanks to Dubai's favourable business environment and outstanding infrastructure.
Top Locations for Real Estate Transactions in Dubai
Business Bay. With 10,853 deals, the Business Bay area was the top location for real estate transactions in the state.
Dubai Marina. This area recorded 10,074 transactions, making it the second-highest location for real estate transactions.
Al Barsha South 4. This district registered 7,338 transactions, ranking it as the third-highest location for real estate transactions in Dubai.
Burj Khalifa. The iconic area recorded 6,955 transactions, making it the fourth-highest location for real estate transactions in Dubai.
Other notable best-performing locations include Al Merkadh, Jebel Ali 1, and Palm Jumeirah.
Value of Real Estate Transactions in Dubai
The Wadi Al-Safa 3 area saw the highest value of real estate transactions in 2022, with a total of over AED47bn. Other top locations for the value of transactions included Palm Jumeirah, Dubai Marina, and Business Bay. The strong performance of Dubai's real estate market supports the emirate's economic goals to double its economy by 2033 and prove itself as one of the world's top-tier cities.
To sum up, Dubai's favourable business environment and top-notch infrastructure have contributed to the growth in real estate transactions in 2022. While the Business Bay area saw the highest number of real estate deals, the Wadi Al-Safa 3 district had the highest value of transactions. This strong performance supports the emirate's goals for continued economic growth and development.