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Areas in Dubai with the most expensive properties in 2023

Areas in Dubai with the most expensive properties in 2023
Dubai real estate continues to be attractive to wealthy individuals and foreign investors, which undoubtedly leads to higher prices for premium housing.
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PUBLISHED: 26 April 2023

In 2022, the three most expensive residences in the world were sold in Dubai. These consisted of three premium villas located in Dubai's most popular area for investors and HNWIs - Palm Jumeirah. Last year, the area accounted for almost a third of the total property transactions in the luxury market segment in Dubai, which is measured by properties sold for a minimum of AED 20M (USD 5.4M).

The next sought-after areas for buying premium property in the emirates are Jumeirah Beach Residence and Emirates Hills. In 2023, Tilal Al Ghaf was also ranked as one of the most popular premium real estate areas in Dubai.

The growing demand for luxury property among wealthy individuals and investors will contribute to the growth of prices and the growth of the real estate market within the emirate. The steady growth of the UAE economy is also having a positive impact on real estate, which is undoubtedly the most stable and secure way to invest.

The most expensive deals with premium real estate this year include:

  • Island 2, Bulgari Lighthouse with properties sold for AED 410M (USD 112M) and AED 119M (USD 32.4M).
  • Al Wasl, Aire Dubai — AED 119M (USD 32.4M)
  • Dubai Water Canal, One Canal — AED 73M (USD 20M)
  • Al Wasl, Aire Dubai — AED 62M (USD 17M)

Two luxury villas priced at AED 125M (USD 34M) and AED 183M (USD 50M) have been sold on the famous man-made island of Palm Jumeirah. Luxury property sales were also recorded in Tilal Al Ghaf for AED 90.1M (USD 24,5M) and Emirates Living for AED 70M (USD 19M) and AED 45M (USD 12M).