Indus Real Estate - News Details

Indus Real Estate | 74934772

Creating an easy record for the city’s property market, Dubai has recorded a total of 219 homes sold with over a whopping $10 million each in 2022. With 93 sales over $10 million on homes in 2021 and even lesser in the previous years, Dubai has become the go-to place for global investors.

2022 was also the year Dubai recorded a spate of DH100 million plus home deals, with highest being for a villa on Palm Jumeirah, which fetched over Dh300 million plus.

2023 will see more prime property deals

“The performance at the top of the market clearly demonstrates the arrival of Dubai as a luxury hub to rival long established markets elsewhere,” said Faisal Durrani, Partner – Head of Middle East Research.

He also added that according to the 2023 Global Attitudes Survey amongst the regions wealthy, UAE remains as the second most likely target for a home purchase, second to UK.

Due to the rise in Dubai’s multi-million-dollar homes, market over the last two years has been phenomenal comparing from just 1 ultra-prime sale in 2010 to 219 deals worth above $10 million registered in 2022 – being more than the total recorded between 2010 and 2020.
Dubai’s super-prime destinations - Emirates Hills, Jumeirah Bay Island and Palm Jumeirah - collectively registered price growth of 44 per cent during 2022.