Palm Jumeirah accounted property sales for 52.3% in Q3 2023

Palm Jumeirah accounted for 52.3% of $10 million+ property sales in Dubai in Q3 2023

– According to the consultancy firm, Knight Frank

TOP 5 areas by the total number of $10 million+ transactions:

1. Palm Jumeirah – 51

2. Emirates Hills – 8

3. MBR – 8

4. Jumeirah Bay Island – 7

5. Za'abeel First – 4

The prime market is responsible for 4.8% of transactions in 9 months of 2023 in Dubai.

With average prime transaction prices ➤ $10,962 per m², Dubai remains one of the world's most affordable luxury home markets.

Prime residential values ↑ by 15.9% YoY in 2023. The most expensive prime submarkets in Q3 2023:

1. Jumeirah Bay Island

2. Emirates Hills

3. Palm Jumeirah

Palm Jumeirah villa prices:

• Rose by 292% since January 2020

• Increased by 105% above 2015 market peak

Apartment prices:

• Rose by 122%, compared to January 2020

• Increased by 57%, compared to 2017 levels

98% of the 368 homes expected in Dubai's prime neighborhoods to the end of 2025 are apartments. Projects include:

• Serenia Living – 226 Apartments

• Ellington Beach House – 123 Apartments

• Palm Flower – 11 Apartments

• Bulgari Mansions – 8 Villas