Dubai luxury housing market will continue its «run» in 2022

There is a high demand in the luxury housing market in Dubai in 2022, which will be facilitated by the growing interest from international investors.

In 2021, there was an increase in activity in the luxury housing sector, and a 40 percent increase in prices was also recorded compared to the previous year, despite the problems associated with the pandemic. In 2021, a record number of homes worth $10 million or more were sold, resulting in an average home value increase of 9.2%, and villas showed a significant jump of 21.2%.

The most expensive apartment was sold in Burj Khalifa Zone 4 in the center of Dubai for 73 million dirhams in the first quarter of 2022. It was followed by an apartment in Dorchester Collection Dubai, located in Business Bay. The ultra-modern apartment was sold for 69 million dirhams. In Palm Jumeirah, a luxury apartment was sold for 63 million dirhams. Luxury apartments at W Residences Dubai and Serenia Residences Building B, located in Palm Jumeirah, were sold for 57 million dirhams and 50 million dirhams.

Real estate experts predict a record increase in sales of luxury homes worth more than 100 million dirhams in Dubai.