Land for elite buildings has risen in price on a record in Dubai

In Dubai, land plots intended for luxury homes have doubled in price, in some areas - four times. The reason is the huge demand and low supply; now there are practically no suitable sites left.

Recently, there has been a boom in off-plan real estate in Dubai, analysts say. Local developers have several new projects and they are actively looking for land plots for them. Because of this, the already high land prices are rising even more. At the same time, not only local, but also international developers who are trying to enter the local real estate market have recently been operating in Dubai.

Another reason is the rise in prices for houses and apartments. Because of this, more and more people want to buy a plot of land to build their own house.

Prices rose the most in the areas of Jumeirah Bay and Palm Jumeirah - here you can see a 4-fold increase in some areas. In addition, prices have doubled in areas such as Al-Barari, Al-Wasl, Umm Al-Sheif. The most popular are land plots by the sea.