Luxury real estate worth $3 billion was sold in six months in Dubai

Analysts from the UK have estimated that in the first six months of 2023, luxury real estate worth $3 billion was sold in Dubai. Only transactions with objects worth $10 million and above were taken into account.

According to the study, 176 real estate transactions worth more than $10 million were made in Dubai in six months. Most of the transactions were made in the areas of Palm Jumeirah, Emirates Hills and Jumeirah Bay Island. It accounts for 63% of all transactions. The average transaction price is $16.5 million.

Experts note that Dubai ranks first among the luxury real estate markets. This is largely due to the average price per square meter of $19,375, which is relatively little for expensive housing.

Analysts noted that 86% of wealthy buyers pay special attention to the presence of parks near the house. It is assumed that the development of infrastructure and the creation of new public spaces will help to divert residential development from the shores of reservoirs and rivers.