Palm Jumeirah is in demand as Dubai real estate continues its growth in Q4

With prices rising by almost 1.8% in October and a similar trend in November, Dubai's real estate market is expecting a strong fourth quarter and the end of 2022 as investors and end users continue to invest in the emirate's real estate sector.

The latest data from Zoom Property Insights showed that average real estate prices in Dubai reached 1,070 dirhams per square meter. He also reported more than 8.5 percent and 13 percent price increases for apartments and villas, respectively, in 2022.

Among other sectors, it is the luxury segment that dominates the real estate market. HNWI and foreign investors continue to invest in this sector, which leads to noticeable growth. According to Zoom Property Insights, for the period from the 3rd quarter of 2021 to the 3rd quarter of 2022, there was a significant increase of 88.9% in luxury real estate. This is the highest growth in the world: Miami and Tokyo occupy the 2nd and 3rd places with an increase of 30.8% and 17%, respectively

Jumeirah, Downtown Dubai and Palm Jumeirah, where prices rose by more than 3.3%, 2.5% and 2% respectively, remained the preferred options for apartments in Dubai. DIFC, MBR City, Dubai Hills and Business Bay are other popular areas that have aroused the interest of investors and end users in apartments in Dubai.