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In the third quarter of 2022, average prices in the main Dubai real estate market increased by 11.29%, and sales increased by 1.11% quarterly, indicating the continued stabilization of the market.
According to the Dubai Land Department, a total of 7,552 properties were sold in the Dubai luxury housing market in the third quarter of 2022, including 6,940 apartments, 316 villas and 251 townhouses, reflecting a quarterly growth of 7.06%. Jumeirah had the highest prices per square meter – 10,942 dirhams per square meter, followed by Jumeirah Bay – 5,305 dirhams per square meter and Palm Jumeirah – 3,018 dirhams per square meter.
The largest sales growth was observed in Jumeirah, Za'abeel and Business Bay, while Jumeirah, Jumeirah Bay and Palm Jumeirah had the highest prices per square meter.
Sales of luxury residences increased by 4.75% to 16.7 billion dirhams in the third quarter of 2022.
