December 2022 Concluded On A Positive Note For Dubai Real Estate

Jumeirah Lake Towers

Dubai real estate market has bucked the trend, where demand has increased over the years (especially in 2022) and prices for properties have also been buoyed. Reasons can be many including a major influx of high-net-worth individuals (HNWI) fleeing lockdowns and unstable economies after the emirate rolled out coronavirus vaccination, eased social restrictions and introduced major reforms to strengthen the country’s position as the MENA’s top financial hub.

Resultantly, this all translated into increased numbers of real estate transactions throughout the year. Dubai real estate touched AED30 billion mark this November, showing how generously local and foreign investors poured their money here.

Transactions worth AED6.8 bn recorded in 3rd week of December

Following the previous trends, 3rd week of December ending on December 23rd, 2022 proved to be promising. The total numbers of real estate transactions recorded this week are more than 2,000 and these property transactions worth AED 6.28 billion were recorded for December’s 3rd week.

According to official data released by the Dubai Land Department (DLD), 2,389 properties for sale in Dubai were recorded in this week of December. The increasing number of transactions by the end of the year shows potential investors’ unwavering trust in Dubai real estate market. Based on these numbers of transactions recorded throughout 2022 and in these 3 weeks of December, it can be said that not just December but the entire 2022 will be a record-breaking year for Dubai real estate market.

Meanwhile, the sector will remain prosperous and booming as 46% growth is projected for Dubai real estate sector in 2023.

Further analysis shows that 231 plots sold for a total of AED 877.59 million, while 2,158 units and villas were sold for a total of AED 5.44 billion. There was an AED100 million sale of land in Business Bay, an AED 96.5 million sale of land in Al Safouh First, and another AED 100 million sales of land in Business Bay, finalizing the top three deals that happened in the third week of December.

There were 66 sales worth AED 177.34 million in Al Hebiah Fifth this week, followed by 21 sales in Al Yufrah 2 worth AED 28.72 million, and 12 sales in Jabal Ali First for AED 38 million, respectively.

Over 2,000 transactions recorded in last week of December 2022

Surf At Dubai Creek Harbour

Dubai real estate activity report for the last week of 2022 was promising and gave us hope for a more prosperous 2023. In the last week of December 2022, Dubai real estate market recorded transactions worth AED 7.02 billion. A total 2of ,248 sales transactions were recorded including 441 mortgage transactions for AED 7.89B million, and 94 gift transactions worth 537.70 million from Dec 26, 2022 to Dec 30, 2022 in the world of real estate market Dubai.

According to the data released by Dubai Land Department (DLD), the top five real estate transactions include:

  • Al Barari apartment comprising 8,850 per sq.m. value was sold for AED 1,575,000 (total transaction 1),
  • Al Kifaf flat comprising 83,281 per sq.m. value was sold for AED 8.549,854 (total transactions 7),
  • Al Waha apartment comprising 4,565 per sq.m. value was sold for AED 760,000 (total transaction 1),
  • Arjan apartment comprising 16,733 per sq.m. value was sold for AED 1,114,240 (total transactions 2),
  • and Bluewaters apartment comprising 17,841 per sq.m. value was sold for AED 1,114,240.

December 2022 – A record-breaking month for Dubai real estate

2022 proved to be one of the most promising years for Dubai real estate, where amidst the global economic crisis after the COVID-19 induced pandemic, the market showed resilience and growth. The reasons can be many such as foreign investors’ rising interest in luxury properties for sale in Dubai, strong infrastructure and a growing economy. Resultantly, robust demand conduces the launch of luxury projects in Dubai, which led to a further increase in property prices.

2022 concluded on a positive note for the Dubai property market and December proved to be a record-breaking month, with a further rise in property prices. The real estate transactions in December 2022 are valued at AED 26.1 billion in total, with a total number of transactions crossed the 9,000 mark.

According to official data released by the Dubai Land Department (DLD), 9,507 properties for sale in Dubai were recorded in December. It shows investors’ unshakeable confidence in Dubai real estate market and its unwavering commitment to keep investors’ investments safe. The numbers of transactions are 68.9 per cent higher compared to the transactions recorded in December 2021. Moreover, the value of these deals is also 65.6 per cent higher than the value of the properties sold in December 2021.

The further breakdown of the data shows that 7,024 apartments, 1,822 villas, 261 commercial units and 400 plots were sold during this month. Apartments made 54% of total real estate transactions, villas account for 26% of these transactions and plots make 18% of these transactions. Mohammed Bin Rashid City, Dubai Marina, Business Bay, Jumeirah Village Circle and Al Barsha South remained the top 5 most desirable neighbourhoods for investment in Dubai this month.

Dubai real estate to maintain its growth trajectory in 2023

LIV Lux Properties for sale in Dubai

2022 remained spectacular for Dubai real estate market, with several record-breaking months and a spike in the number of transactions. Even though December is usually considered a holiday month but the trend is changed for Dubai real estate market this year. And the above-mentioned number of transactions is proof that both local and foreign investors were busy investing in properties in Dubai.

If you are also looking for any such opportunity to enter this market, call the team HFRE today at +971 4876 2473 or can also write us at and one of our representatives will help you make the right investment decision.

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