The real estate market in Dubai experienced its best-ever performance in November 2022.
According to the real estate market report 2022 of dxb interact, Dubai witnessed around 10,600 transactions in November. Compared to November 2021, there was an increase in sales volume of more than 50%. About AED 30 billion was spent on sales, with real estate accounting for 65% more than in November 2021. Investors’ primary focus is on apartments. Nearly 8,000 transactions involving apartments were made, which is an increase of almost 74% from November 2021.
In November 2022, the sales of off plan projects in Dubai accounted for 63% of the total sales value and 55% of the total volume.
This blog comprehensively outlines the top 10 high-performing areas in November 2022.
Business Bay topped the list of best performing real estate areas with 1,084 off plan and ready property transactions, with a total sales value of over AED 2B, making it a highly sought-after location.
Business Bay is one of Dubai’s sought-after residential and business districts. It is adjacent to Downtown Dubai, Dubai’s iconic neighborhood, and is situated among the sparkling waters of the Dubai Canal. The advantageous position enhances the Business Bay area’s iconic prominence by bringing the beauty of waterfront living right into the bustling neighborhood.
A total of 46.9 million square feet make up Business Bay Dubai, of which 22.1% is designated for residential use, 18.5% for commercial use, and the rest 59.4% is set aside for mixed-use. Leading local and worldwide companies, eye-catching architectural structures, illustrious hospitality organizations, reliable transportation options, and an abundance of first-rate amenities can all be found in this renowned area. You can find all the business bay ready and off plan properties in next level real estate which is one of the leading real estate agency in dubai.
Al Merkadh (MBR City) sold more off plan projects in Dubai than any other neighborhood by a wide margin, with over 800 deals totalling more than AED 1.2 billion.
The planned mixed-use suburb of Al Merkadh is located in Dubai, United Arab Emirates. It is a peaceful neighborhood with a remarkable assortment of houses in all sizes and shapes. Every villa has top-notch amenities and opulent décor that ensure solitude and tranquility. With manicured grounds, a swimming pool, a cutting-edge fitness center, and more, the villa’s interior and exterior are seamlessly connected by wide windows and sliding doors.
The neighborhood guarantees a sizable ROI because of its handy location and straightforward access to certain popular places. Numerous people choose to live in the area recognised for its energetic atmosphere since it is smoothly integrated with a progressive community designed to improve quality of life.
The research on the Dubai real estate market for 2022 claims that there has been an increase in luxury transactions and rising sales prices. The Club Villas on Palm Jumeirah had the highest transactions in November 2022, valued at AED 145M.
Palm Jumeirah is the world’s largest artificial island. The neighborhood is home to one of the most outstanding selections of opulent villas, townhouses, apartments, and hotels in Dubai.
The apartments in Palm Jumeirah range from 505 square feet to 7,683 square feet and come in studio to 6-bedroom layouts. These apartments feature a large living area, a fitted kitchen, a powder room, an en-suite bathroom, and a built-in wardrobe in the bedroom.
In terms of ready and luxury off plan villas, the neighborhood offers residences with 1 to 7 bedrooms and living spaces ranging from 5,000 to 32,000 square feet. Families looking for private houses frequently rent or own villas.
Living in Palm Jumeirah is a unique experience because of its top-notch amenities and beautiful surroundings. There are a variety of fine dining restaurants, stunning cafes, and exciting entertainment venues that cater to everyone.
Damac Lagoons accounted for approximately 400 sales for November 2022. Damac Lagoons, nestled against Damac Hills, is a vacation spot rather than a residence. You’ll find eight distinct clusters at Damac Lagoons with a variety of Mediterranean city themes, each with its amenities, and you’ll be surrounded by water on all sides, white beaches that have been bathed in the sun, pristine lagoons, cafes by the ocean, and sports and adrenaline destinations. Every day is like a vacation in the Lagoons. These are luxurious residences for a select group of people, offering a selection of 4- and 5-bedroom townhouses and 6-bedroom luxury off plan villas.
Damac Lagoons is situated between Emirates Road (E611) and Sheikh Mohammed Bin Zayed Road, two important thoroughfares (E311). Its proximity to Damac Hills gives it easy access to the neighborhood’s numerous amenities and quick access to the rest of the city.
Dubai Marina, one of the most bustling communities in Dubai, made 451 transactions for ready-to-move-in apartments at a value of AED 1.2 B in November, 2022.
Dubai Marina is a brilliantly crafted residential community with a seamless network of roads, a picturesque marina, and a fleet of opulent yachts. Emaar Properties transformed a 3.5 km stretch of shoreline into a 6,452,391 sq ft modern neighborhood that offers a stylish Riviera-style lifestyle. The marina serves as a stunning backdrop for various opulent apartments available for rent in high-rise structures.
The range of apartments for rent in Dubai Marina includes studios, 1, 2, 3, and 4-bedroom apartments and opulent penthouses with five or more bedrooms. These high-end apartments provide a large living space, a fully equipped kitchen, and a private bathroom in the bedroom. Additional features include a maid’s room, a bathroom, and a balcony. A fitness center and a parking lot are shared amenities in apartment buildings.
Jebel Ali First
The opulent development, Jebel Ali First, was one of the best performing off plan areas in November 2022, with 415 sales transactions totalling AED 991M.
The area around Jabal Ali First in Dubai combines residential and commercial development. It is a much-anticipated development home to a remarkable assortment of hotels, residences, workplaces, and retail.
The neighborhood, primarily a sizable commercial port and trade center situated next to the Dubai Marina, is crucial to the emirate’s industrial activity. Over 7,000 businesses operate in the trade, logistics, manufacturing, and other industrial and service sectors.
Jebel Ali has many amenities, including hotels, dining establishments, shopping centers, grocery stores, medical institutions, fitness centers, and many others. The area blends the best aspects of each to attract locals looking for a place to unwind and relax. Families and professionals in the workforce typically like the neighborhood.
Jumeirah Village Circle,
One of Dubai’s most sought-after neighborhoods, Jumeirah Village Circle (JVC), received 281 transactions for ready-to-move-in properties in November 2022, totalling AED 187M.
One of the family-friendly master communities pioneered by Nakheel, the top real estate developer in Dubai, is Jumeirah Village Circle (JVC). It is well situated for tenants and buyers, located in the center of modern Dubai and between lush gardens.
The neighborhood continues to be the top choice in Dubai for anyone looking to rent or buy reasonably priced apartments and villas. The neighborhood draws both families and lone purchasers with a selection of affordable studios to 5-bedroom residences.
International City, which has the lowest prices in Dubai, saw 249 transactions worth AED 141 million in November 2022, making it one of the best neighborhoods.
International City is one of the most affordable neighborhoods for housing. Residents of Dubai International City benefit from various advantages in addition to economic housing. They have access to several reputable educational institutions and the impressive Dragon Mart.
International City, conveniently situated in the Al Warsan region, spans 800 hectares (about 8 million square meters) and borders a few well-known communities, including Silicon Oasis and Academic City.
Living in International City offers you a global community lifestyle while keeping the price tags affordable, which is one of the main advantages. It is the best option for those who like to live in small, close-knit communities.
You can discover a thorough overview of the development in this neighborhood guide.
Wadi Al Safa,
The luxury off plan villas at Wadi Al Safa 5, witnessed 96 transactions of AED 214M in November 2022.
Wadi Al Safa 5 is a sub-community in Dubai and is part of the greater Wadi Al Safa neighborhood. The neighborhood has grand houses and apartment complexes, all of which have modern conveniences and amenities.
At Wadi Al Safa 5, the off plan apartments, townhouses, and luxury off plan villas are available in various layouts to suit needs and provide outstanding privacy, security, and rapid access across the town. The spectacular residential neighborhood offers a luxurious lifestyle with convenient access to shopping malls, eateries, medical facilities, retail establishments, and entertainment places.
There were 54 ready-to-move-in villa sales in Villanova, with a total transaction value of AED 92 million.
The freehold neighborhood of Villanova was created by Dubai Properties and is a part of Dubailand. The project, which offers townhouses and villas with a Mediterranean theme, was introduced in 2016.
Villanova Dubai is strategically situated close to Muhammad Bin Zayed Road and Emirates Road (E611) in the southeast of Dubailand (E311). The residential properties in Villanova include 2, 3, 4 and 5-bedroom luxury oFFplan villas and townhouses with covered areas of 1,700 to 2,600 square feet.
Next Level Real Estate offers a stunning collection of ready and off plan apartments, townhouses and villas for sale. The expert team of agents can get you a property that best suits your needs based in one of the best-performing areas in Dubai.
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