The city surpassed previous market peaks, setting new records for investment volumes and experiencing a significant increase in foreign home ownership.
Below is a compilation of some of the most expensive properties sold in Dubai in 2023, mainly based on data from the Dubai Land Department (DLD):
- Como Residences Penthouse – AED 500 million
- Apartment in Jumeirah’s Marsa Al Arab – AED 420 million
- Apartment in Jumeirah Marsa Al Arab – AED 286 million
- Apartment at Bulgari Lighthouse Dubai in Jumeirah Bay Island – AED 143.5 million
- Hotel apartment in Business Bay’s Luxury Family Residence II – AED 125 million
- Apartment at Mr. C Residences Jumeirah – AED 36.7 million
- Apartment in the Bluewaters Residences – AED 8.66 million
- Apartment in Seventh Heaven, Al Barari – AED 5.27 million
Total sales transactions for all property types in the emirate reached over AED 378 billion from January 1 to December 12. More than 124,000 transactions were completed during the year, involving 96,083 units, 11,503 buildings and 16,808 plots of land.
April 2023 marked the peak of the market with transactions for existing properties worth AED 5.38 billion in a single day. Other notable days were March 27, when AED 3.89 billion worth of existing property sales were recorded, and October 9, with AED 4.65 billion worth of sales transactions.
Source: ArabianBusiness.com
