The market for sales of luxury villas, penthouses, and other premium properties broke all records in 2021. This number of transactions has not been observed since 2012, and their value has demonstrated the demand for luxury properties.
The last record of the year was the sale of a land plot in the Jumeirah Bay. It was bought for AED 80,000,000.
This is not the first big deal in the area. At the end of autumn, a penthouse was sold here for AED 40,000,000 and a house for over AED 120,000,000. It was the most expensive purchase in 2021, with prices in the country’s largest metropolis rising by almost 100%. Investors are returning to the Dubai market and choosing housing for over AED 36,729,596 ($10,000,000).
The Dubai Land Department notes that 1,685 transactions totaling over AED 7.4 billion were recorded in the last week of December alone. Of these, 177 apartments are sold for AED 2.15 billion. The top three most expensive sales include land for AED 758,020,000 in Al Habib, another plot for AED 263,750,000, and land for AED 150,000,000 in Palm Deira.
