Bayut’s Dubai annual sales market report for 2022

• Top Neighbourhoods in Dubai
• Affordable Apartments
• Luxury Apartments
• Affordable Villas
• Luxury Villas
• Top Off-Plan Projects

We just wrapped up on what could accurately be described as one of the best-ever years for real estate in Dubai. Bayut’s annual Dubai sales market report takes a detailed look into the property price trends observed during the past year.

For Bayut’s 2022 sales property market report, our data analysts have compared property sales prices in Dubai recorded in 2022 to those observed in 2021.

Over the last year, the Dubai property sector has boomed exponentially. Dubai property prices for the sale of villas and apartments in 2022 have increased significantly, in both the luxury and affordable segments. A quick look at consumer search trends on Bayut reveals:

• The average sale price-per-square foot for affordable properties increased by up to 11%.

• Properties in the luxury segment reported increases of up to 24% during 2022.

We have segregated popular areas for buying apartments and villas into ‘Affordable’ and ‘Luxury’ to offer a more tailored view of the Dubai real estate market in 2022.

TOP NEIGHBOURHOODS IN DUBAI ACCORDING TO TRENDS ON BAYUT

With the global economic climate rapidly changing, investors across the globe are looking for greater stability for their financial assets. This is why Dubai, with its attractive investment policies, economic stability and thriving real estate sector, is so appealing to investors. Given these factors, it is no surprise that there has been a massive influx of foreign investment in the emirate’s real estate sector, creating unprecedented demand for properties in Dubai.

Based on the data gathered for our Dubai annual sales real estate market report for 2022, potential buyers mainly searched for properties in:

• DAMAC Hills 2
• Jumeirah Village Circle (JVC)
• Dubailand
• Arabian Ranches
• Dubai Hills Estate

According to the Dubai Land Department, there were a total of 97,466 sales transactions (ready and off-plan) worth AED 265.6 billion, recorded during 2022. Using the Dubai Transactions feature on Bayut, here’s a look at how the most popular areas contributed to those figures. 

AREA	SALES VOLUME	SALES VALUE
AREA DAMAC Hills 2	SALES VOLUME 1,356	SALES VALUE AED 1.6B
AREA Jumeirah Village Circle	SALES VOLUME 5,647	SALES VALUE AED 5.3B
AREA Dubailand	SALES VOLUME 2,506	SALES VALUE AED 4.0B
AREA Arabian Ranches	SALES VOLUME 409	SALES VALUE AED 1.9B
AREA Dubai Hills Estate	SALES VOLUME 2,536	SALES VALUE AED 12.5B

*The data shown in the table above has been sourced directly from the DLD. The areas in the table have been selected based on the overall search volume observed on Bayut.

Let’s now look at the detailed annual real estate sales market report for Dubai 2022, compiled using the advertised prices and search trends observed on Bayut.

For an accurate representation of Dubai property prices, our 2022 sales market report compares the average price-per-square-foot for an area. Please note that these prices are subject to change based on multiple factors including amenities available, the developer involved in the project, location and other key factors.

JUMEIRAH VILLAGE CIRCLE HAS REMAINED THE MOST POPULAR AREA TO BUY AFFORDABLE APARTMENTS IN DUBAI

AVERAGE SALES PRICES FOR AFFORDABLE APARTMENTS: BAYUT ANNUAL DUBAI REAL ESTATE SALES MARKET REPORT 2022

POPULAR AREAS	ROI	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021	STUDIO	1-BED	2-BED
Jumeirah Village Circle (JVC)	ROI 7.34%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 896 7.25%	STUDIO 440,000	1-BED 708,000	2-BED 1,074,000
Jumeirah Lake Towers (JLT)	ROI 8.02%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,012 10.88%	STUDIO 546,000	1-BED 886,000	2-BED 1,421,000
Dubai Silicon Oasis	ROI 7.98%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 623 2.90%	STUDIO 314,000	1-BED 463,000	2-BED 803,000
Dubai Sports City	ROI 8.08%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 648 8.33%	STUDIO 326,000	1-BED 507,000	2-BED 751,000
International City	ROI 9.22%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 477 4.84%	STUDIO 232,000	1-BED 328,000	2-BED 709,000

An analysis of the search trends and property prices in Dubai for 2022 showed that Jumeirah Village Circle (JVC) reigned as the top choice for affordable apartments:

• The average price-per-square-foot for flats for sale in JVC increased by 7.25% to stand at AED 896 in 2022.

• Buying these affordable properties would cost around AED 440k for studios, AED 708k for 1-bed and AED 1.07M for 2-bed flats.

Jumeirah Lake Towers (JLT) was another area that emerged as a preferred choice for investors on a budget:

• During 2022, the average sales price-per-square-foot for flats in JLT averaged at AED 1,012, recording a 10.9% increase from 2021.

• Investors interested in buying apartments in JLT could expect to pay AED 546k for studio flats, AED 886k for 1-bed and AED 1.42M for 2-bed units.

Based on the data collected for this Dubai real estate market report, small-ticket investors also showed interest in:

• Dubai Silicon Oasis
• Dubai Sports City
• International City

The average sales price-per-square-foot for properties in these areas experienced upticks of 2% to 8%. The most noticeable increase was recorded for flats in Dubai Sports City (8.33%), with landlords listing properties at higher price points in response to increasing demand.

SALES TRANSACTIONS FOR AFFORDABLE APARTMENTS AS PER DLD

According to the Dubai Land Department, here are the average sales prices reported for apartments in these areas.

AREA	AVG. TRANSACTION PRICE	CHANGE FROM 2021
AREA Jumeirah Village Circle (JVC)	AVG. TRANSACTION PRICE 658,099	CHANGE FROM 2021 6.56 %
AREA Jumeirah Lake Towers (JLT)	AVG. TRANSACTION PRICE 1,192,223	CHANGE FROM 2021 8.97 %
AREA Dubai Silicon Oasis	AVG. TRANSACTION PRICE 489,847	CHANGE FROM 2021 0.61 %
AREA Dubai Sports City	AVG. TRANSACTION PRICE 487,507	CHANGE FROM 2021 -1.98 %
AREA International City	AVG. TRANSACTION PRICE 365,962	CHANGE FROM 2021 -17.74 %

INTERNATIONAL CITY OFFERS THE HIGHEST ROI FOR AFFORDABLE APARTMENTS IN DUBAI

According to our Dubai sales real estate market report 2022, the following areas offer high-yielding affordable apartments:

• Flats in International City offered projected rental returns of 9.22% during 2022.

• Buy-to-let flats in Dubai Sports City also offered a good ROI of 8.08%.

• The affordable flats in Jumeirah Lake Towers offered average rental returns of 8.02%.

DUBAI MARINA HOLDS INVESTOR INTEREST FOR LUXURY APARTMENTS IN 2022

DUBAI PROPERTY PRICES FOR LUXURY APARTMENTS FOR SALE: 2022 BAYUT DUBAI PROPERTY SALES MARKET REPORT

POPULAR AREAS	ROI	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021	1-BED	2-BED	3-BED
Dubai Marina	ROI 7.04%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,501 11.62%	1-BED 1,263,000	2-BED 2,018,000	3-BED 3,299,000
Downtown Dubai	ROI 6.22%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 2,239 14.66%	1-BED 1,760,000	2-BED 3,324,000	3-BED 5,613,000
Business Bay	ROI 6.34%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,493 13.17%	1-BED 1,180,000	2-BED 1,937,000	3-BED 2,958,000
Palm Jumeirah	ROI 6.01%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 2,021 12.88%	1-BED 2,598,000	2-BED 3,131,000	3-BED 4,661,000
Jumeirah Beach Residence (JBR)	ROI 5.62%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,784 5.66%	1-BED 1,960,000	2-BED 2,816,000	3-BED 2,978,000

Our Dubai annual sales market report for 2022 shows that Dubai Marina remained the most in-demand area for luxury apartments sales:

• The average price-per-square-foot for apartments for sale in Dubai Marina experienced an uptick of 11.6% to average at AED 1,501 in 2022.

• To buy properties in the district, investors have paid an average of AED 1.26M for 1-bed flats. The average sales price for 2-bed and 3-bed units stood at AED 2.02M and AED 3.23M, respectively.

Downtown Dubai also maintained its popularity among buyers and investors interested in luxury apartments for sale:

• The sales price-per-square-foot for flats in Downtown Dubai increased by 14.7% to average at AED 2,239 in 2022. The steady demand for properties in the area has led landlords to push prices upwards.

• During 2022, the flats for sale in Downtown Dubai were priced at an average of AED 1.76M for 1-bed, AED 3.32M for 2-bed and AED 5.61M for 3-bed units.  

As per our Dubai sales property market report 2022, potential investors and buyers also showed interest for luxury flats in:

• Business Bay
• Palm Jumeirah
• Jumeirah Beach Residence (JBR)

Based on the property sale price trends in Dubai observed during the last year, the flats in these districts recorded upticks of 5% to 14% in terms of average price-per-square-foot. Most of these price hikes could be consequential to the increased demand for properties in these areas.

SALES TRANSACTIONS FOR LUXURY APARTMENTS AS PER DLD

Here’s how the average sales prices for the sale of luxury apartments in these areas fared in 2022, as per the DLD. 

AREA	AVG. TRANSACTION PRICE	CHANGE FROM 2021
AREA Dubai Marina	AVG. TRANSACTION PRICE 1,583,264	CHANGE FROM 2021 1.16 %
AREA Downtown Dubai	AVG. TRANSACTION PRICE 2,355,635	CHANGE FROM 2021 8.16 %
AREA Business Bay	AVG. TRANSACTION PRICE 1,413,446	CHANGE FROM 2021 -0.57 %
AREA Palm Jumeirah	AVG. TRANSACTION PRICE 3,824,687	CHANGE FROM 2021 26.92 %
AREA Jumeirah Beach Residence (JBR)	AVG. TRANSACTION PRICE 2,607,030	CHANGE FROM 2021 15.60 %

DUBAI MARINA YIELDS THE BEST ROI FOR LUXURY APARTMENTS IN DUBAI

As per our data for the Dubai sales market report 2022, the luxury apartments for sale in Dubai in the following areas yielded the best returns:

• The buy-to-let flats in Dubai Marina recorded the highest rental returns of 7.04% in 2022.

• Business Bay offered projected rental yields of 6.34%.

• The ROI for luxury apartments in Downtown Dubai averaged at 6.22%.

The projected ROIs for apartments in Dubai may vary depending on the location of the building, its developer and the amenities offered.

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DAMAC HILLS 2 RANKS AS THE MOST POPULAR CHOICE FOR BUYING AFFORDABLE VILLAS IN DUBAI

AVERAGE PROPERTY PRICES IN DUBAI TO BUY AFFORDABLE HOUSES: BAYUT DUBAI ANNUAL SALES MARKET REPORT 2022

POPULAR AREAS	ROI	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021	3-BED	4-BED	5-BED
DAMAC Hills 2	ROI 5.62%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 626 2.89%	3-BED 1,117,000	4-BED 1,453,000	5-BED 1,923,000
Jumeirah Village Circle (JVC)	ROI 6.90%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 660 10.17%	3-BED 1,906,000	4-BED 2,257,000	5-BED 2,864,000
Dubailand	ROI 6.07%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 852 8.36%	3-BED 1,812,000	4-BED 2,260,000	5-BED 4,174,000
The Springs	ROI 5.79%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,160 7.40%	3-BED 3,039,000	4-BED 3,658,000	5-BED N/A
Al Furjan	ROI 5.82%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 897 8.95%	3-BED 2,500,000	4-BED 2,792,000	5-BED 4,676,000

According to the Dubai sales property market report 2022, DAMAC Hills 2 remained a favourite for investors interested in affordable villas for sale in Dubai: 

• The price-per-square-foot for villas in DAMAC Hills 2 increased by 2.89% to average at AED 626 in 2022.

• During the year, buyers paid AED 1.12M on average for 3-bed villas in the community. The 4 and 5-bed houses were priced at AED 1.45M and AED 1.92M on average, respectively.

The affordable villas in Jumeirah Village Circle also attracted small ticket investors:

• The properties here recorded an increase of 10.17% in sales price-per-square-foot, averaging at AED 660 in 2022.

• The average prices for homes for sale in JVC stood at AED 1.91M for 3-bed, AED 2.26M for 4-bed and AED 2.86M for 5-bed units.

Other areas that appealed to investors for reasonably-priced villas in 2022 include:

• Dubailand
• The Springs
• Al Furjan

The average sales price-per-square-foot for reasonably-priced villas in these three neighbourhoods recorded increases of up to 9%.

SALES TRANSACTIONS FOR AFFORDABLE VILLAS AS PER DLD

Take a look at the average sale prices for villas in these neighbourhoods, recorded by the DLD during 2022. 

AREA	AVG. TRANSACTION PRICE	CHANGE FROM 2021
AREA DAMAC Hills 2	AVG. TRANSACTION PRICE 1,253,266	CHANGE FROM 2021 4.28 %
AREA Jumeirah Village Circle (JVC)	AVG. TRANSACTION PRICE 1,970,551	CHANGE FROM 2021 8.13 %
AREA Dubailand	AVG. TRANSACTION PRICE 2,191,356	CHANGE FROM 2021 1.95 %
AREA The Springs	AVG. TRANSACTION PRICE 2,827,150	CHANGE FROM 2021 13.91 %
AREA Al Furjan	AVG. TRANSACTION PRICE 2,760,852	CHANGE FROM 2021 8.72 %

JUMEIRAH VILLAGE CIRCLE YIELDS THE BEST RENTAL RETURNS IN DUBAI FOR AFFORDABLE VILLAS

For affordable villas in Dubai, these areas offered the most attractive ROIs in 2022:

• The villa properties in Jumeirah Village Circle recorded an impressive projected ROI of 6.90%.

• The buy-to-let villas in Dubailand also offered healthy rental yields of 6.07% for affordable villas.

• The projected rental yield for villas in Al Furjan averaged at 5.82%

DUBAI HILLS ESTATE HOLDS THE TOP SPOT FOR BUYING LUXURY HOMES IN DUBAI

REAL ESTATE PRICES IN DUBAI FOR LUXURY VILLAS IN POPULAR NEIGHBOURHOODS: BAYUT DUBAI ANNUAL SALES MARKET REPORT 2022

POPULAR AREAS	ROI	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021	4-BED	5-BED	6-BED
Arabian Ranches	ROI 5.63%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,241 8.36%	4-BED 4,798,000	5-BED 6,678,000	6-BED 10,990,000
Dubai Hills Estate	ROI 6.17%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,541 17.53%	4-BED 5,097,000	5-BED 8,001,000	6-BED 21,245,000
DAMAC Hills	ROI 6.95%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,098 9.13%	4-BED 3,241,000	5-BED 5,749,000	6-BED 11,447,000
Palm Jumeirah	ROI 4.72%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 3,679 23.54%	4-BED 17,027,000	5-BED 25,716,000	6-BED 51,774,000
Arabian Ranches 2	ROI 5.94%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 1,125 9.12%	4-BED 3,778,000	5-BED 5,137,000	6-BED 7,748,000

For luxury villas, investors mostly focused on the properties in Arabian Ranches during 2022:

• The sales price-per-square-foot for houses in the area increased by 8.36%, to average at AED 1,241 in 2022.

• To buy villas in Arabian Ranches, investors can expect to pay AED 4.79M for 4-bed units, AED 6.68M for 5-bed villas and AED 10.9M for 6-bed houses.

Dubai Hills Estate also maintained its popularity among buyers looking for expensive villas for sale in Dubai:

• Villas in this district experienced a significant increase of 17.53% in the price-per-square-foot, to average at AED 1,541. The price hike could be attributed to the handover of new properties in the Golf Place and Golf Grove sub-communities.

• The price to buy villas in Dubai Hills Estate averaged at AED 5.10M for 4-bed units, AED 8M for 5-bed and AED 21.2M for 6-bed houses.

Potential buyers interested in upscale villas in Dubai also considered properties in:

• DAMAC Hills
• Palm Jumeirah
• Arabian Ranches 2

The average price-per-square-foot in these districts reported upticks of between 9% and 24%. The highest increase was observed in Palm Jumeirah (23.54%), owing to an influx of property listings from Fairmont Palm Residences, Signature Villas Palm Jumeirah, Palma Residences and Kingdom Of Sheba.

SALES TRANSACTIONS FOR LUXURY VILLAS AS PER DLD

For 2022, here are the average sales prices in these areas as reported by the DLD.

AREA	AVG. TRANSACTION PRICE	CHANGE FROM 2021
AREA Arabian Ranches	AVG. TRANSACTION PRICE 4,923,866	CHANGE FROM 2021 16.91 %
AREA Dubai Hills Estate	AVG. TRANSACTION PRICE 5,426,562	CHANGE FROM 2021 33.82 %
AREA DAMAC Hills	AVG. TRANSACTION PRICE 3,986,927	CHANGE FROM 2021 14.26 %
AREA Palm Jumeirah	AVG. TRANSACTION PRICE 22,211,677	CHANGE FROM 2021 26.19 %
AREA Arabian Ranches 2	AVG. TRANSACTION PRICE 3,283,534	CHANGE FROM 2021 -4.90 %

DAMAC HILLS OFFERS THE HEALTHIEST RETURN ON INVESTMENT IN DUBAI FOR LUXURY HOUSES

Based on the data collected for our Dubai annual sales market report 2022, the following districts offered the highest projected rental yields for expensive villas:

• The houses in DAMAC Hills yielded the most lucrative average rental returns of 6.95% in 2022.

• With 6.17% rental yields, Dubai Hills Estate also offered a healthy ROI for luxury villas.

• The ROI for homes in Arabian Ranches 2 averaged at 5.94%.

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POPULAR AREAS FOR OFF-PLAN PROPERTIES IN DUBAI

This section of the Bayut sales property market report 2022 reveals the areas that captured investor interest for off-plan villas and apartments.

TOP PROJECTS FOR OFF-PLAN APARTMENTS IN DUBAI

PROJECT	AREA	CATEGORY
PROJECT District 10	AREA Jumeirah Village Circle (JVC)	CATEGORY Affordable
PROJECT Skyz by Danube	AREA Arjan	CATEGORY Affordable
PROJECT Arabian Gate 1	AREA Dubai Residence Complex	CATEGORY Affordable
PROJECT Binghatti Canal Building	AREA Business Bay	CATEGORY Luxury
PROJECT Downtown Views II	AREA Downtown Dubai	CATEGORY Luxury
PROJECT Meydan Avenue	AREA Meydan City	CATEGORY Luxury

During 2022, prospective investors in search of off-plan apartments in Dubai were mostly keen on property options in suburbs like Jumeirah Village Circle, Arjan and Dubai Residence Complex:

• Based on the data collected for our annual Dubai annual sales property market report, District 10 in JVC was the most preferred for budget off-plan flats in Dubai.

• Investors also showed an inclination towards Skyz by Danube in Arjan and Arabian Gate 1 in Dubai Residence Complex for reasonably-priced off-plan flats in Dubai.

High net worth investors were keener on centrally-located neighbourhoods for luxury off-plan apartments:

• Binghatti Canal Building in Business Bay emerged as the top choice for investors in search of luxury off-plan flats.

• The more expensive off-plan flats in Downtown Dubai’s Downtown Views II and Meydan Avenue, Meydan City were also popular options among luxury investors.

TOP PROJECTS FOR OFF-PLAN VILLAS IN DUBAI

PROJECT	AREA	CATEGORY
PROJECT Villanova	AREA Dubailand	CATEGORY Affordable
PROJECT Portofino	AREA DAMAC Lagoons	CATEGORY Affordable
PROJECT Avencia	AREA DAMAC Hills 2	CATEGORY Affordable
PROJECT Alaya	AREA Tilal Al Ghaf	CATEGORY Luxury
PROJECT Joy	AREA Arabian Ranches 3	CATEGORY Luxury
PROJECT Green Acres	AREA DAMAC Hills	CATEGORY Luxury

As per the data collected for our Dubai annual sales market report 2022, investors looking for affordable off-plan villas showed greater interest in suburban properties:

• Villanova in Dubailand attracted the most investor interest during 2022 for off-plan budget villas.

• Portofino in DAMAC Lagoons and Avencia in DAMAC Hills 2 also appealed to property buyers searching for reasonably priced off-plan villas.

In the luxury segment, those looking for off-plan villas showed significant interest in master-planned communities:

• Alaya in Tilal Al Ghaf Dubai emerged as the top choice for investors interested in luxury off-plan villas.

• Joy in Arabian Ranches 3 and Green Acres in DAMAC Hills also garnered healthy investor interest for luxury off-plan villas in Dubai.

Commenting on the findings, Haider Ali Khan, the CEO of Bayut & dubizzle and the Head of EMPG MENA said:

“It has been well documented over the last year that the real estate market has outperformed expectations, with record-breaking transactions, attractive new launches, and favourable investment opportunities. In 2022, the market also moved towards greater digitisation and transparency.

We at Bayut have always been at the forefront of providing more authentic content to our users and we are working closely with the DLD to make sure we continue to improve the quality of content listed on the platforms as well as provide transactional data on Bayut to make our users more aware of what’s happening in the market. These initiatives should also help strengthen the appeal of Dubai’s market among investors from global markets.

The demand for real estate in the city has continued to rise, as evidenced by the transaction data released by DLD, showing both value and volume have increased by over 50% year-on-year. Traffic and inquiries on Bayut have also increased significantly over the past year, reflecting the trend of higher-than-usual demand in the market.

In my opinion, Dubai has done a fantastic job of managing the growth initiatives in the past few years and we are all reaping the benefits of the hard work put in by the authorities. I see Dubai continuing to consolidate its position as a destination of choice and making expectations from 2023 very exciting.”

That brings us to the end of Bayut’s annual Dubai sales market report 2022. To get a better idea of the rental segment of the market, take a look at our 2022 Annual Dubai Rental Report.

Our 2022 annual real estate market reports for Abu Dhabi, Sharjah and Ajman will be released soon. So, stay tuned to MyBayut.

Disclaimer: The above Dubai sales real estate market report (MKTT RPT YE 2022) is based on prices for ready properties advertised by real estate agencies on behalf of their clients on Bayut.com (excluding room share), and is not representative of actual real estate transactions conducted in Dubai, unless specified as based on DLD data.