Bayut & dubizzle’s Dubai sales market report for Q3 2022
- Top Neighbourhoods in Dubai
- Affordable Apartments
- Luxury Apartments
- Affordable Villas
- Luxury Villas
- Top Off-Plan Projects
Bayut & dubizzle’s Dubai Q3 sales property market report 2022 offers detailed insights into the property price trends observed during the past three months. And with the third quarter of 2022 wrapped up, it’s noticeable that the property sales trends in the Dubai real estate sector showed sustained stability throughout the period.
For our 2022 Q3 sales property market report Dubai, the data engineers at Bayut & dubizzle have compared property sales prices in Dubai recorded in Q3 2022 to those observed in Q2 2022.
Dubai property prices for the sale of villas and apartments increased slightly for both the luxury and affordable segments during Q3. A glance at the collective data accumulated by Bayut & dubizzle also reveals:
- The average sales price-per-square-foot increased by up to 14% for reasonably-priced properties.
- Upscale areas experienced increases of up to 6%.
We have segregated the popular areas for buying apartments and villas into ‘Affordable’ and ‘Luxury’ to offer a more tailored view of the Dubai real estate market in Q3 2022.
TOP NEIGHBOURHOODS IN DUBAI ACCORDING TO TRENDS ON BAYUT & DUBIZZLE
There have been some drastic changes in the global economic climate over the past few months. Given that, Dubai with its business-friendly initiatives and economic stability remains a popular option for international investment.
Based on our Dubai Sales real estate market report Q3 2022, investors showed the most inclination for:
- Jumeirah Village Circle
- Dubai Marina
- DAMAC Hills 2
- Dubai Hills Estate
According to the data provided by the Dubai Land Department, there were 22,229 sales transactions (ready and off-plan) recorded during Q3 2022, with a collective value of AED 50.83 billion. 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 Jumeirah Village Circle (JVC) | SALES VOLUME 1,379 | SALES VALUE AED 933.8M |
AREA Dubai Marina | SALES VOLUME 825 | SALES VALUE AED 1.7B |
AREA DAMAC Hills 2 | SALES VOLUME 340 | SALES VALUE AED 432.0M |
AREA Dubai Hills Estate | SALES VOLUME 95 | SALES VALUE AED 430.9M |
*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 & dubizzle.
Let’s now look at the detailed Dubai real estate sales market report Q3 2022, compiled using the advertised prices and search trends observed on Bayut & dubizzle.
For an accurate representation of Dubai property prices, our Q3 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 & DUBIZZLE DUBAI REAL ESTATE SALES MARKET REPORT Q3 2022
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022 | STUDIO | 1-BED | 2-BED |
|---|---|---|---|---|---|
| Jumeirah Village Circle (JVC) | ROI 7.44% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| STUDIO
| 1-BED
| 2-BED
|
| Business Bay | ROI 6.42% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| STUDIO
| 1-BED
| 2-BED
|
| Dubai Silicon Oasis | ROI 7.07% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| STUDIO
| 1-BED
| 2-BED
|
| Jumeirah Lake Towers (JLT) | ROI 8.07% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| STUDIO
| 1-BED
| 2-BED
|
| Dubai Sports City | ROI 8.11% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| STUDIO
| 1-BED
| 2-BED
|
An analysis of the Dubai property prices and search trends for Q3 2022 shows that Jumeirah Village Circle (JVC) remained the top choice for affordable apartments.
- The average price-per-square-foot for apartments for sale in JVC increased by 1.94% to average at AED 891.
- Investing in these budget properties will cost around AED 440k for studios, AED 701k for 1-bed and AED 1.01M for 2-bed flats.
Property buyers on a strict budget also showed an inclination towards the apartments in Business Bay.
- In Q3 2022, the average sales price-per-square-foot for apartments in the area was recorded at AED 1,508, following a 2.37% increase from Q2.
- To buy apartments in Business Bay, investors would be looking at an average budget of AED 812k for studio flats, AED 1.17M for 1-bed and AED 1.92M for 2-bed units.
- STUDIO
- |
- 1 BATH
- |
- 421 SQFT
- 1 BED
- |
- 1 BATH
- |
- 830 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 922 SQFT
- 3 BEDS
- |
- 4 BATHS
- |
- 1701 SQFT
According to our Dubai Q3 Sales property market report 2022 data, budget-conscious investors also showed interest in:
- Dubai Silicon Oasis
- Jumeirah Lake Towers (JLT)
- Dubai Sports City
All these areas recorded upticks of 2% to 14% in average sales price-per-square-foot. The highest increase was recorded for apartments in Dubai Silicon Oasis (14.09%), with landlords listing properties at higher price points to tackle increasing demand.
DUBAI SPORTS CITY OFFERS THE HIGHEST ROI FOR AFFORDABLE APARTMENTS IN DUBAI
As per our Dubai Q3 sales real estate market report 2022, prospective investors can find high-yielding affordable apartments in the following areas:
- Flats in Dubai Sports City recorded projected rental yields of 8.11% during Q3 2022.
- Jumeirah Lake Towers also offered a good ROI of 8.07% for buy-to-let flats.
- The average rental returns for affordable flats in JVC were recorded at 7.44%.
DUBAI MARINA HOLDS INVESTOR INTEREST FOR LUXURY APARTMENTS IN Q3 2022
DUBAI PROPERTY PRICES FOR LUXURY APARTMENTS FOR SALE: Q3 BAYUT & DUBIZZLE DUBAI PROPERTY SALES MARKET REPORT
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|
| Dubai Marina | ROI 6.98% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Downtown Dubai | ROI 6.22% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Palm Jumeirah | ROI 5.76% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Jumeirah Beach Residence (JBR) | ROI 5.92% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Dubai Hills Estate | ROI 7.17% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
Our combined Dubai sales real estate market report Q3 2022 reveals that Dubai Marina maintained the top spot for luxury apartments sales in the emirate:
- The average price-per-square-foot for flats for sale in Dubai Marina witnessed an increase of 2.18% to stand at AED 1,532 in Q3 2022.
- The cost to buy 1-bed flats in Dubai Marina averages at AED 1.24M, whereas the 2-bed and 3-bed units are priced at AED 2.08M and AED 3.43M on average, respectively.
- 3 BEDS
- |
- 4 BATHS
- |
- 2155 SQFT
- 2 BEDS
- |
- 2 BATHS
- |
- 1170 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 1733 SQFT
- 3 BEDS
- |
- 3 BATHS
- |
- 2505 SQFT
Downtown Dubai also remained popular among investors looking for luxury apartments for sale:
- The sales price-per-square-foot for flats in this well-connected district experienced a 3.23% increase, averaging at AED 2,365 in Q3 2022.
- Investors interested in the flats for sale in Downtown Dubai have paid an average of AED 1.82M for 1-bed, AED 3.38M for 2-bed and AED 5.54M for 3-bed units.
As per our Dubai Q3 Sales property market report 2022, potential buyers and investors also focused their interest on the luxury flats in:
- Palm Jumeirah
- Jumeirah Beach Residence (JBR)
- Dubai Hills Estate
An analysis of property sale price trends in Dubai observed during Q3 2022, show that apartments in these areas recorded moderate upticks of under 6% in the average price-per-square-foot.
- 2 BEDS
- |
- 3 BATHS
- |
- 1652 SQFT
DUBAI HILLS ESTATE YIELDS THE BEST ROI FOR LUXURY APARTMENTS IN DUBAI
Based on the data collected for our Dubai sales property market report for Q3 2022, the following areas yielded the best returns on luxury apartments for sale in Dubai:
- The buy-to-let flats in Dubai Hills Estate offered impressive rental returns of 7.17% during Q3 2022.
- Dubai Marina recorded projected rental yields of 6.98%.
- 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.
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 & DUBIZZLE DUBAI SALES MARKET REPORT Q3 2022
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|
| DAMAC Hills 2 | ROI 5.51% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 3-BED
| 4-BED
| 5-BED
|
| Jumeirah Village Circle (JVC) | ROI 6.82% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 3-BED
| 4-BED
| 5-BED
|
| Dubailand | ROI 5.95% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 3-BED
| 4-BED
| 5-BED
|
| The Springs | ROI 5.73% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 3-BED
| 4-BED
| 5-BED
|
| DAMAC Hills | ROI 7.61% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 3-BED
| 4-BED
| 5-BED
|
According to the Dubai Q3 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 averaged at AED 636, following a 3.91% increase from Q2 2022.
- In Q3 2022, the 3-bed villas in the area were priced at AED 1.16M, whereas buyers paid around AED 1.50M and AED 1.87M for 4 and 5-bed houses, respectively.
The data collected for this Dubai real estate sales market report Q3 2022 revealed investor interest in affordable Jumeirah Village Circle villas:
- This popular area experienced an increase of 1.04% in average sales price-per-square-foot, standing at AED 672 in Q3 2022.
- The homes for sale in JVC recorded average prices of AED 1.89M for 3-bed, AED 2.27M for 4-bed and AED 2.84M for 5-bed units.
Other areas that garnered investor interest for reasonably-priced villas include:
- Dubailand
- The Springs
- DAMAC Hills
The sales price-per-square-foot for villas in these three districts experienced upticks of between 2% and 5%.
DAMAC HILLS YIELDS THE BEST RENTAL RETURNS IN DUBAI FOR AFFORDABLE VILLAS
For affordable buy-to-let villas in Dubai, the following areas offered the most lucrative returns in Q3 2022:
- The villa properties in DAMAC Hills recorded impressive projected rental yields of 7.61%.
- Jumeirah Village Circle also offered rental yields of 6.82% for affordable villas in Dubai.
- The rental returns on villas in Dubailand averaged at 5.95%
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 & DUBIZZLE DUBAI SALES MARKET REPORT Q3 2022
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022 | 4-BED | 5-BED | 6-BED |
|---|---|---|---|---|---|
| Dubai Hills Estate | ROI 5.75% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 4-BED
| 5-BED
| 6-BED
|
| Arabian Ranches | ROI 5.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 4-BED
| 5-BED
| 6-BED
|
| Palm Jumeirah | ROI 4.64% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 4-BED
| 5-BED
| 6-BED
|
| The Villa | ROI 5.42% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 4-BED
| 5-BED
| 6-BED
|
| Arabian Ranches 2 | ROI 5.74% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 4-BED
| 5-BED
| 6-BED
|
The Dubai sales property price trends observed on Bayut and dubizzle show that Dubai Hills Estate emerged as the most popular district for luxury villa sales in the emirate:
- The sales price-per-square-foot for villa properties in the area increased by 3.36%, to average at AED 1,660 in Q3 2022.
- The average cost to buy villas in Dubai Hills Estate is AED 5.27M for 4-bed units, AED 8.56M for 5-bed villas and AED 23.9M for 6-bed houses.
Arabian Ranches also remained popular among investors looking for luxury villa sales:
- Villas in this family-friendly district became slightly more expensive, recording a 1.52% increase in the price-per-square-foot, to average at AED 1,241.
- The price to buy villas in Arabian Ranches averaged at AED 4.89M for 4-bed units, AED 6.81M for 5-bed and AED 11.6M for 6-bed houses.
Investors looking for upscale villas in Dubai also showed an inclination towards:
- Palm Jumeirah
- The Villa
- Arabian Ranches 2
While the average price-per-square-foot in Palm Jumeirah and Arabian Ranches 2 increased by up to 3%, there was a decrease of 2.15% recorded in the average price-per-square-foot of properties in The Villa.
ARABIAN RANCHES OFFERS THE HEALTHIEST RETURN ON INVESTMENT IN DUBAI FOR LUXURY HOUSES
As per our Dubai Q3 Sales property market report 2022, here are the areas that offered the best projected rental yields for luxury villas:
- With 5.94% rental yields, Arabian Ranches offered the highest ROI for upscale villas.
- The houses in Dubai Hills Estate yielded average rental returns of 5.75% in Q3 2022.
- The ROI for homes in Arabian Ranches 2 averaged at 5.74%.
POPULAR AREAS FOR OFF-PLAN PROPERTIES IN DUBAI
This section of the Bayut and dubizzle Dubai Q3 sales property market report 2022, reveals the areas that successfully attracted investor interest for off-plan apartments and villas.
TOP PROJECTS FOR OFF-PLAN APARTMENTS IN DUBAI
PROJECT | AREA | CATEGORY |
|---|---|---|
PROJECT District 10 | AREA Jumeirah Village Circle (JVC) | CATEGORY Affordable |
PROJECT V Tower | AREA Dubai Residence Complex | CATEGORY Affordable |
PROJECT Torino | AREA Arjan | CATEGORY Affordable |
PROJECT Binghatti Canal Building | AREA Business Bay | CATEGORY Luxury |
PROJECT Sobha Hartland | AREA Mohammed Bin Rashid City | CATEGORY Luxury |
PROJECT Opera District | AREA Downtown Dubai | CATEGORY Luxury |
During Q3 2022, potential investors looking for off-plan flats in Dubai were mostly keen on property options in Jumeirah Village Circle, Dubai Residence Complex and Arjan:
- As per our 2022 Q3 Dubai sales property market report, District 10 in JVC emerged as the most popular choice for budget off-plan apartments in Dubai.
- Investors also showed considerable interest in V Tower, Dubai Residence Complex and Torino, Arjan for affordable off-plan flats in Dubai.
In the luxury segment, investors showed an inclination towards the new developments in Dubai’s centrally-located neighbourhoods:
- Binghatti Canal Building in Business Bay was the most popular choice for investors interested in luxury off-plan flats.
- Luxury off-plan flats in Sobha Hartland Dubai and Downtown Dubai’s Opera District were also popular among high-net-worth investors.
TOP PROJECTS FOR OFF-PLAN VILLAS IN DUBAI
PROJECT | AREA | CATEGORY |
|---|---|---|
PROJECT Rukan | AREA Dubailand | CATEGORY Affordable |
PROJECT Avencia | AREA DAMAC Hills 2 | CATEGORY Affordable |
PROJECT Portofino | AREA DAMAC Lagoons | CATEGORY Luxury |
PROJECT Elan | AREA Tilal Al Ghaf | CATEGORY Luxury |
PROJECT Green Acres | AREA DAMAC Hills | CATEGORY Luxury |
Based on the data collected for our Dubai Q3 sales real estate market report 2022, interest in the affordable off-plan market was mostly focused on properties in suburban districts:
- With expected completion earmarked for Q2 2023, the villas in Rukan, Dubailand emerged as a favourite for budget investors.
- Avencia in DAMAC Hills 2 also garnered considerable interest for reasonably-priced off-plan villas.
Investors interested in luxury off-plan villas showed a greater inclination for master-planned communities:
- Portofino in DAMAC Lagoons was the top choice for investors in search of luxury off-plan villas in Dubai.
- Elan in Tilal Al Ghaf Dubai and Green Acres in DAMAC Hills also managed to capture investor interest for high-end off-plan villas in Dubai.
That wraps up the Bayut and dubizzle Dubai Q3 2022 sales property market report. For an in-depth look at how the rental market fared over the same period, take a look at our Q3 2022 Dubai Rental Report.
Also keep an eye out for our soon-to-release Q3 2022 real estate market reports for Abu Dhabi, Sharjah and Ajman.
Disclaimer: The above Dubai sales real estate market report (MKT RPT Q3 2022) is based on prices for ready properties advertised by real estate agencies on behalf of their clients on Bayut.com & dubizzle property (excluding room share), and is not representative of actual real estate transactions conducted in Dubai.
