![](https://lh4.googleusercontent.com/wDN10xO_s5Fbi0vCO0X1WpZ5nJMAI49maxtQTFR80Q0UXhgXplGVAPziPwUgWrr1-mDfpy4nj31C9DsYidWBQvn2k9hrXNMaXO6NZWFjHpRvXcCSlDNyuQV2E_YrPa3fUW8urM27tpIRy4QXS3zTonmFfuKm2P4kY6cNjZ4yivk8x7airoFnL5CvCQnuDA)
November was the best-performing month in the history of the Dubai property market.
There were nearly 10,600 transactions in the month of November.
We witnessed a sales volume increase of over 50% compared to November 2021.
The total sales value reached nearly AED 30B, and the property sales value is up by 65% compared to November 2021.
Apartments continue to be the main interest of investors. There was an increase of over 74% in apartment sales compared to November 2021, with nearly 8,000 transactions being made.
![](https://lh5.googleusercontent.com/HBa-ANH-NMPPGsVYhABkLna6XzToKowo-cvl9hj0alioRIpubTqQbbBASCzZCA_Wg4sguOVUcMHhBTHHLiqy1lButj2gT0ga5XOGbjTWl4JVdOtfUiumI2lCgvcpW6Obg81yFAAUZEapEecM1oKZM5RU2dj1rtXt-yop_X41DuAr9ZNXus1_NutT8YP0UQ)
Monthly apartment sales volume - 2022 | Off-plan and ready combined
![](https://lh3.googleusercontent.com/9f1-VvBYULUjoGUP_WJfXLC5H7xYXZ4c_0WXxSqiPSU9GibRwPTYZfKgp3rBeriZgzY5bolGAphVlUlgflC6N1G0iJO306GbAwwzm1To1AmGFBPhSZ1lEwuQpenETCvCdXMH1c6W3P4lY_IM-BvdsXkNsw_nDhHQqxlNhVFtD2S2kXumycIn-GYzzXBTTg)
Property sales volume in November over the years - All types - Off-plan and ready combined - DXB Interact
![](https://lh3.googleusercontent.com/6CWlY2yUwgkwEqJKQFXul21v883KZvyapXFvYmoBjrO1pPhRH4vkyfOdMLfMfE5hO573btswtWQHYnMCbAOoF3vFtcZJfNsEP8oKLsGSVzmofYbFmWD2Wmg6-4DpNPP7CAUt_v5MfjZmDxAJbHh65bpH-Y-dZNT2sGKByoLu-_RE-Tiq5BqNdII_rpUtAg)
Property sales value in November over the years - All types - Off-plan and ready combined - DXB Interact
Mortgage Transactions and Value
We are seeing a major increase in both the number of mortgage transactions and mortgage value, indicating a growing number of live-in buyers, and people moving to Dubai from other countries.
November’s mortgage value was more than double that of 2021, at over AED 17B.
![](https://lh3.googleusercontent.com/7VSGVplsqb3UoYbLWzF0jy4HPEv3Yeuxo0sVxXpx8-7CuOqPyzSX_Scp2JPGVpdWScJOYV3XvU2fOnJ6DP7cRsQdqWwraqSQL4nCoOLTstYqQcmKQcu2dcysiB-gsTftgjV6nFv_MQ6lLGbiZbWnDB8tCJPRgSpKmmZvxtKbgIzFqM0-fIPh92FPz5ISQg)
Price Changes
The average price per square foot is the highest on record for the month of November, at just over AED 1,300/sqft.
![](https://lh6.googleusercontent.com/6j-wp1Ny9ZFEuHlA_ZLEVRIst5sFcUBW9DzLZEUeN5GgGq-T_CH2MyBXtAkZVZQJc6KcmuuwVYaDV42mi4Z4hesqHu8uqjUGXzqC4Us211PmtZsTCtCys3OWF-m0HgXJ5HDzYznVeVhSvVktgH9n1TBO5FWeqINs45rsaKydARtMQdKZBcOMcYprSy8E7Q)
Average property price/sqft for November - All property types
Price Changes by Property Type
Type | Avg. AED Price | vs. Aug 2014 % | vs. Aug 2021 % |
Off-plan apartment | AED 1.6M | 33% | 4% |
Off-plan villa | AED 2M | 8% | 1.5% |
Ready apartment | AED 1.9M | 23.5% | 9% |
Ready villa | AED 2.5M | -27% | -6% |
Transactions Breakdown
Apartment sales were once again responsible for a vast majority of the transactions.
- Over 7,800 apartments were sold, up nearly 75% vs. November 2021, amounting to AED 16.6B.
- Over 900 villa transactions occurred, which is a decrease of more than 50% vs. November 2021, amounting to nearly AED 3B.
- Over 1,500 plots were sold, at a 426% jump compared to November 2021, amounting to nearly AED 10B in sales value.
- Over 260 commercial property transactions took place, which is down by 5% compared to November 2021, amounting to just over AED 400M.
Off-Plan Vs. Ready
Off-plan sales made for 55% of the total sales volume, and 63% of the overall sales value. (all property types)
![](https://lh6.googleusercontent.com/-dY9GmD55u8SBPCofs_avJ2_KzydQ098q_TE3Lj3XDW6mTv6A76NxbnVW7eqwUMkGYP8EZgw3KX0ceFi3M5NlAMwV8HbYMLtZ0_uzskNssof6hlHVe_hD9Fqox8Rd1Q0a3GQJl7iPDFt2UbLGza4D1nCvodZZ6oAG9-I8ymPmrsSVYrFi_hIlOKcd5GDOg)
Top Performing Areas
![](https://lh5.googleusercontent.com/1UjVKGXqVLVvp6zdYsf298MNyubOtGHw04S8TA0rHcMUbGr9jbvw93n3sh_s833fm1KuI8FUVUGphwBOz5ODxIPP2kiL-7HLjw_ktQ6VNcPyuZt8PwfUBTxVKbFDLfh_FzYSI4RrBydIaQNp54RlRBTfV4Olo7A7LWR41dyzobz7R4HtzQGGZO8kMDkEsQ)
Business Bay
1,084 off-plan and ready property transactions occurred in Business Bay, taking this highly sought-after location to the top of our list, with a total sales value of over AED 2B.
Al Merkadh (MBR City) was the highest-selling off-plan apartment community by a long shot, with over 800 transactions valued at a total of over AED 1.2B
![](https://lh6.googleusercontent.com/UshHAuhKQAZs-4ejoyIXxeywJVkQrFdZ8emY5RIvRxzRcWSCEYaVWhrCMdWYcu5efDIpKtqIs3apBnZjptThzIJV_2cDAZm9Bus3jvWhGh5Vmfg3YXumO1qO4wlPoRGX_hTKFwqIEPClZX882UQ_XeLZsJOqC6ImTZNf1W272xqWdz0HowpKBITdb30DsQ)
Off-plan apartment sales - November
Apartments
- Off-Plan: Al Merkadh - 828 transactions - Total value: AED 1.2B
- Ready: Dubai Marina - 451 transactions - Total value: AED 1.2B
Villas
- Off-Plan: Wadi Al Safa 5 - 96 transactions - Total value: AED 214M
- Ready: Villanova - 54 transactions - Total value: AED 92M
Commercial
- Off-Plan: Al Merkadh - 8 transactions - Total value: AED 14M
- Ready: Business Bay - 124 transactions - Total value: AED 200M
Demographics
Buyers of all ages are showing great interest in off-plan apartments. Most notably, the age group of 36-40 had a 74% increase in sales volume compared to November 2021.
The age group of 56-60 is beginning to show growing trust in off-plan properties, with an increase of over 70% in transactions compared to 2021.
![](https://lh5.googleusercontent.com/DFMg_ssHHtZpaepDOV-cVVnePM748KUCJUaaBrKKFRUke934l3MT8IP7VcurzywJGgoivRMSTZCW3o2L8xBhsGjU7LhP8JSV6jFp63qCg59BNtesz0Nk34Gr7cvI8K4KWH-Do0yxa3XtzDSNixY7dIkemtHLhcmGO7dVTYtt8C4ta5fscIBqQNn0XRGqYg)
Off-plan apartment transactions - Age demographics - DXB Interact
Rental Registrations
Marsa Dubai is the top-performing area for apartment rental transactions, with a total of 271 transactions taking place.
![](https://lh3.googleusercontent.com/BldLhq_HlRhpu4vTAfyqCcrJqABngbselMRVx52K__hgT2vcEdjtSywcKEHa_eSrcTYOiISFUGGFWit5em2C5850bU-tz75j0dMI2PvC25ZPV1vuqayt643yKdbtOkqOjuiPO3k3w1ygohyzqx1cGWrCfhtAZqwFiM4HhV0I1sjD3KUz8zKkE2eXhtY5sw)
Top 10 Performing Areas - Rental Transactions
One-bedroom apartments make up nearly 70% of rental transactions.
Property Sales Volume by Price Range
Properties that sold for up to AED 3M made for 61% of the total sales volume with 6,422 total transactions.
Over 1,000 properties were sold for AED 5M+.
![](https://lh5.googleusercontent.com/kkYVLEf83JKyBnhimuTM5ZUh31MD-OvO5ZMQ1Cp4JPQHg8oXIdYIfLccHe6dQpGX4p6FiX0BssVsy6WhxFSNNhwKeH2JinzLU9TDi2DHXHFOqu-KjL2AFJurgWVHy200r07dT3Cq9Z88sTdm1WCE27ePCYzXED0yu9I2Ydg3qKPRHljWJ--jVJFAV1VfiA)
![](https://lh5.googleusercontent.com/hpNfAFsOH78EpdDhKHLhLDY583aVvXCaH3on0POwYpE8M9P0FDW_gqw8pFd2xpglvMpW6YU1uBlcEG5OYpSbydIlYKHxrOXajVU71ucNNARccBEuCKHd08WT5xlOe5wpPKTzF6D6J_bDmbN24TYYlj2mjkN9pSzyx6kHWqgVduTW8zLOVblmRrRvvu5urQ)
November Property Sales Volume by Price Range (off-plan/ready-made combined, all property types)
For the Love of Luxury
We are witnessing a surge in luxury transactions, with sales values on the rise. The highest transaction value took place at the Club Villas on Palm Jumeirah for AED 145M.
![](https://lh4.googleusercontent.com/EoNq1P13RyRYroiI_8Mmz3PsHHnCfjkLdZLoD8_xfHRvI4WavfV_Qvpw1SjceDBiLtvesoANXP8s8a_DReiimJpgR6ZMcmWzez3rKOgWViqSzylz0SWwcxn3P_SdcPHzy4MocbO2RRFXhcSGA5CdNabjc7TNEbi96BBKO4-2PZTU4FO3AJqP9E-B7CZDvg)
Six Senses Residences - Palm Jumeirah
Top five projects with the most expensive sold apartments:
- Six Senses Residences - 📍Palm Jumeirah - AED 81M
- Dorchester Collection, 📍Business Bay - AED 66M
- One At Palm Jumeirah, 📍Palm Jumeirah - AED 62M
- Royal Atlantis Residences, 📍Palm Jumeirah - AED 58M
- Mr. C Residences,📍Block B1, Jumeirah Second - AED 52M
Top five areas with the most expensive sold villas:
- Club Villas, 📍Palm Jumeirah - AED 145M
- MBR City, 📍MBR District 1 - AED 44M
- Villa Amalfi, 📍Island 2 - AED 28M
- Sur La Mer, 📍La Mer - AED 18M
- Nad Al Sheba Gardens Phase 2, 📍Nad Al Shiba 1st - AED 15M
Key Takeaways
November was the strongest month on record in terms of both sales volume and value. The total sales value reached just under AED 30B.
- Apartment transactions were responsible for the majority of sales. Over 7,800 apartments were sold, up over 71% vs. November 2021, amounting to AED 16.6B.
- The mortgage transaction value has more than doubled that of November 2021. This comes from an increase in ex-pats moving to Dubai, as well as an increased number of luxury transactions.
- Off-plan apartment sales rose by over 56% in Business Bay.
- Over 1,500 plots were sold, adding up to a value of AED 10B.
- We are witnessing a surge in luxury transactions, with sales values on the rise. The most expensive villa sale was at Palm Jumeirah - Club Villas for AED 145M.
For more information on the record-breaking state of Dubai’s property market and trends, have a quick look at our Interactive Reporting Tool.
*Notes and Disclaimers:
- Prepared by Fateh Al-Msaddi&Steven Worlow.
- In this report, “transaction” refers to the actual property sales, which do not include mortgage or gift transactions.
- Off-plan property could be sold by a developer or individual.
- Some villa transactions were registered as plots in The Dubai Land Department, so we modified what we notice to be villas with a high level of accuracy.
- Plot transactions are excluded when it comes to comparing off-plan vs. ready property sales.
- We are not responsible for any investment decision made based on the information in this report.
- Figures have been rounded to the neared tenth for clarity.