The most expensive Dubai real estate properties of 2023 have been revealed. A large flow of foreign investors and high net worth individuals have been, and continue to be attracted to the emirate’s property market, which means ultra-luxurious real estate prices are predicted to rise.

Three of the most expensive properties in the world were sold in 2022 and were situated in the emirate of Dubai. All three of the villas were located in the sought-after community of Palm Jumeirah, which is the preferred area for ultra-rich investors and HNWIs in the emirate. Last year, Palm Jumeirah accounted for 30% of the total volume of real estate transactions in the luxury real estate segment.

Other notable areas of ultra-luxury real estate in Dubai include Emirates Hills and Jumeirah Beach Residence. The neighbourhood of Tilal Al Ghaf was also one of the most in-demand communities for luxury real estate in the emirate.

According to experts, the prices for ultra-luxury property will rise further in 2023. The emirate’s economic growth is also contributing to the success of its real estate, as it presents itself as a safe option for investors.

The most expensive luxury apartments in Dubai, which have been sold in 2023 so far, include a deal for an elite residence in Bulgari Lighthouse, Island 2, for AED 410,000,000 (USD 112,000,000), as well as another transaction for an apartment in the same development for AED 119,000,000 (USD 32,400,000).

These transactions were followed by:

The highly sought-after area of Palm Jumeirah has recorded two deals for luxury villas worth AED 125,000,000 (USD 34,000,000) and AED 183,000,000 (USD 50,000,000) so far this year.

Other areas where luxury villas were sold include Tilal Al Ghaf with a registered deal for AED 90,000,000 (USD 24,500,000) and Emirates Living with transactions for AED 70,000,000 (USD 19,063,000) and AED 45,000,000 (USD 12,255,000).