Every nook and corner of Dubai screams luxury. But, when it comes to residences, some areas truly take a notch higher and you cannot disagree. So, which are the most expensive neighbourhoods in Dubai? A report by Realiste, an AI-powered property specialist has revealed Dubai’s highest-priced localities. Want to know if your neighbourhood made it to the list? Read on.
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According to the research by Realiste, Dubai’s Jumeirah Bay is the most expensive location. The average apartment price standing at this area is AED 20 million ($5.4 million). Realiste’s flagship product, the Index, was used to rank these areas. Al Sufouh Second Part 2 bagged the second spot with an average apartment price at AED 15,800,000. The other areas that followed suit include Al Sufouh, Arabian Ranches, Bluewaters, Zabeel, Wadi Al Safa and others. Below is the complete list.
10 most expensive neighbourhoods in dubai
Surprisingly, Palm Jumeirah, one of Dubai’s most expensive neighbourhoods has been ranked on the 12th spot. Most of the areas that made it to the list are close to a waterfront, green spaces, or major tourist attractions. According to Alex Galtsev, Founder and CEO of Realiste, these are key factors that influence demand and prices in Dubai’s property market.
The report also reveals that some of the locations, such as Arabian Ranches, will experience a significant price increase of 12.9% by the end of 2024. Similarly, Sobha Hartland’s price is expected to rise by 15.6% in a year. With the introduction of several new residential complexes such as Kensington Waters and Wilton Park Residences by 2024, this neighborhood is known as one of the fastest-developing localities in Dubai.
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