Dubai secures the leading position in the first half of 2023 for experiencing the most significant increases in the value of luxury homes.

In Dubai, 1,500 residential real estate transactions were finalized at prices higher than Dh4,000 per square foot, a figure that is 67% higher than in the same period for 2022.

With launch prices of over Dh7.5 million, Emaar’s latest launch of The Oasis (neighboring Arabian pastures) likely witness a flurry of fresh sales launches in the coming weeks. The ‘islands’ within the Tilal Al Ghaf will continue to gain attention from Majid Al Futtaim, and Dubai Hills will continue to be a major attraction. (Plus, there remains the Palm Jumeirah and Jumeira Bay, with Palm Jebel Ali and Dubai Islands likely to draw in heightened investor interest.) “The city’s real estate market offers the lucrative and unique opportunity of being an ideal investment destination,” said Swapnil Pillai, Associate Director, Middle East Research at Savills.

Population growth, a thriving economy with new business prospects, the possibility of property value increases, and strong rental yields are all attractions. The same factors that made Dubai a top choice for foreign investors looking to invest in real estate still apply. In some regions, the rate of value increases has stabilized, but not before they saw gains of 25–35% over the previous three years.