UAE's Dubai ranks fourth in luxury residential sales in 2022

Luxury home sales that exceeded $10 million each in Dubai amounted to 219 in 2022, only ranking behind New York (244), Los Angeles (225) and London (223). 
Boats are anchored in the Dubai Creek surrounded by high-rise buildings in the Gult emirate, on February 18, 2023. - Home to towering skyscrapers and ultra-luxury villas, Dubai saw record real estate transactions in 2022, largely due to an influx of wealthy investors, especially from Russia. (Photo by KARIM SAHIB/AFP via Getty Images)
Boats are anchored in Dubai Creek surrounded by high-rise buildings in the Gulf emirate on Feb. 18, 2023. - KARIM SAHIB/AFP via Getty Images
color corrected profile
Salim A. Essaid
@salim_a_essaid

Dubai’s prime residential market became the fourth most active in the world in 2022, reaching this position for the first time ever, according to a global real estate report released Wednesday. 

There were 219 luxury Dubai home sales that exceeded $10 million last year, ranking behind New York City in the top spot with 244 sales, Los Angeles with 225 and London with 223, according to global property consultant Knight Frank’s 2023 Wealth Report. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.

Videos

See more