Realiste, a Dubai-based property specialist utilizing AI technology, has published a report disclosing the ten priciest neighborhoods in Dubai. Surprisingly, Palm Jumeirah did not make the cut. Jumeirah Bay ranked number one on the list with an average apartment price of AED20m ($5.4m), as per the research findings.
Dubai’s Most Expensive Neighbourhoods
- Jumeirah Bay, AED20m
- Al Sufouh Second Part 2, AED15.8m
- Al Sufouh First Part 2, AED15.8m
- Al Sufouh Second Part 1, AED15.m
- Umm Suqeim Second Part1, AED9m
- Arabian Ranches, AED6.6m
- Bluewaters Island, AED6.6m
- Zaabeel First Part 2, AED5.6m
- Al Yufrah 1, AED5.1m
- Wadi Al Safa 3 Part 2, AED5m
Even though Palm Jumeirah is widely acknowledged as one of the priciest areas in Dubai, it failed to make it to the top ten list and landed on the twelfth spot, according to Realiste’s founder and CEO, Alex Galtsev. Galtsev explained that the majority of the top-ranking neighborhoods are situated near waterfronts, green spaces, or main tourist destinations, which significantly boost property demand and ultimately result in higher prices in Dubai.
According to Index, Galtsev remarked that some of these neighborhoods will experience significant price increases within the next two years. As an example, the price of real estate in Arabian Ranches is expected to rise by 12.9% by the conclusion of 2024.
However, some locations in the city will see even more significant increases in price in the following years. For instance, Sobha Hartland will grow by 15.6 percent in a year, according to Realiste’s Index.
Realiste’s team stated that this is one of the fastest-growing regions of Dubai. By 2024, there will be a slew of new residential complexes in the area, including Kensington Waters and Wilton Park Residences.
