DUBAI’S PRIME RESIDENTIAL MARKET
Defining a prime residential area in most world cities involves identifying the city centre, as the two are often co-located.
24 May 2023
In Dubai’s case, however, with five distinct city centres, identifying prime neighbourhoods needs a more scientific basis.
AND THEN, THERE WERE THREE
We have analysed over 600,000 residential transactions over the last 23 years to identify the neighbourhoods or submarkets in which over 10% of deals have taken place at over US$ 3 million (AED 10 million).
This threshold of transactions needs to have been sustained for three consecutive years for an area to be classed as prime.
By examining the market and following this approach, the neighbourhoods that qualify as prime are the Palm Jumeirah, Emirates Hills and Jumeirah Bay Island.
Below we take a closer look at the performance of these three submarkets individually and collectively as Dubai’s 'prime' neighbourhoods.
