A recent report by a digital real estate business, Property Finder, has revealed that Dubai’s real estate sector reached the record-breaking mark of $65 billion, with more than 88,000 transactions, in 2022.
In its report, Zeitgeist 2022, Property Finder noted that Dubai recorded sales of 88,028 until November this year, which is 60,258 more than last year.
Moreover, this skyrocketing growth of Dubai’s property sector is nearly 61 percent higher than in 2021.
It is worth noting here that the growth is mostly driven by off-plan deals, which increased by 86 percent when compared to 2021. Off-plan property refers to structures that are not yet completed.
Speaking about the booming real estate, the Country Manager at Property Finder, Scott Bond, stated that the turbulent market in 2022 influenced consumer behavior.
He further added that the real estate market demonstrated outstanding performance owing to growing demand, and the launch of different events and initiatives like the FIFA World Cup, the golden visa, and the UAE government’s efforts to adopt a digitally powered economy.
According to him, the aforementioned factors stimulated demand for the off-plan market.
Below is the table showing the most-searched areas for apartments, villas, and townhouses in Dubai:
| Sr. | Most-Searched Areas for Apartments | Most-Searched Areas for Villas and Townhouses |
| 1. | Palm Jumeirah | Dubai Hills Estate |
| 2. | Downtown Dubai | Palm Jumeirah |
| 3. | Jumeirah Village Circle | Arabian Ranches |
| 4. | Jumeirah Beach Residences (JBR) | Arabian Ranches 2 |
| 5. | Jumeirah Lakes Towers. | DAMAC Hills (Akoya by DAMAC) |
| 6. | – | Akoya |
| 7. | – | Mohamed Bin Rashid |
| 8. | – | The Springs |
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