The Jumeirah Bay Island has seen a lot of activity in the fourth quarter of 2022. It's important to take a look back and reflect on the market trends and performance of this vibrant community. In this report, you will have a deep look at the Jumeirah Bay Island’s market performance in Q4 2022.
The Jumeirah Bay Island Community continues to thrive, with 20 total transactions in Q4 2022 and a total worth of AED 1.07 billion. In comparison to Q3 2022, there was a decrease in total transactions (25) but an increase in total worth (AED 1.12 billion). When looking at Q4 2022 compared to Q4 2021, the total transactions remained relatively unchanged (22) but there was a significant increase in total worth (AED 726.63 million). The average price per square foot in Jumeirah Bay also saw an increase in Q4 2022, with a rate of 7,123 AED. This represents a 12% increase compared to Q3 2022 (6,350 AED) and a 37% increase compared to Q4 2021 (5,208 AED). The sub-communities within Jumeirah Bay Island also performed well in Q4 2022, with the Bvlgari Residences seeing 8 total transactions, Villa Amalfi with 6, and Jumeirah Bay with 6.
The most expensive property sold in Jumeirah Bay Island during Q4 2022 was an apartment in the Bulgari Lighthouse, with a sale price of AED 133,150,000.
One of the key takeaways from the report is the continued growth of the community. In Q4 2022, Jumeirah Bay Island saw a steady increase in property values and a thriving real estate market. This growth can be attributed to a number of factors, including the area's popularity among buyers and investors, as well as its private location and proximity to Dubai’s key hotspots.
Also, the community hosted a number of events and activities that brought residents together and provided opportunities for socialization and networking. Along with the Bulgari Resort and Residences, Jumeirah Bay Island is also home to the Bulgari Marina & Yacht Club which was one of the key reasons for the island’s performance. From holiday celebrations to community-wide events, there was something for everyone in Jumeirah Bay Island during this time period.
Overall, the Jumeirah Bay Island Market Report Q4 2022 highlights the continued growth and success of this vibrant & exclusive community. With steady increases in property values, a thriving real estate market, and a rich social scene, Jumeirah Bay Island remains a top destination for buyers and investors around the globe. For more in-depth information, download the full report.
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