Dubai's real estate sector has seen exponential growth on the back of foreign investment and an increasing number of residents switching from renting to buying. According to the latest data released by the Dubai Land Department, the emirate recorded 76,119 real estate transactions with a total value of Dh283 billion in the first half of 2023.

Al Barsha South Fourth, Dubai Marina and Business Bay recorded the highest number of transactions. Dubai Marina, Wadi Al Safa 3 and The Palm Jumeirah recorded the highest transaction value.

Here are the top 10 areas in Dubai with the highest transaction volumes between January and June.

Dubai Marina topped the list with more than Dh24.96 billion in transactions. The Marina is an affluent neighbourhood offering residents world-class facilities and a wide range of shopping options.

In the first half of 2023, Wadi Al Safa 3 district came second with Dh20.99 billion in property transactions. The area consists of residential towers and villas and is easily accessible from Dubai's main roads.

Palm Jumeirah, home to some of the richest people in the UAE and the world, saw Dh19.43 billion in transactions. Commonly known as the 'Billionaire's Quarter', the Frond G area of Palm Jumeirah is one of the most expensive areas in the entire UAE. It has more iconic villas than the entire Palm Jumeirah combined.

Dh14.02 billion was traded in Jebel Ali's first industrial zone. Following the launch of Jebel Ali Palm, the area has become increasingly popular. The area is also set to become one of the emirate's most popular destinations in the coming years.

With a real estate turnover of Dh13.3 billion, Business Bay is one of the most popular locations for offices and residences. Located in the heart of the city and adjacent to the city centre, Business Bay has seen the launch of some of Dubai's most prestigious projects, such as Bugatti by Binghatti Residences, which has seen penthouse flats sell for as much as Dh750 million.

Al Khairan First recorded property transactions worth Dh10.81 billion. The area offers residential flats and villas with a range of amenities and facilities to give residents a cosmopolitan feel.

The Hadaeq Mohammed bin Rashid district recorded Dh10.27bn in transactions between January and June 2023. With 'garden living' as its core concept, the development is located in the heart of the Nad Al Sheba area.

Jebel Ali First, one of the most active areas for property transactions, ranked ninth with Dh9.64 billion in transactions. It is a soon-to-be-built neighbourhood offering a mix of residential and commercial developments.

The mixed-use development El Merkadh witnessed property transactions worth Dh9.41 billion in the first half of 2023.