Elite addresses in Dubai add a row of zeros to the asking price

03.12.2017

Premium elite apartments in well-developed landmark projects are 150 times more expensive than affordable units in the same area. Read more to find out where and for how much one can expect to buy the most expensive Dubai apartments.

The median asking prices in the most demanded premium buildings across Dubai are around 150 per cent more than average in the area, according to a new report.

In some communities, with at least half a dozen luxury real estate projects under construction, units in the most popular premium towers cost up to 150 per cent more than the median home prices in the same area.

Comparing median prices for luxury real estate units to the overall median prices for the area revealed that some Dubai properties cost nearly three times more for the best address.

Dubai Marina is by far the most popular community in Dubai. A median price for residential properties here is about AED1,570 per sq ft, according to data through the end of October 2017. But such towers as Le Reve or Silverene can be valued a whopping 150 per cent higher than the area’s median: asking up to AED 4,000 per sq ft.

The situation is very much the same in Downtown Dubai, the third most popular Dubai community by search volume. Those wishing to buy an apartment in the world’s tallest tower Burj Khalifa should be prepared to pay an epic premium.

The median asking price in the Burj Khalifa is between AED 3,000 and AED 4,000 per sq ft, while the average price per square foot in the neighboring area of Downtown Dubai is nearly half that, at AED2,132.

The only Dubai community tending to break this rule is Jumeirah Village Circle. Its average asking price for apartments is now about AED925.

The most demanded luxury address in the area, according to search data, is Milano by Giovanni Boutique Suites. But still, one can afford to buy a property here for as low as AED1,000 per sq ft, which falls close to the area’s overall median.

Real estate experts say luxury property buyers will have more choice of the premium homes to buy in the coming years, as Bluewaters Island, Bvlgari, CityWalk, Dubai Creek Harbour, and Dubai Hills Estate developments reach completion.

And our clients at IMEX Real Estate already have this opportunity. We offer unique off-plan properties on Bluewaters Island with a view of the world’s largest Ferris wheel Ain Dubai, as well as luxurious apartment at Milano by Giovanni Boutique Suites, Bvlgari and in close proximity to Dubai’s most visited promenade, the CityWalk. All units under construction are sold with extremely luring payment plans availing everyone wishing to live ‘la dolce vita’ to follow the dream.

For more details kindly contact Oleg LAVRIK (BRN 5201) on:

+971 502528188 (Viber, WhatsApp, Telegram, IMO)

Email: oleg@imexre.com

Skype: resident69

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