Three locations in Dubai accounted for nearly half of total luxury unit sales in the prime property market segment last year.
Such records might probably have been achieved due to by the average price per square foot in the luxury residential market, which was down by 3.72 per cent since 2018. “As for now, the average price per square foot in the overall Dubai luxury villas premium market is AED1,348 per square foot, and is AED1,736 for premium apartments,” the report said.
Consequently, lower prices generated greater sales volumes — about AED42.3 billion in 2019 compared with AED34.4 billion in 2018.
Where else in Dubai luxury sales make the best
As per latest data, apartments on the
Overall, more than 1,454 villas and 16,522 apartments were sold in the premium property residential market in Dubai last year.
In the secondary market only a slight drop down to AED19.3 billion from Dh19.5 billion was recorded for overall ready residential units sales last year. Among the most wanted areas for secondary transactions there also were MBR City (AED3.8 billion premium unit sales), Downtown Dubai (AED3.1 billion deals) and the Palm Jumeirah (AED2.7 billion sales).
Off-plan units in greatest demand
As for prime
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