Очистить всё Search by map
Property type
No. of bedrooms
Area
Show offers

Which Dubai locations attract the biggest interest of the luxury property byers?

11.02.2020
MBR City leads the way for both off-plan and secondary real estate transactions.

Three locations in Dubai accounted for nearly half of total luxury unit sales in the prime property market segment last year.

These included MBR City (Mohammed Bin Rashid City) with AED8 billion of luxury sales, central Downtown Dubai with AED7.9 billion of registered prime transactions, and Dubai Creek Harbour with AED4.2 billion of total premium sales cost. In general, luxury property sales amounted for AED42.3 billion last year, according to luxury real estate consultancy Luxhabitat.

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 Bluewaters Island also made it up into the Top 10 of the most sought after luxury residences in Dubai in 2019. Jumeirah Golf Estates and the Palm Jumeirah also recorded higher sales volumes since last year.

Overall, more than 1,454 villas and 16,522 apartments were sold in the premium property residential market in Dubai last year.

Secondary sales

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 off-plan units under construction, experts reported that sales in this segment last year "almost doubled" in transaction volumes, having whooped from AED14.7 billion in 2018 to over AED20 billion, which amounted for a 42 per cent increase. An increase in number of luxury off-plan units transacted in Dubai last year and an average price per such unit also rocketed by 38 per cent year-on-year amounting to AED1,761 per square foot. The average price for a prime off-plan villa increase to AED4.1 million and to AED2.5 million for an apartment.

To always stay up to date with the latest analytics data and real estate prices in Dubai, subscribe to our newsletter using the form below. And in order to sell, lease or buy/ rent housing or commercial properties in Dubai, contact IMEX Real Estate. Our contacts:

Tel. in Dubai, UAE: +971 (50) 2528188 (Whatsapp, Viber, Telegram)

Toll Free Dubai: 800-IMEX (800-4639)

IMEX REAL ESTATE BROKER LLC, UAE

Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE

Email: pm@IMEXre.com

Subscribe to our news

Latest Availability
Latest property news
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required

SOGA1 SOGA2
Request a call back

SOGA1 SOGA2
Call management

SOGA1 SOGA2
Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management