The Dubai luxury housing market – which includes any property above $2.7 million (AED10m) – registered 194 transactions in H1 2019, up from 115 transactions for the same period last year.
Prices in the luxury real estate market declined particularly over the last year and luxury houses in Dubai are becoming more attractive for high net worth individuals.
Communities with the highest number of luxury properties sold in H1 2019:
1-Palm Jumeirah 55 properties sold
2-Dubai Hills Estate 29 properties sold
3-Downtown Dubai 28 properties sold
4-Mohammed Bin Rashid City 22 properties sold
5-Emirates Hills 17 properties sold
6-Jumeirah Golf Estates 12 properties sold
There were 65 luxury apartments sold in H1 2019, 78 ready prime villas and 51 off-plan luxury villas.
16 luxury apartments in palm jumeirah were sold and villas on the Frond registered 24 sold properties . In Downtown Dubai penthouses in Il Primo tower , Opera District has seen hefty sales in the luxury segment.
Meanwhile in MBR City, the villas and mansions in District One witnessed healthy sales 16 properties sold on the secondary market while Sobha Hartland accounted for a few off-plan villa sales.
The most expensive property transaction in Dubai so far in 2019.is an off-plan transaction registered for a penthouse in Omniyat’s One Palm project that sold for AED 74 million in May.
Dubai prime properties are most affordable comparing with other prime cities in the world, check what a 1 million dollars buys in luxury property around the world.