Dubai’s luxury real estate market recorded Dhs3.72 billion in off-plan property sales above Dhs5 million in June, as investors continued to show interest in high-value homes, according to a market analysis by Keturah luxury brand.
The data showed that villa sales accounted for Dhs1.61 billion through 141 off-plan transactions, while apartment sales reached Dhs2.12 billion from 166 deals, with an average value of Dhs12.1 million per home.
Villa transactions were strongest in the Dhs5 million to Dhs10 million category, which recorded 99 deals worth Dhs639.2 million. The Dhs10 million to Dhs20 million segment followed with 30 transactions valued at Dhs415.6 million.
Apartment sales were also concentrated in the Dhs5 million to Dhs10 million range, with 111 transactions worth Dhs722.3 million. This was followed by 33 deals worth Dhs475.7 million in the Dhs10 million to Dhs20 million category.
Ready homes
Developers also recorded Dhs1.01 billion in sales of 58 ready properties priced above Dhs5 million during June, with each property averaging Dhs17.4 million.
“The premium end of the property market keeps proving its durability,” said Talal M. Al Gaddah, CEO and Founder of the Keturah luxury brand. “Investors are continuing to back Dubai’s long-term trajectory as one of the world’s leading real estate destinations.”
High-value deals
The luxury segment also saw several high-value transactions during the month. Seven villa sales in the Dhs20 million to Dhs50 million range totalled Dhs207.9 million, while five deals in the Dhs50 million to Dhs100 million category reached Dhs344.9 million.
Apartment sales included 18 transactions worth Dhs521.5 million in the Dhs20 million to Dhs50 million range and three deals worth Dhs197 million in the Dhs50 million to Dhs100 million category. A penthouse in Business Bay was sold for Dhs200 million.
Top locations
Dubai Islands recorded the highest number of off-plan transactions above Dhs5 million in June with 48 sales, followed by Dubai South with 39 transactions and Palm Jumeirah with 22.
The analysis was based on data from DXBinteract and covered luxury property transactions in Dubai.
tanvir@dubainewsweek.com
