Looking for a luxury home in Dubai?
There is no doubt that Dubai has long been the hub of investment for foreign residents. Many think that one of the places in the city is the best place to live. A recent study has now weighed on the same. The statistics revealed that although the sale of a villa of 90 million dirhams in the district one of the city of Mohammed Bin Rashid is the most expensive residential purchase of 2019, an analysis of real estate transactions valued at more than 10 millions of dirhams shows that the old and established districts of Dubai still dominate sales in the segment of luxury homes.
In the same vein, real estate data shows that long-time favourites in downtown Dubai and Palm Jumeirah are leading in terms of the volume of apartment transactions valued above AED 10 million from January to October. The project under construction Il Primo d’Emaar in the Opera district represented 18 of the 34 deluxe apartment transactions in downtown Dubai. Data showed that in Palm Jumeirah, the Royal Atlantis Resort & Residences accounted for 13 of 31 luxury apartment transactions in the first 10 months of the year. The Palm Jumeirah Alef residences also accounted for eight apartment transactions in excess of 10 million dirhams.
An isolated penthouse that sold for AED 74 million in The One at Palm Jumeirah was the second most expensive real estate transaction this year. Business Bay, Jumeirah, Jumeirah Beach Residence and Dubai Creek Harbor have also caught the attention of investors. In terms of sales of luxury villas, established and new communities have also performed well. In the future, the top 5 communities for the highest villa sales volume above AED 10 million include Dubai Hills Estate, Palm Jumeirah, MBR City, Emirates Hills and Jumeirah Golf Estates. The luxury projects on the Palm that attracted the majority of buyers were Signature Villas, Jumeirah Zabeel Saray, XXII Carat, Kingdom of Sheba and Emerald Palace Kempinski Hotel. The former is gold with regard to Umm Suqeim, Al Barari and Polo Homes in Arabian ranches, which remain among the favourites among people looking for luxury homes.