At Dh121m, Jumeirah Bay Island Villa is Dubai’s most expensive residential deal this year – Top 5 all sell for Dh100m +
Dubai: A villa on the island of Jumeirah Bay beat the competition from Palm Jumeirah for Dubai’s most expensive residential deal this year, which sold for 121 million dirhams. Another sign that demand is skyrocketing in the high end of the luxury real estate market in Dubai, the top 5 deals each won more than 100 million dirhams each, according to the latest Luxhabitat Sothebys report.
“The enormous growth of the luxury residential sector speaks volumes about the resilience of Dubai’s real estate market in this post-Covid era,” said George Azar, CEO and Chairman. previous quarter with 80 percent of transactions with an average value of 30 million dirhams.
Yes, all the action – at least the big bucks – happens in the villa space. The sales volume increased by 35.92 with an average price of 2.8 million dirhams. The price per square foot also increased by 14.8%. “We have seen an increased number of super-villas over 100 million dirhams traded, including a mansion on Jumeirah Bay Island that traded for 121 million dirhams, a mansion in Palm Jumeirah at Dh 111.25 million and a Dubai Hills Grove mansion at Dh 103 million. ”