Among the various things that make Dubai one of the most exciting places to explore is its real estate landscape. The sector has witnessed an intriguing trajectory of growth (~15 % between 2012-2014) to a slump in the market in subsequent years, before stabilizing in the last couple of years.
Irrespective of these market fluctuations, living in Dubai is synonymous with a lavish lifestyle and brilliant properties. If you’re looking to buy/rent a property in Dubai, that suits your lifestyle perfectly, check out some of the most expensive areas of Dubai here.
Boasting a stunning view of the Persian Gulf and an equally breathtaking albeit unique design, the Palm Jumeirah is one of the top choices for people looking for an ultra-luxurious and glamorous lifestyle. The most expensive property sold in Dubai in the second quarter of 2019 for a whopping Dhs 74 million is an apartment at the Palm Jumeirah.
Luxhabitat, a high-end property brokerage firm, shows that overall property prices fell significantly ( 6.34 per cent) at the beginning of 2019, with Palm Jumeirah seeing a sharp slump of almost 20 per cent, followed by Emirates Living at 16.7 per cent, and JLT at 11.3 per cent, the demand isn’t going to fall because of affordability and unfavourable market conditions for tenants and investors.
Latest report of CBRE, a global real estate consultancy, also reveal that Dubai is more economical when compared to NY, London, Hong Kong, Paris, and Sydney, with an average of US$ 548,338 for prime property in Dubai.
Inspired by the renowned Beverly Hills in LA, the Emirates Hills is home to some of the most beautiful yet exclusive properties of Dubai. Housing the ultra-rich expats from various parts of the world, Emirates Hills is situated amidst gorgeous surroundings, signifying ultimate class and luxury. As per Luxhabitat, Emirates Hills villa is the second most expensive area in Dubai, costing Dh 64 million to buyers.
Expert analysis of the Dubai residential market in the first half of 2019, in fact, showed an impressive transaction of more than 1700 villas and 6000 apartments with a total volume of approximately Dh 20.4 billion.
Defining luxury and glamour at its best, II Primo boasts massive apartments averaging a whopping 5,500 square feet. The property has unique amenities, including a movie theatre, lounge, gym, a games room, a library, and a spa. Located strategically on the north side of the Dubai Opera, it also offers stunning views of the Burj Khalifa and The Dubai Fountain.
Sold as the third most expensive area in Dubai in the second quarter of 2019, II Primo apartments (11,407 sq ft) in Downtown Dubai went for Dh 43.5 million, Dh 42.9 million, and Dh 42.8 million respectively.
Whether you are a buyer, an investor, or simply someone looking for a great property to call home, there is no better destination than these handpicked areas of the golden city – Dubai.