Dubai's Luxury Properties Now More Within Reach

If you are planning to buy a luxury property in Dubai, today could be the best time to do so. Once you study the prevailing trends of Dubai properties, you would see that the situation is now favoring buyers.

The number one reason that buyer interest for luxury properties is currently rising because of the persistent decline in prices. Because of this, luxury properties have become more affordable and developers are now less focused on high-end real estate.

According to statistics, the overall luxury property price fell by 6.34 percent from January to July of 2019. The biggest decrease can be seen in places such as Dubai Marina (20%), Palm Jumeirah (19.5%), Emirates Living (16.7%), Jumeirah Beach Residence (12%), and Jumeirah Lake Towers (11.3%).

It is worth noting though that because of the decreasing prices of luxury real estate in Dubai, it has made Dubai a more attractive investment hub for many foreign investors. In fact, Dubai is seen to be a more affordable investment destination compared to other major cities such as New York, Singapore, Paris, and London.

Of course, there are still areas that remain strong in terms of prices and residency in demand. These areas include Downtown Dubai, Palm Jumeirah, and Emirates Hills and other cityscape Dubai areas.

Here’s an interesting data: the number of luxury properties, usually priced at Dh10 million and above, that have been bought in the first half of 2019 has increased by as high as 194 transactions. That’s a huge increase if you consider that there were only 115 similar transactions of the same time period last year.

Overall, there’s an increase of 69 percent of demand, especially in established areas. If you look at Palm Jumeirah, 16 apartments on the Crescent were sold while 24 villas on the Frond. In Downtown Dubai, the Opera District shows the highest buyer interest. Most buyers are looking to buy apartments in Downtown Dubai. One notable project that has seen a robust sale in luxury units is Emaar’s Il Primo Tower in Opera District.

The Mohammed Bin Rashid (MBR) City is also not far behind when it comes to selling luxury properties. MBR City’s District One got 16 deals while Sobha Hartland got a few deals on off-plan villas.

If you are wondering about Jumeirah Golf Estates, its Sienna Lakes villas are also showing a good number of sales in the secondary luxury sales market. There is also an increased in buyer interest for properties located in Dubai Creek Harbour, Volante Tower in Business Bay, Le Reve in Dubai Marina, Bulgari Resort & Residences, and Al Barari villas.

The Dubai real estate market is an interesting subject to discuss. Before you make any investment in Dubai, especially when buying luxury properties for sale, you should get as much expert advice as possible. Thankfully, you can be properly guided when you engage with Rocky Real Estate. With decades of experience, their trained staff have solid knowledge and expertise to help you make the best investments in Dubai. If you are ready to gain more profit from your investment, call Rocky Real Estate today!