Rise of Dubai Luxury Property – Hotspot Investment Opportunity for European and GCC Residentials
- Written by Susan John
Dubai property is always in demand by the residents and for visitors also. The booming economy, prime location and as a business hub, buyers know their property value will appreciate in future. The price of Dubai property is quite high and buyers are paying high amount to receive the luxury property of Dubai.
According to the luxhabitat property brokerage, the transaction volume of property (residential) in the year 2018 was round Dh3.4 billion. Apartment sale among this transaction was 70% with Dubai marina accounted Dh595 million, Downtown Dubai (Dh290 million and Palm Jumeirah (Dh378 million).
The first quarter of 2018, Dubai water canal transaction was around Dh36 million and the walk was worth Dh15.6 million.
The villas are always in demand and around Dh 1 billion transactions recorded for the high-class villas in 2018 first quarter. The 43% of the transaction happened in the areas like emirates hills, meadows, springs and the lakes. The most expensive transaction was done on Palm Jumeirah which was around Dh67 million for a villa of 7,924 square feet.
Since 2017, the residential market of Dubai is getting soft but at a slow rate. The sales prices have declined 7% as compared to 2015, the property prices in the prime location of Dubai residential dropped to 4% in 2017 as compared to 2015.
According to market experts, the demand for Dubai luxury property is a more than the supply of the property.
According to Morris, the investors demand in the high end of Dubai areas will be high in future as investors are seeking long-term benefits from the investment in the prime location of Dubai.
There are many off-plan projects going on in Dubai downtown, Palm Jumeirah, and Dubai Marina and as per the industry expert’s sale of the off-plan property is more than the ready property. Dubai downtown off plan property showed 3 times more than ready property, palm Jumeirah off plan is one-third of ready property and Dubai marina off plan property is 40%, discover the best Dubai Marina Apartments deals. The ready villas price from Dh 4m to Dh6m recorded 9% increase in 2018 as compared to the year 2017.
According to the research manager to illustrating hider tuaima, we must tell the world about the selling of our off-plan property located in Dubai downtown and Dubai land villas.
The Vida residences located in Dubai Marina, near to yacht club Dubai marina showed amazing off-plan development in the whole area.
We have seen that the Dubai property prices have come down, but the sale is there and there are not huge losses. The experts have recorded the marginal decline whilst capital value from the last two year. According to tuaima, Dubai downtown is reaching its 2014 peak value, with a monthly growth rate of 5.2% and quarterly capital value at 4.6%.
The high-end investors are really interested in the prime locations of Dubai such as Emirates Hills, the palm, and the downtown Dubai.
According to the manager director of LuxuryProperty.com Jason Hayes, the Europe and GCC counties investors are quite interested in Dubai property. The main reason behind the interest in the UK, Europe, and UD geopolitical condition. We have seen that people are really interested in off plan luxury property and at the same time there is demand for ready secondary property of Dubai.
As per knight frank’s Morris, the Palm Jumeirah is in great demand by the investors because they can see the huge capital gains in terms of location, property high-class quality and well design. Moreover the property which is close to the high way, metro stations and nearby to entertainment and retail areas are also in huge demand.
