Dubai Residential market saw transactions over AED 20.4 billion in 2019 first quarter

Dubai Residential market

Dubai Residential market saw transactions over AED 20.4 billion in 2019 first quarter

Luxhabitat, a Dubai-based real estate consultant, in their latest Property Monitor Report, showed that, within the first quarter of 2019, the overall residential market saw the transactions of over 1737 villas and 6,194 apartments. This volume of transactions was AED 20.4 billion, a 10% increase from the AED 18.5 billion seen in Q4 2018.

This clearly indicates a boost in the Dubai Residential Market, both in terms of volume as well as the number of units sold. In addition to this, the average price per square foot went up by 2.5%, too. And this was majorly seen in two markets: the off-plan and prime residential markets.

 

The Off-Plan Market

The Dubai Harbour area recorded a 28% increase from the previous quarter’s AED 554 million to 2019’s AED 7.4 billion. This meant that there was nearly five times the number of registrations compared to the previous quarter!

In the off-plan villa market, there was a 61% increase in sales volumes, meaning the number of units sold had more than doubled. The apartments, in the meanwhile, recorded a 10% increase in sales volume at AED 8.7 billion.

 

Prime Residential Market

The prime residential market, as defined by Luxhabitat, is the residential market made up of properties lying on the high-end spectrum of Dubai’s residential market. Their analysis revealed this market totalling AED 10.6 billion in Q1 2019, approximately 44% higher than 2018’s last quarter.

The 15 main areas Luxhabitat recognises within this classification are: Al Barari, Arabian Ranches, Business Bay, Downtown Dubai, Dubai Marina, Emirates Hills, Jumeirah, Jumeirah Beach Residence, Jumeirah Golf Estates, Jumeirah Islands, Jumeirah Lakes Towers, The Lakes, Meadows, Mohammed bin Rashid City, Palm Jumeirah & Victory Heights.

Out of these, the top three areas in sales volume were Downtown Dubai with AED 2.3 billion, Mohammed bin Rashid City with AED 2.1 billion, and Business Bay with AED 1.2 billion.

For a better understanding of the best prime residential areas in terms of sales volume, and the top ten residential transactions, we have included two tables with hard data.

Top 5 Prime Residential Areas in Terms of Sales Volume

AreaSales Volume Values (in AED)
Downtown Dubai2,387,722,26
MBR City2,150,788,465
Business Bay1,233,363,459
Palm Jumeirah1,135,038,323
Dubai Marina802,660,065

(Source: Luxhabitat x Property Monitor Analysis, April 2019)

Top 10 Residential Transactions

Development(AED) PriceAverage BUA(Built Up Area)
Palm Jumeirah Villa-Frond J51,000,0009,000
Umm Suquiem Villa50,000,000
II Primo Apartment43,552,88811,407
II Primo Apartment42,947,88811,407
II Primo Apartment42,871,88811,407
Bulgari Resort and Residences41,100,0008,984
II Primo Apartment40,868,27511,407
Emirates Hills Villa-Sector S35,000,00029,223
Emirates Hills Villa-Sector S35,000,00028,223
Dubai Hills View Villa30,318,888

(Source: Luxhabitat x Property Monitor Analysis, April 2019)

Making sound investments based on this data is very important. Luckily, we have the perfect consultants for you! With Golden Bricks’ years of experience, you are in the safest, most reliable hands. With our help, you make the best investment choices, yielding the highest returns from the beautifully lucrative Dubai Residential Market.

To Know More Dubai Residential Market, Call Now: +91-9015-330-330 or Email Now: contact@goldenbricksworldwide.com

Share this post