The Dubai luxury real estate market has continued to attract consistent investment in June, with developers generating sales transactions worth AED 3.72bn for off-plan homes priced above AED 5m.
A market analysis from the Keturah luxury brand reveals that villa buyers accounted for AED 1.61bn across 141 off-plan transactions last month. Apartment sales reached AED 2.12bn from 166 deals – an average of AED 12.1m per home.The strongest villa activity came in the AED 5m to 10m bracket, where 99 transactions generated AED 639.2m in developer off-plan sales. A further 30 deals worth AED 415.6m recorded in the AED 10m to 20m range.
Data from DXBinteract shows that apartment sales were concentrated in the AED 5m to 10m bracket, with 111 transactions worth AED 722.3m, followed by 33 deals worth AED 475.7m in the AED 10m to 20m range. In addition to the 307 off-plan transactions last month, developers recorded another AED 1.01bn in sales of 58 ready properties above AED 5m at an average of AED 17.4m each.
“The premium end of the property market keeps proving its durability. Investors are continuing to back Dubai’s long-term trajectory as one of the world’s leading real estate destinations.”
Talal M. Al Gaddah, CEO and Founder, The Keturah Luxury Brand
The company currently has two luxury communities under development in Dubai – Keturah Reserve – the AED 5.7bn bio-living community in Mohammed Bin Rashid City’s District 7, and the Ritz-Carlton Residences at Keturah Resort, on the shores of Dubai Creek, adjacent to the Ras Al Khor Wildlife Sanctuary.
Both developments sit within the top tier of the market, which last month saw seven villa sales in the AED 20m to 50m range for a total of AED 207.9m, and five deals in the AED 50m to 100m range worth AED 344.9m. Meanwhile, 18 apartment sales in the AED 20m to 50m range amounted to AED 521.5m and three deals in the AED 50m to 100m sector totalled AED 197m, while a penthouse in Business Bay sold for AED 200m.
Dubai Islands was the area recording the highest number of off-plan transactions above AED 5m in June with 48 sales, followed by Dubai South with 39, and Palm Jumeirah with 22.
