A 9,000 sq. foot villa on the Palm Jumeirah was the costliest unit bought in Dubai within the first-quarter of 2019, in accordance with new analysis.
Excessive-end property brokerage agency Luxhabitat revealed that the unique property went for Dh51 million (£11 million).
The second costliest villa, additionally at round 9,000 sq. ft, was bought for Dh50 million in Umm Suqeim.
World actual property consultancy CBRE stated in its newest report that common prime property worth in Dubai is $548,338, extra economical than Hong Kong, London, New York, Singapore, Paris and Sydney amongst main cities.
The prime residential market in quarter certainly one of 2019 totalled Dh10.6 billion, in accordance with Luxhabitat, which is roughly 44 per cent larger than the earlier quarter.
The evaluation defines the prime residential market as a residential market composed of properties that lie on the high-end spectrum of the Dubai residential market.