Most expensive Dubai apartment sold for USD 7 million

28.10.2015
Apartment on Palm Jumeirah topped the list of the most expensive Dubai properties sold in the third quarter of the year.

UAE’s popular real estate portal Reidin made the top 10 of the most expensive apartments sold in Dubai in the last three months. First place in the list went to the apartment in The Fairmont Palm Residences on the man-made Palm Jumeirah Island, sold in September at a price of USD 7 million.

However, this apartment has gained the status of the most expensive Dubai property only nominally, due to its total cost, while the apartment in The Address Downtown Hotel (Lake Hotel) in Downtown Dubai, sold for USD 4.68 million in August, was the costliest unit sold on the basis of price paid per square foot in the season. A buyer had paid USD 1700 per each square foot of this apartment. Thus, since February, when a similar apartment was sold in the same residence, the cost of property there has not changed much. Also, another apartment, sold there in the third quarter for USD 3 million, took the fifth place in the top ten of the most expensive Dubai residential properties.

Second and third places in the list went to apartments in the Le Reve Tower in Dubai Marina, sold for USD 5.58 and USD 5.17 million, respectively.

Another luxury housing development, The Residence 9 (T2) in the same central district of Downtown Dubai ranked fourth in the top ten with an apartment sold for USD 4.76 million.

Among other residential complexes comprising the list of the Q3 most expensive Dubai properties, there was also the Dream Palm Residence on the Palm Jumeirah and the Princess Tower in Dubai Marina.

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