Q2 most expensive Dubai housing transactions revealed

10.08.2016
AED 15.6 million Armani Residences in Burj Khalifa topped the list.

Dubai elite residences are still snapped up off the shelf like hotcakes. And this is not surprising, for with almost the lowest per square foot cost for elite housing, compared with other big cities in Europe and Asia, investment and rental yields in Dubai are one of the world's highest.

Reidin analytical portal, tracking the main processes in the real estate market of the emirate, has published its latest data report on the most expensive housing sale deals conducted in Dubai in Q2. The list was headed by a unit in Armani Residences situated in the world’s highest tower of Burj Khalifa, sold for AED 15.6 million (USD 4.24 mln) in May. Per square foot market price in this transaction amounted to AED 7181 (USD 1953) — a record for the last 18 months. For comparison, the same record last year was registered at AED 6249 (USD 1700) per square foot mark for an apartment in The Address Downtown Hotel.

The second and the third places in Top-10 biggest deals of the second quarter 2016 were taken by apartments sold for AED 13.50 million (USD 3.67 mln) and AED 13 million (USD 3.54 mn) in the Le Reve tower in Dubai Marina, and the fourth place in the list went to Tiara Residences & Anantara Hotel Resort & Spa on the man-made island of Palm Jumeirah with the priciest apartment in the complex sold for AED 12.70 million. A little less sum of money — AED 12.54 million a buyer paid for the apartment with a seaview in the Shoreline Apartment on the Palm Jumeirah.

Another comfortable residential community, Kempinski Palm Jumeirah took the seventh rate in the ranking. The most expensive residence sold here in the Q2 costed AED 9.975 million, while IMEX Real Estate can offer you a two-bedroom apartment in the same complex for just AED 1,18 million. A little pricier apartment was sold in one of the Dubai Marina Towers - Al Mass Tower – for AED 10.20 million.

And finally, the last three positions in the Q2 Top 10 most expensive Dubai’s housing transactions were occupied by units in Business Bay and Culture Village. In Business Bay, Dubai Land Department’s registered the deal for AED 9.85 million in one of the Executive Towers, while the two other major transactions — for AED 9.50 million and AED 8.50 million — were recorded in Palazzo Versace and D1 in Culture Village.

More apartments, studios and penthouses for sale on the Palm Jumeirah island, as well as in Business Bay and Dubai Marina you can always find among IMEX Real Estate offers. You can make sure that the price range for our units is quite wide by just checking up the list of our latest offers. See for yourself, and find the most suitable option for you and your family in Dubai.

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