Dubai: Dubai’s property market recorded three Dh100 million deals in the first six months of 2021, with all three being on the Palm. The priciest deal was a whopping Dh119.5 million for a 12,138 square foot home - forming part of the XXII Carat’s Club Villas - on the island, while second-placed was the Dh111.25 million scored for a 11,950 square foot unit on Frond N.
It was a good first-half for XXII Carat, with two more placements in the Top 5, the third-placed Dh105 million and Dh89.18 million for the fourth costliest deal, according to a new update from Luxhabitat Sotheby’s, the property consultancy.
Revealed: 10 costliest properties sold in Dubai in 2021
khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.
All roads lead to labels
labelsandlabeling.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from labelsandlabeling.com Daily Mail and Mail on Sunday newspapers.
Dubai: For the super-rich wanting to pick up another home in Dubai, the Palm remains the first choice. In fact, six of the Top 10 property deals in Dubai during the first three months of 2021 feature homes on the Palm, with the costliest being a Dh111,25 million one.
In value terms, these six Palm deals totalled Dh339.75 million of the Top 10’s combined Dh546.22 million. Indeed, the Palm has recorded a steady increase in Dh50 million plus deals… as well as homes being rented out for Dh1 million and over annually, according to date from Luxhabitat Sotheby’s International Realty.
In the year-to-date, there is a clear indication of increased activity by wealthy buyers, based locally and outside. More deals could have happened if not for travel and other restrictions that have come in the way of activity because of the COVID-19 situation in some of the markets.