LUXHABITAT, Dubai's exclusive luxury real estate company has conducted an analysis on villas above AED 5 million sold in 2014. This analysis reveals that over 60% of the villas sold last year were from Arabian Ranches, Palm Jumeirah and Emirates Hills.
HIGHLIGHTS:
1) In 2014, Arabian Ranches was the high-end residential villa development with the highest number of villas sold above AED 5 million.
2) In terms of value of transactions, Palm Jumeirah sold the most with AED 1.35 billion.
3) The average price per square feet at the Palm was more than twice than in Arabian Ranches.
4) The area with the highest average transaction per villa was Emirates Hills at AED 29 million. Emirates Hills also offered the highest average built-up area (BUA) at 12,763 square feet.
5) The most expensive villa sold last year in Dubai was a 7,613 square feet villa in the Palm Jumeirah at AED 58.5 million.
In 2014, the number of villas sold above AED 5 million exceeded 420 units, of which over 60% of these villas were in 3 established villa communities: Arabian Ranches, Palm Jumeirah and Emirates Hills. While Palm Jumeirah is the only high-end villa development that allows beachfront living, both Arabian Ranches and Emirates Hills on the other hand are viewed as golf communities.
The highest total value transacted for villas was in Palm Jumeirah, reporting AED 1.3 billion, with an average price of AED 2,975 per square feet sold. The Palm also reported the second highest number of units sold last year for luxury properties above AED 5 million with 74 villas sold in 2014.
In terms of total value transacted, Emirates Hills accounted for less than half of the value of the villa transactions in Palm Jumeirah.
Press Release 2015
