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|13 February, 2017

Dubai's Emirates Hills remains top choice for posh home buyers

Investors opting for higher-end properties have started to be active again in the local marketplace

Image used for illustrative purpose. La Quinta, which is the second phase of the Villanova residential master community in Dubailand. Dubai Properties/Handout via Thomson Reuters Zawya

Image used for illustrative purpose. La Quinta, which is the second phase of the Villanova residential master community in Dubailand. Dubai Properties/Handout via Thomson Reuters Zawya

Dubai Properties Group

Monday, Feb 13, 2017

Dubai

Emirates Hills still rules as the place where investors should head to for the costliest properties in Dubai — there is currently one going for Dh129.9 million. The next two spots are taken by homes on the Palm with asking prices of Dh115 and Dh80 million, respectively, based on listings with Luxhabitat.

In fact, Palm addresses dominate the list, with the only outsiders other than Emirates Hills being a penthouse in the Downtown (for Dh28.7 million at the 118 tower) and a villa at Al Barari (for Dh48 million).

Investors opting for higher-end properties have started to be active again in the local marketplace, A statement issued by the Dubai Land Department last month talks about the Burj Khalifa units featuring among the priciest transactions done since the start of the year.

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Of late, developers with high-end off-plan projects have been chasing sales by spreading the payment terms and lowering the upfront cost burden. But unlike last year, they are more ready to come out with new high-end projects, another indication that they are starting to feel confident about prospects all over again.

Staff Report

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