Luxury Off-Plan Homes Bring AED3.72 Billion June Sales
The Dubai luxury real estate market continued to attract a steady flow of investment in June, with developers generating sales transactions worth AED3.72 billion for off-plan homes priced above AED5 million.
A market analysis from the Keturah luxury brand today reveals that villa buyers accounted for AED1.61 billion across 141 off-plan transactions last month, while apartment sales reached AED2.12 billion from 166 deals – an average of AED 12.1 million per home.
The strongest villa activity came in the AED5-10 million bracket, where 99 transactions generated AED639.2 million in developer off-plan sales, with a further 30 deals worth AED415.6 million recorded in the AED10-20 million range.
Data from DXBinteract shows that apartment sales were concentrated in the AED5-10 million bracket, with 111 transactions worth AED722.3 million, followed by 33 deals worth AED475.7 million in the AED10-20 million range.
Added to the 307 off-plan transactions last month, developers recorded another AED1.01 billion in sales of 58 ready properties above AED5 million at an average of AED17.4 million each.
“The premium end of the property market keeps proving its durability,” said Talal M. Al Gaddah, CEO and Founder of the Keturah luxury brand. “Investors are continuing to back Dubai’s long-term trajectory as one of the world’s leading real estate destinations.”
The company currently has two luxury communities under development in Dubai – Keturah Reserve, the AED5.7 billion bio-living community in Mohammed Bin Rashid City’s District 7, and the Ritz-Carlton Residences at Keturah Resort, on the shores of Dubai Creek, adjacent to the Ras Al Khor Wildlife Sanctuary.
Both developments sit within the top tier of the market, which last month saw seven villa sales in the AED20-50 million range for a total of AED207.9 million, and five deals in the AED50-100 million range worth AED344.9 million.
Meanwhile, 18 apartment sales in the AED20-50 million range amounted to AED521.5 million and three deals in the AED50-100 million sector totalled AED197 million, while a penthouse in Business Bay sold for AED200 million.
Dubai Islands was the area recording the highest number of off-plan transactions above AED5 million last month with 48 sales, followed by Dubai South with 39, and Palm Jumeirah with 22.
