Prices for Dubai’s Luxury Homes Have Jumped 27%
The average price of an ultra-luxury homes in Dubai rose more than 27% quarter over quarter in the first three months of the year, reaching AED25.2 million (US$6.86 million), according to a report by Luxhabitat Sotheby’s, based on data from the Dubai Land Department. “Moving into the second quarter we see a continuation of high-volume residential transactions within the super prime luxury segment…primarily fueled by the current lifestyle and wealth shifts being witnessed from incoming European buyers and a recent increased trend from institutional investors moving back into bricks and mortar asset classes,” said Chris Whitehead, managing partner at Luxhabitat Sotheby’s International Realty.
