Dubai’s luxury home prices rose 41% in fourth quarter of 2021 – The National

  • Date: 27-Jan-2022
  • Source: The National
  • Sector:Real Estate
  • Country:UAE
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Dubai’s luxury home prices rose 41% in fourth quarter of 2021 – The National

Prices of luxury homes in Dubai increased 41 per cent in the fourth quarter of 2021, compared with the previous quarter, with the average property price reaching Dh4.6 million ($1.25m), as sales surged amid a continued economic recovery from the pandemic-induced slowdown.

The emirate's prime residential market recorded a 5.27 per cent increase in the number of home sales, with deals valued at Dh17.07 billion, according to analysis by Luxhabitat Sotheby’s based on data from the Dubai Land Department.

A total of 5,205 apartments and 552 villas were sold during the quarter.