In Dubai, owners of super-luxury homes delay sales as prices keep increasing 10-15%

In Dubai, owners of super-luxury homes delay sales as prices keep increasing 10-15%

Dubai: With Dubai’s property values riding higher, those with ready luxury homes are delaying plans to sell – because they can ask for more in the months ahead. And get that asking price, with homes at the Palm, Dubai Hills, Jumeira Bay and District 1 no seeing 10-15 per cent annual price gains. Sales of Dh100 million plus homes too are on their way to new highs. “Yes, some sellers are holding on since they can see the upward trend,” said Dounia Fadi, Chief Operating Officer of Berkshire Hathaway HomeServices Gulf Properties, which specialises in properties right up there on the value chain. “Owners have increased their prices, which made the properties out of reach for some buyers. So, many of them ended up renting instead, while picking and choosing from some of the recent high-end projects that being launched by renowned developers.” This is why developers are making a return with premium projects, with the likes of Damac and Dar Al Arkan doing so in association with some renowned luxury labels. Nakheel too launched a cluster of high-end villas in Jebel Ali and more luxury launches on the way, including a bespoke tower on the Palm from Alpgao Properties