Dubai’s luxury housing market is on an upswing that’s set to last all 2019
The luxury property sales market in Dubai has seen an uptick in the volume of transactions in the first six months of the year compared to the same period last year. This trend is expected to continue, indicating resilience in the higher end of Dubai’s real estate market.
Dubai’s luxury housing market registered 194 transactions in H1 2019 as compared to 115 such transactions in the same period in 2018, according to Data Finder, a real estate insights and data platform from The Property Finder Group.
Demand is back for established communities such as the Palm Jumeirah, Downtown Dubai and Emirates Hills. Once considered too expensive, these areas are now attractive after a drop in their prices. Data Finder’s analysis noted that the luxury market has also enjoyed a lot of interest with new projects such as Dubai Hills Estate and Mohammed Bin Rashid City.