In the month of April, there were 946 transactions that amounted to AED 1.4 billion in the residential market, according to REIDIN. The median price per square feet for these residences was AED 945 per square feet. In the prime residential market, the Dubai Marina area reported 114 transactions worth AED 205 million in April alone, with an average price of AED 1,442 per square foot.
Here are the top 10 transactions for April 2016:
1) Arabian Ranches Villa - AED 13.8 million
An Arabian Ranches villa was the most expensive property sold in April for AED 13.8 million for a 7,833 square feet built up area (BUA) villa and a 16,668 square feet plot size. There were 27 Arabian Ranches villas sold last month. The above villa listed by us is of a higher price, but is much more massive at 9,000 square feet BUA on a 19,000 square feet plot.
2) Arabian Ranches villa - AED 13.2 million
A much smaller Arabian Ranches home sold at 5,602 square feet BUA on a plot size of 6,702 square feet. Above pictured is our exclusive listing around the same prize range with a smaller BUA of 4,428 square feet; but your kids will have plenty of backyard space to play in as the plot size is 11,500 square feet.
3) Shoreline Apartments, Palm Jumeirah - AED 12.5 million
A penthouse in Palm Jumeirah sold at the Shoreline Apartments at a BUA of 5,249 square feet. The above is a penthouse in the Shoreline Apartments that we have for rent.
4) Jumeirah Islands villa - AED 10.1 million
A villa in Jumeirah Islands sold for AED 10.1 million with a BUA of 5,253 square feet and a plot size of 10,034 square feet. This villa featured is the same size and yet is offered at a lesser sale price at AED 7 million. Six villas sold in the Jumeirah Islands area for AED 38 million in April.
5) Palm Jumeirah villa - AED 10 million
To round off our top 5 list, a Palm Jumeirah villa sold for AED 10 million. With a BUA of 3,075 square feet on a 3,731 plot, it is most probably a Palma Residences villa, claims Joey Elaty, our Palm Jumeirah Senior Advisor. A total of 30 apartments and villas were sold this April, worth AED 97 million.
Stay tuned for our market updates next month!