In the period from July to September 2022, the Dubai real estate market showed the best performance in more than a decade, setting another record for the highest value of sales of both villas and apartments.
The villa was purchased for 302.5 million dirhams for a brand new house in Palm Jumeirah. The apartment was purchased for 163 million dirhams by a seller in Atlantis The Royal Residences, another project that will soon be completed in Palm Jumeirah.
The deal worth 302.5 million dirhams barely surpassed another 280 million dirhams Palm Tree house, which was reportedly acquired by the family of Indian billionaire Mukesh Ambani.
Given the flow of luxury real estate projects launched by Dubai developers over the past five years, this was inevitable. If you look at the most expensive offers in the city, you will notice that the prices for apartments/penthouses are much higher than most offers for villas.
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