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Dubai property prices rise in Q3 after downturn

Dubai property prices rise in Q3 after downturn

Dubai property market

More than 2,280 villas and 6,963 apartments were bought and sold in Dubai during the third quarter of 2019, according to new figures from Property Monitor published by Arabian Business.

Analysis by Luxhabitat based on data by Property Monitor showed that the volume of transactions in the secondary market was AED10.8 billion, down from AED13.4 billion in the previous quarter.

However, there was an increase in the number of transactions by 13.75 percent while the average price per square foot also went up by 2.5 percent for secondary market units.

The research showed that the biggest residential deal seen in Q3 was for a villa in District One, MBR City which was bought for $90 million, followed by a $74 million transaction for a penthouse apartment in One, Palm Jumeirah.

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