Dubai Luxury Property Market Shows Depth of Investor Confidence

DUBAI, UAE – Dubai’s luxury residential market continued to demonstrate strong investor confidence in July, with developers recording 244 off-plan home sales priced above $1.36 million (AED5 million), according to an analysis by luxury developer Keturah.

The transactions generated a combined value of $931.1 million (AED3.42 billion), spanning price brackets from $1.36 million to $2.72 million (AED5 million to AED10 million) through to $13.61 million to $27.23 million (AED50 million to AED100 million).

The average value of the off-plan residential transactions reached $3.81 million (AED14 million), indicating that demand extended across multiple segments of Dubai’s luxury property market.

Apartments Lead Luxury Off-Plan Sales

Keturah’s analysis showed that 151 off-plan apartments were sold during July, generating $626.2 million (AED2.3 billion), while 93 villa transactions generated approximately $299.5 million (AED1.1 billion).

The $1.36 million to $2.72 million (AED5 million to AED10 million) bracket accounted for the largest number of apartment transactions, with 81 sales worth $150.4 million (AED552.6 million).

However, a significant proportion of transaction value was generated at higher price points.

Data from DXBinteract showed 41 apartment sales between $2.72 million and $5.45 million (AED10 million and AED20 million), worth $161.6 million (AED593.6 million). A further 24 transactions between $5.45 million and $13.61 million (AED20 million and AED50 million) generated $192.9 million (AED708.5 million).

“Dubai’s luxury market is demonstrating a depth of demand that goes beyond individual high-value transactions,” said Talal M. Al Gaddah, CEO and Founder of the Keturah luxury brand.

“Investors are continuing to commit substantial capital to Dubai residential property because they see that the city’s long-term fundamentals, international appeal and investment proposition remains strong.”

Keturah currently has two luxury communities under development in Dubai: Keturah Reserve, the $1.55 billion (AED5.7 billion) bio-living community in Mohammed Bin Rashid City’s District 7, and the Ritz-Carlton Residences at Keturah Resort on the shores of Dubai Creek, adjacent to the Ras Al Khor Wildlife Sanctuary.

High-Value Transactions Support Market Depth

Off-plan apartment sales by developers in July included four transactions in the $13.61 million to $27.23 million (AED50 million to AED100 million) bracket at an average value of $19.03 million (AED69.9 million), as well as one transaction valued at $45.19 million (AED166 million).

Villa demand followed a similar pattern. There were 60 transactions in the $1.36 million to $2.72 million (AED5 million to AED10 million) bracket, amounting to $105.5 million (AED387.4 million).

Another 22 villa sales between $2.72 million and $5.45 million (AED10 million and AED20 million) generated $86.3 million (AED317.2 million), while 10 transactions in the $5.45 million to $13.61 million (AED20 million to AED50 million) range were worth $91.0 million (AED334.1 million). Another villa sold for $19.79 million (AED72.7M).

Three-Month Sales Reach $3.3 Billion

The July figures build on sustained activity in Dubai’s upper residential market.

Over the past three months, developers have recorded 942 off-plan residential sales above $1.36 million (AED5 million), with a combined value of $3.30 billion (AED12.11 billion). The average transaction value stood at $3.51 million (AED12.9 million) per property.

Demand has also extended to completed luxury homes. In July, Dubai developers recorded a further 43 ready property transactions above $1.36 million (AED5 million), worth $150.5 million (AED552.8 million), at an average value of $3.51 million (AED12.9 million).