A villa sold for Dh67 million in Emirates Hills, one of Dubai’s most affluent communities, topping the list of the 10 biggest villa deals completed in the second quarter 2013.
Data shared exclusively by Reidin.com with Emirates 24|7 reveals that the buyer paid Dh2,692 per square foot for the property and registered the transaction on June 9 with the Dubai Land Department.
Although in the first quarter, the biggest villa transaction was also registered in Emirates Hills, it was only half the price of the villa that topped sales in the second quarter. That villa was sold for Dh36.5 million, or Dh1,956 per square foot.
Emirates Hills and Palm Jumeirah each registered five deals as registered with the DLD in the second quarter.
In second and third position are transactions for villas priced at Dh54 million and Dh39 million, also in in Emirates Hills.
Emirates Hills houses luxury-detached villas that have been sold as plots to investor to build their properties on.
A Dh35.90 million villa deal on Palm Jumeirah took the fourth slot with the buyer paying Dh2,678 per square foot.
The fifth biggest transaction was registered in Emirates Hills with a villa selling for Dh34 million.
Emirates 24|7 had reported earlier that two villa transactions on the Palm Jumeirah valued at Dh22 million and Dh21.12 million, respectively, had made it to the top 10 biggest deals for 2012.
Reidin.com is an exclusive and primary data source for real estate markets in the emerging countries.
According to DLD, the total value of property transactions in the emirate rose by over 30 per cent to reach Dh108 billion compared to Dh80 billion registered in first half 2012.
Total value of apartment/villa transactions reached Dh28.8 billion during the first half, with Dh23.2 billion being cash transactions, Dh4.7 billion mortgage transactions and Dh849 million in other transactions.
Earlier this year, Deutsche Bank said that villa prices were still between 12 and 49 per cent below peak prices.
Top 10 villa deals, Q2, 2013
Area Price (Dh)
Emirates Living/Emirates Hills 67,000,000
Emirates Living/Emirates Hills 54,000,000
Emirates Living/Emirates Hills 39,000,000
Palm Jumeirah 35,900,000
Emirates Living/Emirates Hills 34,000,000
Palm Jumeirah 29,750,000
Emirates Living/Emirates Hills 29,750,000
Palm Jumeirah 26,500,000
Palm Jumeirah 25,000,000
Palm Jumeirah 23,625,000