Which Dubai community saw biggest villa deal?

Palm Jumeirah registered nine of the top 10 biggest villa deals in the first quarter 2014, with average prices ranging between Dh3,000 and Dh4,900 per square foot, data shared exclusively by Reidin.com with Emirates 24|7 reveals.

The biggest deal took place on the man-made island, with the 11,969 square feet villa selling for a whopping Dh45 million.

The transaction, registered in March, saw with the purchaser paying Dh3,760 per square foot.

Only one transaction in Emirates Hills was placed in the list of top 10 villa transactions registered by Dubai Land Department in the first quarter.

A 7,613-square feet villa on the Palm Jumeirah took second spot on the list, after being sold for Dh37.4 million, or Dh4,913 per square foot.

Dh30.5 million and Dh25.75 million transactions, again on the Palm, took the third and fourth, respectively.

An 11,751-square feet villa in Emirates Hills, sold for Dh23.5 million, was placed fifth.

Reidin.com is an exclusive and primary data source for real estate markets in the emerging countries.

According to Reidin.com data, villa sales prices in February registered an increase of 3.28 per cent month-on-month and 19.56 per cent year-on-year.

Last week, Emirates 24|7 reported that an apartment sold for Dh60 million in Burj Khalifa, the world’s tallest tower, topped the list of the 10 biggest apartment deals completed in first quarter 2014.

HSBC Global Research said in a new report that it expected residential property prices in Dubai to increase by 10 to 15 per cent in 2014.

“We forecast 10-15 per cent growth in prices from current levels in 2014 and relatively stable net yields at 4.5-5 per cent,” the bank said in a recent report.
 

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