Dubai Marina and JLT apartment prices up by 8-10%
Investor confidence in Dubai's real estate sector growing, says report
Residential apartment prices in Dubai have increased, with areas like Dubai Marina and Jumeirah Lake Towers recording an average rate rise of between 8 to 10% in the last six months, according to a new report by Hamptons MENA.
The report found that premium and secondary towers in both these developments are witnessing increased viewing activity and interest for units.
Declan King, valuation & research manager of Hamptons MENA, said: “The positive gains reported by property in Dubai Marina and Jumeirah Lake Towers is testament to investor confidence in Dubai’s real estate sector strengthening across the board.
“Initially, the growth in demand and price was largely confined to selected neighbourhoods. The growing interest in real estate across diverse developments highlights that investors see stronger value proposition in the city’s property, led by Dubai’s vibrant economic fundamentals.”
Citing reports by the Dubai Land Department, Hamptons MENA reported that premium and secondary towers in Dubai Marina have reported an average 8 to 10% growth in price in the past six months. While premium towers – which have traditionally been hugely sought-after – in Jumeirah Lake Towers recorded similar growth trends, price gains by secondary apartments in the development were 3 to 5%. This is supported by increased viewing activity and interest for units across primary and secondary towers in both developments.