Emirates Hills outperform Dubai property market
It’s due to consistent demand from high-net-worth buyers for this luxury community, often referred to as ‘The Beverly Hills of Dubai’
The luxury, high-end villa market in Emirates Hills appears to be immune from the softening property market in other areas, says Leigh Borg of Belleview Real Estate in Dubai.
According to Reidin figures, average property sale prices for Emirates Hills in 2015 have remained stable compared to 2014 sales figures. Emirates Hills villa sales in the over $5.4m (AED20m) price bracket have averaged at $680 (AED2,500) per square foot in 2015, consistent with 2014.
Borg says it’s due to consistent demand from high-net-worth buyers for this luxury community, often referred to as ‘The Beverly Hills of Dubai’.
“Emirates Hills is continuing to buck the trend in Dubai,” he said. “There is more demand for land and villas in Emirates Hills than supply, so it is natural prices remain high and stable. High net worth families moving to Dubai usually have Emirates Hills as one of their first choices to reside in Dubai and our agents then have the challenge to find something available within this prestigious community.”
Leigh added: “The gated community is very private, has an excellent location near to Shiekh Zayed Road and the Montgomerie Golf Club is integrated with the development. Also, most villa designs are bespoke and unique, giving the opportunity of a great lifestyle with solid investment returns.”
Further evidence of this demand was the reportedly largest ever villa sale in the history of Emirates Hills at $25.3m (AED93m) earlier this year, and a land only sale at $17.6m (AED65m).