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Luxhabitat: MBR City tops sales volumes with $545m in Q3 2019

Villa in District One of MBR City sold for $24.5m making it the most expensive home purchase in 2019

Purchase of a villa in District One of MBR City was most expensive in 2019.
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Purchase of a villa in District One of MBR City was most expensive in 2019.

Dubai’s Mohammed bin Rashid City (MBR City) tops the list of prime residential areas in Dubai with sales volumes exceeding $545m (AED2bn) in Q3 2019, even as a particular MBR City villa in District One sold for $24.5m (AED90m) – the most expensive home purchase in 2019 – according to a Luxhabitat analysis.

The report stated that more than 2,280 villas and 6,963 apartments were transacted during Q3 2019 in the overall residential market, with Downtown Dubai witnessing sales volumes rise to $381m (AED1.4bn); and Dubai Creek Harbour’s sales volumes climbing to $243m (AED894m).

Sales in areas such as Bluewaters Island, Madinat Jumeirah Living, Jumeirah, and Dubai Harbour more than doubled in Q3 2019, compared to the previous quarter.

In the secondary market, the volume of transactions decreased 19% from $3.6bn (AED13.4bn) in Q1 2019 to $2.9bn (AED10.8bn) in Q3 2019, despite a 13.75% increase in the number of transactions.

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Construction Week - Issue 753
Nov 09, 2019