Unveiling Dubai’s 10 Most Lavish Residential Areas
Palm Jumeirah excluded as Dubai’s top 10 priciest neighborhoods are unveiled
AI pinpoints Dubai’s priciest neighborhoods with average property cost exceeding AED20m
Palm Jumeirah fails to make the cut as Dubai’s top 10 priciest neighborhoods are unveiled.
Realiste, Dubai’s AI-powered property experts, unveil a report on ten most costly areas in the city.
The study indicates Jumeirah Bay secures first place with an average apartment price of AED20m ($5.4m).
The Index, which is one of Realiste’s primary offerings, was utilized to establish the rankings.
10 Most Lavish Residential Areas
Dubai’s Costliest Residential Districts Unveiled
- Jumeirah Bay: AED20m
- Al Sufouh Second Part 2: AED15.8m
- Al Sufouh First Part 2: AED15.8m
- Al Sufouh Second Part 1: AED15m
- Umm Suqeim Second Part 1: AED9m
- Arabian Ranches: AED6.6m
- Bluewaters Island: AED6.6m
- Zaabeel First Part 2: AED5.6m
- Al Yufrah 1: AED5.1m
- Wadi Al Safa 3 Part 2: AED5m
Although considered one of Dubai’s most expensive areas, Palm Jumeirah ranks 12th and fails to make it to the top ten list.
According to Alex Galtsev, Realiste’s CEO and founder, “Waterfront locations, green spaces, and popular tourist sites are factors that stimulate property demand in Dubai, and consequently, prices”.
Galtsev also noted that certain neighborhoods are expected to exhibit significant price growth within the next two years. For instance, based on the Index, property prices in Arabian Ranches are projected to rise by 12.9 percent by the end of 2024.
Nevertheless, certain areas within the city are poised to experience even more substantial price hikes in the coming years. According to Realiste’s Index, for example, Sobha Hartland is expected to grow by 15.6 percent within a year.
Realiste’s team commented that it is one of the most rapidly evolving neighborhoods in Dubai.
Numerous fresh residential complexes, including Kensington Waters and Wilton Park Residences, will be introduced in the district by 2024.
Source: https://www.arabianbusiness.com/industries/real-estate/dubais-10-most-expensive-neighbourhoods-revealed-and-palm-jumeirah-doesnt-make-the-cut
