Demand for Luxury Rental Properties in Dubai Spiked in Q2 A New Analysis From Luxhabitat
Demand for luxury rental properties in Dubai spiked in Q2 According to a new analysis from Luxhabitat, a high-end property brokerage, secondary residential market transactions in Dubai remains stable in the second quarter of 2018. The market saw a total volume of AED 12.1 billion in Q2 when compared to AED 14.4 billion in Q1. The data reveals that over 1,400 villas and 6,652 apartments were bought and sold in the quarter. x The report also claimed that off-plan market activity in Dubai continued to stabilise in Q2. There were several new launches during the quarter that helped stabilise it. Off-plan transaction volumes along with the overall number of transactions fell by almost 28% from the previous quarter according to Luxhabitat . There are a total of 80,000 units scheduled for completion in 2018. The data indicate that secondary villa sales volume is double that of off-plan sales in the quarter while the prime residential market in Q2 totalled AED 3.5 billion. Of the areas r...
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