A mansion worth AED 55 million ($14.9 million, 100.7 million) was sold at a record price per square metre of AED 7,775 ($2,116, 14,245).
Not so long ago, a sharp leap of 44.3% in prices per square meter was recorded on the island of Jumeirah Bay. It rose from AED 4,502 ($1,225, ¥8,248) in the first quarter to AED 6,500 ($1,769, ¥11,909) in the second quarter of 2022.
Such transactions demonstrate a market tendency for rare properties. This is not speculation or some type of hype, but a true form of end-user interest in ready-made brand-name residences. Exclusive residences at Bvlgari Resorts & Residences are in extreme demand. But currently, there are no options on the market that can meet this demand.
Jumeirah Bay, situated not far away off the coast between the famous World Islands and the iconic center of Dubai, is home to many attractive mansions. The seahorse-shaped island is one of the most sought-after and desired locations for acquiring properties in the whole city among wealthy and influential buyers.
The Jumeirah Bay district has proven that this is the place for the most exciting transactions since 2020. Among other record deals across Dubai is the transaction conducted by Luxhabitat Sotheby on a mansion on Jumeirah Bay for AED 121 million ($32.9 million, ¥221.7 million).
