Dubai’s most expensive apartment deals in 2013 revealed

Dubai Marina registered the maximum number of the biggest apartment deals in 2013, but the costliest transaction was done in Palm Jumeirah, Emirates 24|7 can reveal.

An apartment in Fairmont The Palm was sold for Dh42 million, topping the list of the biggest transactions of the year, according to information provided by Reidin.com to this website.

Reidin.com is an exclusive and primary data source for real estate markets in the emerging countries.

The second place went to an apartment transaction in Le Reve (French for ‘The Dream’), in Dubai Marina, which was bought for Dh38 million.

Six of the top 10 biggest deals took place in the ultra-luxury tower, totaling over Dh148 million.

The third place on the list, once again, went to apartment in Fairmont The Palm. It sold for Dh33 million followed by a Burj Khalifa apartment in the fourth place, which sold for Dh29.8 million.

In the fifth place was an apartment in Armani Residences Burj Khalifa. It was purchased for Dh25.44 million.

The last five positions were held by apartment deals registered in Le Reve tower. Two transactions of Dh24 million each took the sixth position, with a Dh23 million, Dh20 million and Dh19 million deals taking the last three places.

Dubai remains the hottest property market in the world with prices rising at the fastest pace this year amongst the 41 global cities it compares, UK-based Global Property Guide has said.

The organisation, which collates real estate data from across the world, revealed price jumped 6.48 per cent in third quarter compared to second quarter, while year-on-year increase was 21.37 per cent.

Goldman Sachs Group, a US-based investment bank, said earlier that property prices were 36 per cent below their 2008 peak even after rising by about a third from a low in the second quarter of 2011.

Moreover, Knight Frank, UK-based consultancy, believes property prices will jump by 10 to 15 per cent in 2014 driven mostly by Expo 2020 development, buyer incentives and a relaxation of cooling measures.

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