Latest Dubai Real Estate trends report reveals that Downtown Dubai tops the most expensive neighbourhood to rent and buy apartment in Dubai, while Emirates Hills is the most expensive area to buy or rent a villa in the city.
Those in search of a residence befitting their Dubai lifestyle may want to check out these Top 5 lists, rounded up by Propertyfinder Group, showing the most expensive apartments and villas to rent or buy in the City of Gold.
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Dubai Apartment Price Trends
Even with real estate prices dropping across the country, luxury living still comes at a premium. The median price to rent an apartment in Dubai is AED 89 per square foot. By contrast, Downtown Dubai (AED 117 per sq ft), the most expensive neighborhood to rent, is a whopping 31% more costly than the emirate’s median.
The biggest drop in asking price for apartments for sale was in The Views (-5.2%), knocking it off the Top 5 list of most expensive. Still not a bargain, though, at AED 1543 per sq ft.
Dubai Villas Price Trends
For those looking to buy a villa, here is some context: a square foot in Emirates Hills costs 243% more, and in Palm Jumeirah 221% more, than the median asking price in Jumeirah Village Circle, the least expensive area in Dubai.