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Prices soar for beachfront real estate in Dubai

Date : (News Section: United Arab Emirates)

Prices soar for beachfront real estate in Dubai
Prices for beachfront properties in Dubai have soared in the past year, rising by as much as 20 per cent.

This is according to senior residential consultant at Better Homes Elen Manukyan, who told Emirates 24|7 that prices have soared since the middle of last year.

The news follows recent comments from property consultant at Knight Knox International Mike Sefton, who noted earlier this month that investors are beginning to have more confidence in property in the UAE.

He added that the market is looking more stable and that increasing numbers of investors are choosing the destination for long-term investments.

In terms of Dubai's beachside properties, Ms Manukyan claims villas are proving particularly popular, with the expert adding properties in Jumeirah Beach Residence (JBR) are typically the most affordable, while villas in the Palm represent the most expensive investments.

"The sale price of such properties vary from an average of 900 dirhams [£151] per square [foot] in JBR and goes up to 2,200 dirhams per square [foot] for Kempinski and Palm Jumeirah Villas," comments the specialist.

Article created on behalf of News Desk ()

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