Data showed that Dubai's secondary prime residential market has doubled in sales volume quarter-on-quarter as the volume of transactions reached Dh6 billion in Q3 compared to Dh2.7 billion in the previous quarter. There also has been a price correction of 12 per cent, from Dh1,169 per sqft in Q2 to Dh1,028 in Q3.
The number of apartments sold in the secondary market doubled quarter-on-quarter from 520 to 1,177 and the number of villas sold nearly doubled from 188 to 418. The average price of an apartment in the secondary prime residential market is now Dh1.8 million and a villa is Dh6 million.
