Dubai Marina property prices soar

03/12/2012 - Dubai Property News
Dubai Marina property prices soar

Property in Dubai Marina has been selling at a premium, according to recent media reports. The luxury district, which is home to The First Group’s latest project, TFG Marina Hotel, has been commanding prices of between 12-86% more than the asking price. A 150 square metre apartment recently sold for AED1.68 million, 20% higher than its base price of AED1.14 million, while a 89-square-metre apartment in the same tower was bought for AED1.34 million, 67.5% over the reserve price of AED800,000. Another property sold for nearly 86% above the base price, at AED2.42 million. The news provides more proof of Dubai Marina’s huge popularity as a location for property. Over the last few years it has fast become of the most coveted areas to live and reside in the city.