Dubai’s luxury real estate market continues to attract wealthy buyers looking for high-end residential properties, according to a report from Knight Frank. In the first quarter of the year, sales of homes worth $10 million or more increased by six percent compared to the previous year. The demand for luxury properties in the emirate remained strong, with a total of 105 homes sold for a combined value of $1.73 billion.
Dubai ranked first globally in terms of the number of home sales over $10 million last year, outperforming cities like London and New York. The city also saw double-digit gains in luxury property prices, defying trends in other major cities. Faisal Durrani, head of research at Knight Frank, attributes this success to Dubai’s relatively affordable high-end homes that offer value compared to other global cities.
Palm Jumeirah dominated the luxury home market in the first quarter, followed by Jumeirah Bay Island and Dubai Hills Estate. While these areas continue to attract buyers, markets like Dubai Hills Estate are emerging as new opportunities for investment. Despite impressive growth rates, Dubai’s luxury real estate market remains one of the most affordable globally. The city’s appeal to international buyers as a second home destination drives demand for luxury properties.
In other news, platforms like Depositphotos offer a wide range of topics for discussion, from digital marketing videos to exploring criminal behavior and finding the perfect American football images. These diverse discussions showcase the interests and content available to users on these platforms.
Overall, Dubai’s luxury real estate market continues to be a popular choice for international buyers looking for high-end residential properties at an affordable price point compared to other global cities.
Luxury properties in Dubai are highly sought after due to their affordability compared to other global cities.
Dubai is known worldwide for its high-end real estate market that attracts wealthy buyers looking for luxurious residential properties.
The city’s appeal as a second home destination drives demand for luxury properties despite rising prices.