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Among the 25 largest luxury real estate markets, Dubai ranked first in popularity among wealthy buyers. Demand is so high that in 2023, a 13.5% increase in prices for premium offers in all directions is expected. The second place was taken by Miami, Florida. The city is projected to grow by 5% in the next 12 months. The TOP-5 most popular destinations were closed by Dublin, Lisbon and Los Angeles - each is projected to increase prices by around 4% in 2023. Wealthy investors and buyers planning to buy a new property in the coming months are advised to pay attention to these five areas. Among the mentioned 25 global markets, Seoul and London have the worst forecasts — both are expected to drop prices by 3% in the next 12 months. It is also worth noting New York, which in this rating...

In the third quarter of 2022, Dubai broke a 12-year record in terms of both the number of sales and total revenue from them in the primary and secondary real estate markets. However, the emirate is only gaining momentum in the fourth quarter, especially in the premium real estate segment, taking advantage of its proximity to Qatar — the current venue for the 2022 FIFA World Cup. The event attracted the attention of not only a huge number of tourists, but also extremely wealthy real estate buyers. Taking into account the fact that Dubai has become a convenient transshipment point for visitors to the championship, it has also become an object of special interest from investors and super-rich foreigners. Such a rise is well superimposed on the beginning of the tourist season, which...

According to recent analyses of the global luxury real estate market, in the next few years, especially in 2022 and 2023, we can confidently expect an increase in sales volumes and prices for premium properties. At least we are talking about 6% growth in the next two years. The growth factors are a significant number of buyers of the UHNW category (individuals with super-large net worth), an increase in the popularity of purchases of «second homes», an increase in appetites for luxury goods and assets capable of absorbing the super-large savings of wealthy expat buyers and investors. Although the very definition of «luxury» or «premium» real estate, as well as the «elite» market, is blurred, we are still talking about those types of real...

The most famous luxury developer in the Middle East has launched Chic Tower, a 41-storey tower built to promote wellness and a healthy lifestyle in an exceptionally luxurious environment with many services and amenities. Chic Tower offers unparalleled access to world-class financial and lifestyle districts, as well as direct access to the Dubai Canal and the city's sparkling waterways. The developer plans to offer apartments with three and four bedrooms with extensive hydroponic walls and outdoor pools. Hi Tower offers exclusive studios, one-bedroom apartments and two-bedroom apartments, as well as one-bedroom lofts and mesmerizing private terraces. Hi Tower will open a beauty bar, the first of its kind in Dubai, which is said to be the key to youth.

According to the developer, Palm Flower will become a kind of measure of luxury and exclusivity on the palm island: there will be only 10 apartments in the building, but all of them will be the standard of premium real estate. The area of luxury apartments will be from 830 to 1700 square meters, and the main living area will be double height. The cost of this unique property is already known: it will be from 60 to 200 million dirhams ($16.34 — 54.45 million). In the recent past, the construction of several iconic objects on Palm Jumeirah Island was completed at once, which transformed it, including The View project, an observation deck at an altitude of 240 meters on the 52nd floor of The Palm Tower, which is now the highest point on the island. Recently, one of the most expensive...

According to the latest weekly data from Dubai Land Department, the Palm Jumeirah land and villas were sold for 600 million dirhams. Frond N's real estate area is just under 59,600 square meters, which confirms the island's reputation as an area in Dubai where large transactions are the norm of the day. Real estate insiders claim that the purchase for 600 million dirhams also includes a villa, while the price per square meter is more than 10,000 dirhams. The most recent purchase, which was completed a few weeks ago, was made after record sales of villas in Palm Jumeirah in 2022 in the amount of 280 million dirhams and 302.5 million dirhams. To understand why the most recent figure has increased to 600 million dirhams, more information will be needed, including the exact building area on...

At the end of October, on the 25th, Emaar Properties, a well-known Dubai developer, the leader of the premium market of the emirate and one of the largest construction companies in the region, had the opportunity to completely transfer to foreign ownership, if there are suitable international investors. Previously, there was a restriction for Emaar, according to which foreigners could own only 49% of the shares giving control over the company from the total number of such assets. Thanks to the approval of the Dubai Stock Market Commission (Securities and Commodities Authority) and the Dubai Department of Economy and Tourism (Department of Economy and Tourism), this bar has reached 100%. All shares of the company are registered and there are no restrictions and «minimum...

According to data from Dubai real estate market participants, the premium sector of the emirate has seen a huge increase in demand and prices for luxury housing in recent months. Quarterly growth by the third quarter of 2022 amounted to 11.29% in terms of prices and 1.11% in sales, earning $5.96 billion by the end of September. The premium apartment segment performed particularly well, showing quarterly growth of 4.75% and growing to $4.54 billion. According to data from the Dubai Land Department, the premium market of the emirate recorded 7,552 transactions for the sale of residential real estate by the end of the third quarter of the year. Quarterly growth at the end of September was 7.06%. Specifically, from January to September, 6,940 apartments, 316 villas and 251 townhouses were...

Luxury residential real estate is one of the main factors of Dubai's popularity among wealthy foreign buyers. The key areas of the emirate representing the largest list of options for purchase are Palm Jumeirah, Emirates Hills and Jumeirah Bay. These areas are responsible for the lion's share of all sales of premium housing in the city and they have demonstrated the most impressive price growth in this market segment over the past year — 88.8%. However, despite the fact that the growth rates remain in the same direction with the indicators of previous years, the nature of sales is strikingly different from the previous market cycle, which were associated with a wide demand for the purchase of luxury properties for investment practices «buy-to-let» and...

The Opalz project was sold out on the first day of its launch in 2022, reflecting the growing public and investor confidence in the developer and the Dubai real estate sector. Opalz is the 18th project in the developer's investment program. Opalz will be built on a 66,985 square meter plot of land in Dubai Science Park, opposite Dubai Hills Estate. It consists of two 19-storey towers connected by a podium at the bottom and a sky bridge at the top, which houses penthouses and common areas and offers spectacular views of the surrounding area from all sides of the building. When completed in 2025, Opalz will have 575 houses, including 261 studio apartments, 206 one-bedroom apartments, 69 two-bedroom apartments, 18 condominiums and 4 penthouses. The project is located in Dubai Science Park,...

A mansion built in Palm Jumeirah has become the most expensive house ever sold in the emirate, breaking the record for sales of luxury real estate in the city. The mansion is located on the gable of Palm Jumeirah, on the so-called Billionaires Row. The villa, known as Casa Del Sole, was sold in July 2022 for 302.5 million dirhams ($82.4 million). The company declined to name the buyer, citing confidentiality. According to a partially edited ownership document, the mansion was purchased without a mortgage. Property prices in Dubai have risen over the past year as a result of the government's fight against the pandemic and its liberal visa policy, which has attracted more tourists. Many new government measures, such as long-term Golden Visas, in particular, have benefited the luxury real...

Will the value of real estate in Jumeirah Bay Island, Emirates Hills and Palm Jumeirah increase by 100% in a year? Given that market sources mention several likely acquisitions that could increase the value of these three ultra-modern facilities in the city, this seems like a very real possibility. The above districts appear to have done well during the 2022 year ending September 2022. There has been a 29% increase in value since July 2022, as rich people from the UAE and other countries rush to purchase real estate in the UAE. The most expensive deal in the Dubai real estate sector recently occurred with a villa on the Palm Tree, which was sold for 302.5 million dirhams. In fact, according to the consulting company Knight Frank, the value of real estate in Palm Jumeirah has increased by...

A mansion on the artificial island of Palm Jumeirah has become the most expensive real estate in the Emirate of Dubai, being sold to a wealthy buyer, whose name is not indicated, for $82.4 million. The building, called Casa Del Sole, found its buyer back in July 2022, but information about the closure of all necessary formal obligations between the parties became known only in September. Despite the absence of an indication of the identity of the acquirer, due to concerns about confidentiality, Bloomberg was able to establish that the transaction was concluded without the use of any borrowed funds, i.e. mortgages. Casa del Sol is located on one of the branches of Palm Jumeirah called Frond G, also known, since recently, as a «Billionaires’ Row». This area has...

Dubai's Palm Jumeirah district, an artificial island that has remained a symbol of the emirate for almost two decades, has always been a place of attraction for very wealthy expats and real estate investors. However, even in this area, it is easy to establish a gradation between the wealthy and the rich, the rich and the super-rich, the super-rich and the indescribably wealthy. One of the places where the most affluent citizens of the world «flock» has become one of the branches of the island- palm Frond G. The leader in the most expensive deals in the emirate, this Palm Jumeirah area has been gaining more and more popularity among UHNWI buyers in recent months (persons with super-large net worth). There are enough experts who claim that such a «Billionaires’...

With the weakening of COVID-19 at the end of 2021, the easing or lifting of various quarantine restrictions in Dubai, public life and economic activity began to return to normal in the emirate. At the same time, the city opened up to many foreigners: tourists, businesses, investors and experts. Dubai has gained particular attention among a wide range of high-net-worth individuals (HNWI), who were attracted by the local elite, but relatively cheap real estate. The emirate's housing market has picked up the moment of growth and retains it to this day, having already lived several historical records and not going to stop there. At the end of September 2022, 8,649 real estate transactions totaling $6.6 billion were concluded on the market in a month. The indicator is slightly lower than...