In 2021, investors were interested not only in low-cost properties but also in premium ones. The growth in demand led to higher sales and prices. According to the consulting agency Knight Frank, real estate sales worth over $10 million reached their 2015 level. This is not the highest level, as it was in 2014, so it is likely to grow.
Palm Jumeirah is the leader in demand. The island, called another wonder of the world, attracts buyers of luxury real estate. It accounts for three-quarters of sales, combined with the Emirate Hills and Jumeirah Bay. The latter broke all records, setting a new sales level of $20 million. It can be classified as super ultra-premium.
Wealthy buyers are interested in exclusive metropolitan areas. Both luxury apartments in skyscrapers and villas are breaking records in value. The time when UAE architects focused only on their taste was over. There is cooperation with European brands that take part not only in the development but also in interior design. New projects implemented by Dubai developers suggest that $20 million is the minimum associated with premium property prices. These are such leading developers of the UAE as Damac, Alpago Properties.
