Luxury Real Estate Market Forecast in the United Arab Emirates
Terraces Properties, a luxury real estate development company, expects an increase of 24.6% in the influx of high-net-worth individuals (HNWIs) to the UAE by 2025.
According to the Director of the Terraces Group, this increase will push the UAE’s ultra-luxury real estate sector to new heights.
2023 saw a decrease in the available supply of luxury and ultra-luxury units in prime locations.
Which has led to record-breaking prices for villas and penthouses in the UAE.
Preferable Locations for Luxury Investors
Based on industry expert analysis, investors interested in luxury properties should focus on sought-after locations.
Such as Palm Jumeirah, Emirates Hills, and others, where prices are expected to rise by 5% this year.
Dubai Hills stands out as a promising investment area.
Especially after “The Imperial” luxury project, which achieved a record price per square foot for a non-waterfront property in December.
Projects like these contribute to Dubai’s flourishing luxury real estate sector.
Dubai’s luxury real estate sector helps bolster predictions of a 15% overall expansion of Dubai’s real estate market this year.
Dubai ranked fifth globally for the highest number of homes sold at $25 million
the Director of the Terraces Group stated:
“Dubai has long been synonymous with luxury and excellence, reflected by the influx of HNWIs in recent years.
These individuals have significantly invested in Dubai’s real estate landscape.
Revitalizing the market and the broader economy in the post-pandemic era.
Developers who prioritize innovation and have meticulous attention to detail.
In addition to technological integration can set new standards for luxury living, ultimately contributing to the UAE’s economic success.”
Abdullah bin Zayed: The #UAE provides a grant worth $10 million to support World Trade Organization funds pic.twitter.com/AzwYXf3swt
— UAE Voice (@uae_voiceeng) February 24, 2024
He continued:
“Dubai ranked fifth globally for the highest number of homes sold at $25 million or more in 2023.
Real estate developers must continue to present pioneering concepts to attract elite clients worldwide.
And also to solidify Dubai’s position as a leading destination for luxury real estate investment.”
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