Dubai's real estate market has recorded a significant surge in ultra-luxury home prices in Q1 2023, as the demand for prime property continues to grow amidst the emirate's broader economic recovery. According to Luxhabitat Sotheby's, the average price of a prime property in Dubai has risen to $6.86 million, marking an increase of over 27% compared to the previous quarter. Luxury Home Sales Volume and...
Real Estate News
According to a recent report by global consultancy CBRE, residential properties in Dubai that are only a short walk from metro stations have outperformed the wider real estate market in the emirate, both in terms of sales price and rental performance. CBRE’s Dubai Metro Report 2023 reveals that residential units within a 15-minute walk of the emirate’s transport network that began operations in 2009...
Dubai's real estate market is known for its luxury and exclusivity, and the recent sale of a 24,500 square feet sand plot in Jumeirah Bay for Dh125 million ($34 million) is a testament to that. The plot has set a new record for the most expensive land plot sold in the UAE, and its sale highlights the continued growth of Dubai's prime property market. The plot was sold to an international buyer, whose...
Are you a non-resident investor with an interest in Dubai's vibrant property market? Whether you're a businessman with connections in the UAE or simply looking for a lucrative investment opportunity, Dubai's investor-friendly environment offers a wealth of options for those interested in buying and selling property. If you're a non-resident investor looking to purchase property in Dubai, the process is...
As the influx of high-net-worth individuals continues in the UAE, tenants are increasingly seeking better-quality properties, resulting in higher rents for new and Grade A buildings. In contrast, old and poor-quality buildings are facing challenges with rising vacancies, particularly in Sharjah. According to Savills, a leading real estate consultancy, Abu Dhabi's leasing activity remains stable, but...
Damac Properties, one of Dubai's leading developers, has recently unveiled its latest luxury development, Damac Bay 2 by Cavalli. The opulent high-rise tower, designed by the iconic Roberto Cavalli brand, is located in Dubai Harbour and features world-class amenities, offering residents a lavish wildlife-inspired oasis. Dubai has long been known as a city of luxury and opulence, and Damac Properties...
The real estate market in Dubai is experiencing a surge in $10 million plus home sales, with the Al Wasl-Dubai Canal area emerging as the latest hotspot. The area is becoming increasingly popular with wealthy investors, who are on the lookout for all available options. Developers are offering options outside of the usual prime locations, such as the Palm, Emirates Hills, and Jumeira Bay island, to cater...
Dubai's Luxury Real Estate Market Continues to Attract High-Net-Worth Buyers from Around the World The Dubai luxury real estate market has always been a popular destination for high-net-worth individuals from around the world, and the trend shows no signs of slowing down. The latest high-profile purchase was made by French influencer Nabilla Vergara, who recently acquired a luxurious penthouse worth...
Cheval Collection, the renowned luxury hospitality group, has expanded its portfolio to Dubai with the opening of Cheval Maison on Palm Jumeirah. This all-apartment boutique property is the first of its kind in the UAE, featuring 131 apartments, and marks Cheval Collection's first property outside of the UK. The property is set to open on April 15, and offers guests the opportunity to experience...
Dubai is now the top global location for branded residences, with the most number of schemes in the pipeline compared to any other market in the EMEA region. According to a report by Savills, the sector is expected to grow over 73 percent until 2030, making it roughly 30 percent more active than the second most active market, South Florida. Savills Director of Global Residential Development, Rico...