Dubai’s luxury real estate – record sales surpass Dubai London and New York. Over the year as a whole, sales rose by 91%, with 28% occurring in the final quarter. The super prime market (> 25 million $) also recorded an increase. In the first nine months, twice as many properties were sold as in New York. The top buyers came from the UK, China, the UAE and India. Palm Jumeirah was the preferred location with 38.5% of all sales over 10 million US dollars. ValuStrat reports on rising villa prices. Dubai remains a popular destination for high-net-worth individuals, with the pandemic playing a positive role. New prime areas such as Al Barari and Jumeirah Golf Estates are emerging. The number of properties listed across the city over 10 million US dollars fell by 8.9%. Palm Jumeirah has 237 units under construction, but no new villas planned. The island retains its appeal due to its location in the new Dubai and its Blue Flag status. Jumeirah Bay Island and Palm Jebel Ali also reported sales of over 10 million US dollars. Dubai remains a sought-after destination for prime real estate, driven by local and international demand for beachfront properties and green residential areas. Dubai’s luxury real estate market reached record sales of over USD 10 million in 2023, surpassing London and New York. Over the year as a whole, sales rose by 91%, with 28% occurring in the final quarter. The super prime market (> 25 million $) also recorded an increase. In the first nine months, twice as many properties were sold as in New York. The top buyers came from the UK, China, the UAE and India. Palm Jumeirah was the preferred location with 38.5% of all sales over 10 million US dollars. ValuStrat reports on rising villa prices. Dubai remains a popular destination for high-net-worth individuals, with the pandemic playing a positive role. New prime areas such as Al Barari and Jumeirah Golf Estates are emerging. The number of properties listed across the city over 10 million US dollars fell by 8.9%. Palm Jumeirah has 237 units under construction, but no new villas planned. The island retains its appeal due to its location in the new Dubai and its Blue Flag status. Jumeirah Bay Island and Palm Jebel Ali also reported sales of over 10 million US dollars in units.
Dubai’s luxury real estate – record sales of over USD 10 million
