Dubai Real Estate Market is currently at $750 billion and is expected to reach $966 billion by the end of 2024 as per the report published by Statista. This growth is often attributed to the growing Affiliate investors’ base, specifically, High Net Worth Individuals (HNWI) targeting luxury investment properties in Dubai.
Specifically, based on the statistics, within the first quarter of 2024, 105 luxury residence units were sold in Dubai. Rising incompleteness of transactions, both primary and resale, can point to the city’s ability to close more such transactions than last year’s record of 431 luxury deals of over US$10 million of property, more than New York or London.
This pattern of migration of HNWIs to Dubai is expected to remain buoyant in the futuare as the number is expected to increase by 24. 6 percent by 2025. The rise in the number of such sales is predicted to continue to support the city’s ultra-luxury and general real estate industries.
Georgina Atkinson, who represents Origin Private Office SE in its Swiss office, stressed that the market of the region’s real estate remains buoyant and pointed to the leadership of Dubai in terms of sales volume and growth of prices. A notable amount of investors attention is being attracted to the ultra-prime segment, with both regional and international clients showing interest in investing into the Dubai property market; many of Real Asset’s ultra-high-net-worth (UHNW) clients from Asia, UK and Europe are either relocating to the Emirate or making their representative investments in Dubai, according to Smith.
Atkinson also highlighted the consultancy role within their operations as navigators who help developers within the ultra-prime sector. “We are a multicultural team and have been involved in the construction of some of the iconic buildings across the globe,” she continued, “We have exciting prospects to provide fantastic residential properties to our growing real estate market in Dubai,” she concluded.
Bearing in mind the persistence of wealthy investors and the guides of experienced consultants and developers, the conditions are ripe for the UAE’s property market to show records growth in the coming years, which strengthens Dubai’s position as popular luxury property investment attraction.
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