Dubai’s luxury real estate outpacing London and LA
Dubai’s luxury property market outshines London and Los Angeles in attracting the world’s elite with record homes sales valued over $10 million.
2 min
According to industry insiders, the city leads globally in luxury property transactions and branded residences. They also highlight Dubai’s remarkable growth in the high-end residential sector, drawing comparisons with established markets such as London and LA.
The city’s appeal to buyers is attributed to its political stability, attractive wealth management policies, and lifestyle offerings, positioning it as a top choice among the world’s wealthiest alongside major global cities.
Experts also note a significant shift in the luxury market dynamics post-2020, driven by the pandemic, geopolitical unrest, and a quest for safer environments, enhanced living standards, and tax benefits. This has led to a surge in demand for luxury properties in Dubai, surpassing other cities in this segment. And the competition among developers to offer superior quality and serviced properties, which has further stimulated market growth.
They also see that Dubai has matched the quality and prestige of cities like London, LA, and New York. The city has witnessed a 33 percent increase in property prices since the pandemic, with rental rates also on the rise, offering higher yields compared to cities like Paris and Singapore. Dubai continues to expand its luxury real estate offerings, including branded residences from internationally renowned brands, enhancing its appeal to global buyers.
In addition, experts point out the growing international interest in Dubai’s real estate market, with a notable influx of European investors. The demand for privacy, space, and luxury amenities is on the rise, with projects catering to these desires, such as luxury beachfront villas, attracting attention from high-profile clients.
The variety of nationalities among buyers, valuable investment policies, and Dubai’s strategic position geographically all play a role in its increasing attractiveness. And initiatives such as the Golden Visa residency program aim to further boost the city’s appeal to overseas investors. Additionally, with anticipated population growth and a strong yearly forecast for growth in the residential market, Dubai is poised to maintain its rising status in the international luxury real estate scene.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
The Ultra-Luxury Development Offers Comfort, Privacy, and Personalized Service
< 1 min
UAE real estate developer, Palace Group, has unveiled its latest ultra-luxury residential project in the heart of Downtown Dubai. Situated on Dubai Gardens Main Road, next to Eden House, this new development promises comfort, privacy, luxury, and personalized service.
The project, designed by John McAslan + Partners, the award-winning architects behind the Nobu Residences, will feature 70 apartments and penthouses. Each residence will boast luxurious interiors, top-of-the-line fixtures, and high-quality fittings, with private balconies offering breathtaking views of Dubai’s skyline, ensuring a unique and personalized living experience.
Residents will have access to an array of upscale amenities focused on providing a luxurious lifestyle. Highlights include a spa, a high-end fitness facility, and a business center. Family-friendly amenities such as a kids’ club and play areas are also available.
Palace Group aims to support a resplendent urban lifestyle by offering a comprehensive array of services to meet the diverse needs of its residents, making it the ultimate sanctuary for executives and families alike. The project’s strategic location provides convenient access to major business hubs, world-class dining, shopping, and entertainment options, facilitating a perfect balance between work and leisure.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
