Credits By: Arabian Business
Dubai has firmly established itself as the preferred destination for real estate investment among global smart investors, surpassing even renowned cities like New York, London, and Paris.
With a soaring price standard of $10 million and above, the Dubai real estate market has evolved into a coveted luxury asset class. Luxury real estate, in essence, has become the new global currency, attracting astute investors seeking long-term stability and opulence in their investment portfolios.
Kashif Ansari, the Co-founder and group CEO of Juwai IQI, an international real estate technology group powering property transactions and ownership worldwide, shared these compelling insights. He emphasized that Dubai, often dubbed the “City of Wonders,” has undoubtedly captured the attention of sophisticated investors worldwide, who now view it as a prime destination for luxury real estate investment.
Backing this claim, Knight Frank’s latest market report reveals a staggering surge in sales of properties valued at $10 million and above. The first half of this year witnessed an impressive $3.1 billion in sales, surpassing the total sales value of $3.9 billion recorded for the entire year of 2022. The prime residential real estate sector has experienced significant growth, with a remarkable 44 percent rise in value last year, further bolstered by an additional 11 percent surge in the first half of this year.
As Dubai continues to shine as a global beacon of luxury and prosperity, discerning investors are flocking to its real estate market, recognizing it as an unparalleled opportunity to not only diversify their investment portfolios but also experience the allure of the city’s luxurious lifestyle. With its unwavering allure and a promising outlook, Dubai stands tall as the premier choice for smart investors seeking to make a statement in the world of luxury real estate.