Y-Axis Immigration Services

Sign up for free

expert consultation

Down Arrow

I accept the Terms & Conditions

Icon
Don' know what to do?

Get Free Counseling

Posted on January 27 2024

$25 million homes sell like hotcakes in Dubai

profile-image
By  Editor
Updated January 27 2024

Listen to this article

Highlights of Dubai’s property market

  • The property consultant Knight Frank LLP reported that Dubai’s property market experienced a significant surge in 2023
  • Since last year, the sales of homes worth $25 million or more doubled in Dubai.
  • The Dubai market is also benefiting from Russian investors, crypto millionaires, and rich Indians buying homes.

 

*Willing to visit Dubai? Y-Axis will guide you in step by step process.

 

Dubai’s property market experienced a significant rise

According to property consultant Knight Frank LLP, homes worth $25 million or double than that is being sold last year after some of the world’s rich people bought homes in the Middle East’s business and tourism center.

 

Looking to visit abroad? Talk to Y-Axis, the world’s no. 1 overseas immigration company.

 

Faisal Durrani, head of Middle East research at Knight Frank stated that the city’s way of life and access to luxury homes contribute to being the top factors. There is also factor of combining global luxury in Dubai, which is assisting to push the domain to a state of crucial mass, which itself has become a new magnet for the global elite.

 

If you found this blog engaging, you may also like…

 

How can you get the Golden Visa of Dubai?

 

Buyers from New location

Durrani also said buyers from new locations like Monaco are now “connecting the capital train to Dubai, with a rising surge of interest from China.

 

The five-bedroom apartment in the Como Residences development was considered as the most expensive transaction in 2023 but yet-to-be built tower on the trunk of Palm Jumeirah. According to Knight Frank, The 2,039 square-meter apartment was sold for $136.2 million.

 

*Willing to Migrate overseas? Y-Axis will guide you in step by step process.

 

New phenomenon in Dubai

The new phenomenon in Dubai is the ultra-luxury sector. In a year, nearly four homes worth $25 million were sold before 2021. Developers are now increasing their portfolio, but the accessibility of supply in the most profitable locations could become more artificial, Durrani said.

 

*Planning to Migrate to UAE? Talk to Y-Axis, the world’s no. 1 overseas immigration company.

 

For more updates on Immigration news, follow Y-Axis news page!

Web Story: $25 million homes sell like hotcakes in Dubai

Tags:

Dubai Sales of $25 Million Homes

Visit Dubai

Share

Options for you by Y-Axis

phone 1

Get it on your Mobile

mail

Get News Alerts

contact 1

Contact Y-Axis

Latest Article

Related Post

Trending Article

Belgium Citizenship

Posted On December 14 2024

Belgium Approves 45,500+ Citizenship Applications in 2024. Apply now!