The World's Hottest Luxury Real Estate Market Is Dubai
Published Date: 14 Jun, 2024
The World's Hottest Luxury Real Estate Market Is Dubai
Building on the record-breaking boom of last year, when transaction levels reached an all-time high, Dubai property like apartments, penthouses, etc. sales kicked off this year at a faster clip.
According to a previous analysis by Mansion Worldwide, Dubai experienced the highest growth in luxury home prices among 30 worldwide cities in 2023, with values rising by 17.4%. But now that price increases are starting to level down, the city is even more appealing to prospective homeowners. Savills, a British real estate business, forecasted that in 2024, housing activity in the United Arab Emirates city will resume its more typical levels, with price rises ranging from 4% to 5.9%.
Even though it has been leading the world in price increases recently, the present pattern is unlikely to last for very long. The market may see a slowdown in growth by the finish of 2024 or the start of 2025, or there may even be a correction in some regions or kinds of real estate, according to Oriol Font, CEO at Luxhabitat.
According to Font, buyers are drawn to Dubai because of its superior lifestyle to that of other nations in the region. "Dubai is poised for growth as a prominent housing destination for high-net-worth individuals," Font stated.
A Luxury Project-At Dubai land's Altissima Al Barari on Sheikh Mohammed Bin Zayed Road
Inspired by the "tree of heaven," or Ailanthus altissima, Altissima is the last and most opulent part of Al Barari, an environmentally conscious development.
There are 23 seven-bedroom villas in the collection, all with at least eight baths. Each house has several amenities inside, like an office, a common area, a hot tub, a gym, a spa, a home theater, two walk-in closets, a childcare room, a driver's room, a maid's room, and a vehicle wash.
"Each property contains three parking spaces, a lawn, and a swimming pool. Sunken seating space, kitchen and bar in the pool house, and BBQ area are all included. An Altissima tree planter is also included with every villa.
Numerous health and wellness amenities are included in the construction, including a 6-kilometer cycle track, jogging trails, sports complex, spa, and library that doubles as an office center. Along with a ton of entertainment options, it has an award-winning organic restaurant, a full-service hairdressing salon, a nail salon, and an outdoor movie theater
Al Asayel Street, Downtown Dubai's Mercedes-Benz Places
This complex, which is tucked away in the center of Dubai, is the first Mercedes-Benz-branded home worldwide. A joint venture between the upscale automobile manufacturer and Emirati real estate developer Binghatti, the project incorporates elements of both companies' creative histories and has a distinct bullet-shaped exterior.
With 150 apartments and penthouses spread across 65 stories, the skyscraper rises 341 meters above the picturesque Dubai Water Canal. The Dubai Mall and the cutting-edge Museum of Tomorrow will be just minutes away for residents. The project provides unimpeded views of the famous Burj Khalifa skyscraper as well.
Each apartment for sale in Dubai has a ceiling height nearly 14 feet, which gives them a feeling of elegance and space. Every apartment has a private pool so that homeowners have a place to unwind inside their houses.
Date: 14 Jun, 2024
