In the first quarter of this year, sales of high-end homes in Dubai increased by six percent compared to the previous year, according to a report from Knight Frank. Despite this growth, the demand for luxury properties in the emirate remained strong, with a total of 105 homes sold for a combined value of $1.73 billion.
Dubai’s luxury real estate market continues to attract wealthy buyers looking for high-end residential properties. The city’s relatively affordable high-end homes offer value compared to other global cities, making it an attractive option for international buyers as a second home destination.
Palm Jumeirah was the dominant force in the luxury home market during the first quarter, followed closely by Jumeirah Bay Island and Dubai Hills Estate. While these areas continue to attract buyers, new opportunities are emerging in markets like Dubai Hills Estate.
Despite impressive growth rates, Dubai’s luxury real estate market remains one of the most affordable globally. The city’s appeal to international buyers as a second home destination drives demand for luxury properties.
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