Prices for luxury real estate in Dubai start from 75 million dirhams

The most popular topic for discussion in the real estate sector in 2021 was the exponential growth of the luxury housing market in Dubai. Knight Frank previously reported that in the ultra-premium segment, the number of homes sold for more than $ 10 million broke the annual record set back in 2015. Palm, Emirates Hills and Jumeirah Bay accounted for more than three-quarters of ultra-premium sales in the city. Relatively recently, a new layer of real estate worth more than 75 million dirhams ($20 million or more) has appeared.

In the luxury real estate market, prices are growing at a rapid pace, and in some areas prices are even doubling. One such example is Jumeirah Bay. The plot, put up for sale just a year ago for 35 million dirhams, was recently sold for 80 million dirhams, indicating a 130 percent increase in just 12 months.

In Jumeirah Bay, which is rapidly becoming a billionaire's neighborhood, luxurious modern complexes began to appear, consisting of 18 villas on the most exclusive island of Dubai.