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High net worth individuals still consider Dubai the number one destination for property investment.
Dubai is seeing strong demand for luxury properties especially from international buyers primarily from the CIS, the UK and other parts of Europe including France, Germany and Austria. This is a good example of the fact that high net worth individuals still consider Dubai the number one destination for property investment.
Several luxury penthouses have been transacted in the emirate recently. All of them are located on the Palm Jumeirah.
One of these units is situated in Atlantis The Royal Resort & Residence. The 8,300 square feet property offers uninterrupted views of the Palm, features four bedrooms and has its own swimming pool. It was sold to a European national for USD 17.4 million.
The penthouse sold is the second most expensive property in Atlantis The Royal Resort & Residences. And the most expensive one is the top-floor five-bedroom penthouse triplex, which is currently on sale for USD 49 million.
Atlantis The Royal Resort & Residences is located on the crescent of The Palm and is made up of 231 luxury apartments, 693 hotel rooms and 102 suites.
Three other most expensive penthouses in the region sold lately are located at the company’s One at Palm Jumeirah, Dorchester Collection development. Their combined value stands at over USD 70 million.
The second and third most expensive penthouses were sold in Dubai for USD 23 million this year, and for USD 19 million in 2019.
According to the Dubai Land Department's data, in the third quarter of this year, the emirate's prime residential market saw 4,827 apartments and 506 villas change hands. Combined, they were worth USD 4.3 billion, a slight 3.67 percent drop from the second quarter.
