Super-expensive real estate sales are growing in Dubai

The demand for properties worth AED 100 million ($27 million) and more is increasingly evident in the Dubai luxury real estate market. The reason for this is a large number of super-stable investors who came to Dubai after the coronavirus epidemic.

According to analytical data, about 100,000 millionaires lived in the UAE in 2022. Most often, wealthy foreign investors are citizens of Europe, East Asia and the Persian Gulf countries.

Experts note that in the period before the coronavirus pandemic, properties worth AED 100 million were sold poorly. The appearance of foreign investors not only helped the development of the luxury real estate market, but also changed the perception of its value. The property for AED 100 million no longer seems exorbitantly expensive, especially against the background of new projects. For example, in the elite residential complex Bugatti Residences, you can find a penthouse worth AED 750 million ($204 million).

According to recent data, more than 66 thousand millionaires live in Dubai. Most often, they choose Downtown Dubai, Palm Jumeirah, and Dubai Hills Estate to buy real estate. All three districts belong to freehold zones, which allow foreigners to buy real estate as property.