Dear valued associates and esteemed clients,
Dubai's real estate market has always been an arena of magnificence and opulence. However, in the post-pandemic period, the market has shifted gears, exhibiting an unprecedented demand for ultra-luxury properties. Properties with ticket purchases exceeding Dh100 million are increasingly becoming a norm rather than an exception, a testament to the strong influx of ultra-high-net-worth individuals into the emirate.
At Real Estate Masters Dubai, we've been keeping a keen eye on these trends and are well-positioned to serve this rapidly growing segment of the market. Our unique insight into the Dubai property market, coupled with our commitment to providing top-tier services, makes us one of the top 10 brokers in Dubai.
Who are the top buyers of these ultra-luxury properties in Dubai? According to industry executives, Europeans, East Asians, and Gulf nationals constitute the majority of these big-ticket property buyers. More specifically, citizens of the UAE, India, China, Saudi Arabia, and the UK are leading the investment wave due to favorable economic and political conditions, high-quality living, and attractive lifestyle options that Dubai offers.
The ultra-luxury property market in Dubai is not just thriving; it's setting global records.
At Knight Frank MENA reports that Dubai recorded 219 deals above the $10 million price point in 2022, positioning the city as the fourth busiest luxury homes market worldwide. In Q1 of 2023 alone, 88 sales were registered in the $10 million+ homes market, indicating that 2023 is shaping up to be another record year for this segment.
The rise in property prices and the increased demand for luxury properties is fueled by the growing number of millionaires in the UAE. By the end of 2022, Dubai was home to 68,600 millionaires, with around 3,500 high-net-worth individuals moving to the city that year.
Moreover, the ultra-luxury property market is becoming more diverse, with new world-class architecture and brands getting involved. This diversity and quality are making properties worth Dh100 million and beyond seem less "incredibly expensive" and more of a norm in the current market landscape.
As your trusted partner in real estate, Real Estate Masters is ready to navigate this dynamic market with you. Whether you're a European or East Asian looking to invest in a $20 million unit or a local buyer seeking a world-class luxury villa, we have the expertise and portfolio to assist you in securing the perfect property.
Ready to take a step into the world of ultra-luxury Dubai real estate? Contact Real Estate Masters today. With our in-depth knowledge of the Dubai property market, we're your key to unlocking the best luxury properties in the city. Remember, with Real Estate Masters; you're not just buying a property; you're investing in a lifestyle. Reach out to us now to begin your journey into the ultra-luxury property market.
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