The Dubai market is on the rise and shows strong growth trends. It would seem that buyers with an unlimited budget should be in the most advantageous position. But even here everything is not so simple. In 2022, millionaires and billionaires faced a shortage of exclusive housing offers.
The main buyers of luxury real estate are citizens of the Middle East, Africa, Asia, India and Russia. Already this year, Dubai occupies a leading position in the number of dollar millionaires and their number is rapidly increasing. This ensures the prosperity of the premium real estate sector, as buyers seek to purchase property in prestigious areas of the emirate. The first places among them are occupied by Palm Jumeirah and Emirates Hills. Luxury villas worth several tens of millions of dollars are concentrated here.
Experts note the high investment potential in the villa sector, as the price growth has not yet reached the maximum observed in 2014. The main problem of growing demand remains the level of supply that does not keep up with it. Therefore, every announced ultra-class project finds its buyers on the opening day of sales.
