The UAE property market is expected to reach AED 2.6T by the end of next year, based on recent figures from Statista. This growth is largely driven by the interest of high-net-worth individuals (HNWIs), particularly their demand for luxury property investments in the city.
In the first quarter of 2024, Dubai recorded the sale of 105 luxury homes, pushing the city closer to last year’s record of 431 transactions of properties worth over $10 million, surpassing prime markets like New York and London.
With the number of wealthy individuals moving to Dubai projected to increase by 24.6 percent by 2025, the city’s ultra-luxury and broader real estate market are set for further expansion.
Georgina Atkinson, Managing Partner at Origin Private Office, said, “The regional real estate market has continued to grow, with Dubai leading in terms of sales volume and rising prices. In the ultra-prime market, we’ve seen strong demand from both regional and international investors, with many of our ultra-high-net-worth clients from Asia and the UK/Europe choosing to relocate or establish a presence in Dubai.”
“On the consultancy side, we are fortunate to advise developers in the truly ‘ultra-prime’ market segment, of which there are only a few. Our highly skilled team has extensive global experience, having worked on some of the world’s most iconic buildings – we are excited to contribute to bringing outstanding residential developments to Dubai’s dynamic real estate market,” she added.
