Over the first three months, cash-ready purchasers from the UAE and outside purchased slightly over 30 $10 million properties in Dubai, setting the stage for another record year for ‘super-prime’ residential sales in the city. There were 93 of these $10 million and over sales in 2021. (including quite a few in the Dh100 million range).
“The total number of $10 million properties sold in 2021 was higher than the total number of $10 million residences sold in Dubai from 2015 to 20,” said Faisal Durrani, Head of Middle East Research at Knight Frank, a UK consultancy. “Based on the year-to-date sales of these super-prime residences, 2022 sales will be equivalent to or near to 2021 sales.”
“In fact, the year-to-date data show an out-performance — despite the fact that 2021 had set a very high standard.”
It certainly appears so, with a property on the Palm selling for Dh280 million in recent weeks – the most expensive home sale to date – and a Dh180 million penthouse attracting a lot of interest.
