Strong, resilient and dynamic – these are a few fundamentals that articulate Dubai’s futuristic approach and support its diverse economy. This emirate leads the world in governance, effectiveness, and efficiency by promoting policies that are prepared for the future. That is why, this city is a destination for everything magnificent, extravagant and novel. Being a skills and talent magnet, Dubai gives the city a special pool of talent for every industry, adding to its already multicultural character. Over 200 nationalities call it home, and more than 80% of its citizens are foreigners and it has successfully managed to attract high-net-worth individuals as well – looking for luxury properties.
A majority of real estate experts were optimistic about Dubai’s luxury property sector in 2022 since the beginning of the year. Currently, the city is swarming with a large number of premium properties, opulent villas and ostentatious apartments offering luxury living experience. And backed by strong demand from foreign investors, we also observed a spike in demand and prices for prime properties in Dubai throughout the year.
Prime areas continue their upward trajectory
If you are looking for high-end properties for sale in Dubai complemented with state-of-the-art facilities, world-class interior features and come with mesmerizing views, you must search through the prime areas. Not just the demand but the prices of properties in Dubai tend to continue rising across the luxury sector as several prime areas exhibit record high numbers.
A general sales trend in H1, 2022 indicates that the average prices for affordable properties for sale in Dubai have increased by around 10 per cent while the surge in the upscale areas in H1, 2022 was recorded at around 20 per cent. A majority of wealthy investors preferred Arabian Ranches, Downtown Dubai, Dubai Hills Estate, Palm Jumeirah, and Dubai Marina for investment. On the contrary, people looking for reasonable properties for sale in Dubai have focused on Dubai Silicon Oasis, Business Bay, DAMAC Hills 2, Dubailand, and Jumeirah Village Circle (CVC).
Dubai luxury properties to quench investors’ interest
As it is mentioned above, prime areas have been showing optimal performance due to robust demand for properties for sale in Dubai from international investors. The statistics reveal that things have drastically changed in terms of activity in the real estate market, since global investors have flocked to Dubai and invested in properties here as a hedge against inflation and economic uncertainties.
According to CBRE, a real estate group, the total residential sales in Dubai in the first half of 2022 touched 39,269 – which is the highest since 2009. The prime realty market exhibited stellar performance in the second quarter of 2022 – with the value of transactions reached AED 21.5 billion, up by 28.7 per cent on a year over year basis, according to the data released by the Dubai Land Department.
“Based on its resilience, sustained growth and stellar performance, Dubai real estate sector continue to attract high-net-worth individuals from across the world,” states a sales representative of HFRE.
These individuals have been investing in the priciest properties for sale in Dubai and exploring the market to find more and more. Recently, A 5 bedroom apartment in Dubai sold for whopping AED168 million and in no time, the bar will be raised again.
A new record set for Dubai’s most expensive villa
The title of “Dubai’s most expensive property” has been given to a villa named “Casa Del Sole” – as it is just sold at a record high price of AED 302 million ($82.2 million).
The double Signature Villa is developed by Alpago Properties and is located on the Billionaires’ Row, Frond G at Palm Jumeirah. August showed a record high number of transactions and this sale has broken a previous record of the highest sale price – when a plush villa was sold for AED280 million in Dubai, setting a new record with the highest price tag.
Around 9,450 deals were recorded in Dubai in August 2022 alone – valuing nearly AED24 billion, with sales increasing by more than 65 per cent as compared to July 2022. All these transactions taking place back to back indicate that the Dubai property market has been booming and despite record-high prices, wealthy individuals are ready to buy luxury properties for sale in Dubai.
“This villa is the incarnation of the Alpago Properties vision represented by the three lines of our logo: high ceiling, fewer frames, fewer columns,” said Murat Ayyildiz, Alpago Group chairman.
Salient features
The plush villa has a lot to offer to the potential resident, as it comes with:
- 8 bedrooms
- An underground parking catering to up to 15 cars
- The luxury villa is spread over four levels with a covered area of 28,000 sq. ft.
- A home cinema
- A bowling alley
- A gym
- A hammam
- A sauna
- An infinity pool
- A Jacuzzi
- A game room
The expected date for the completion of construction for this villa is the first quarter of 2023. Casa Del Sole is the fourth of a set of six properties that Alpago Properties has been developing on Billionaires’ Row. The first, Riva Del Lusso, was priced at Dh147m while the second, Serene Versante, was launched with a price of about Dh136m.
Other prime areas to look for luxury properties
The Palm’s Billionaires’ Row is not the only prime area to explore, if you have been looking for ultra-luxury properties for sale in Dubai. The XLV Residence in Emirates Hills was also listed at AED 225 million in June and is the most expensive project in the Emirates Hills so far.
“Through to the end of 2025, just eight new villas are expected to be built in Dubai’s prime residential areas, hinting strongly at continued outperformance of villas at the very top of the market as there is nothing to suggest an easing of the luxury home drought any time soon,” Faisal Durrani, partner and head of Middle East research at Knight Frank, said in June.
According to estate agents in Dubai, the shortage of prime properties in the city has been driving up the prices and it is also true that Dubai is set to have the best-performing prime residential sector in the world. According to a report by Savills, Dubai prime property prices grew by 4.7 per cent in the first half of 2022.
Call us now!
If you are searching for a luxury villa or premium apartment in Dubai, you must contact the team HFRE at +971 4876 2473 or write us your query at info@hfre.ae, as we can suggest you the best investment options in the city. Moreover, our sales experts can also help you devise a bespoke investment plan to reach your dream property.
