With a plush villa sold for AED280 million, Dubai set a new record with highest price tag

The Palm Villas

Dubai is all about glitz, glamour and extravaganza! Dubai is globally renowned for its lavish lifestyle, premium amenities, and sumptuous living all of which have made it the hub for high-net-worth individuals from around the globe. The city is teeming with deluxe properties, suave villas and ostentatious penthouses that punctuate captivating views.

Dubai property prices are increasing again after the global pandemic, backed by strong demand from foreign investors who have been scrutinizing the market in search of the finest, high-end properties. It has led to the luxury villas clusters located in prime areas of Dubai, with one particular villa garnered attention from potential buyers due to its countless amazing features.

The most expensive villa in the country is sold…

In fact, Dubai has just made international headlines for sealing this property deal as a brand-new 10 bedroom ultra-luxury villa in Palm Jumeirah is sold for a record-breaking price of AED280 million.

What will owner get in this high-end villa?

Spread over 33,000 sq. ft. the sprawling custom-designed villa boasts cutting-edge living space, seven-star spa hotel facilities, and imported handpicked Italian marble. The property is adorned by premium Italian furniture houses including Giorgetti and Minotti.

Another distinguishing feature of this ultra-luxury villa is its over 70 metres of exclusive beachfront.

Not just the interiors are impressive but the exterior is equally awe-inspiring with all white walls, and an expansive terrace featuring entertainment and recreational spaces wrapped around a gigantic swimming pool. The palatial waterfront property has its own private beach, manicured lawn, fitness centre and a lot more to give the owner a feel that they are on holiday in a five-star plush hotel.

Dubai luxury property market saw a robust increase in demand…

Dubai’s luxury property sector has been experiencing a boom partly driven by a successful roll-out of vaccination against coronavirus and Expo 2020, which has already come to an end on March 31, 2022. The effect could be seen in 2021 as well, when the property prices increased by an estimated 21 per cent within the first 10 months.

Luxury properties have always been in higher demand and this segment has quickly regained its popularity back after the restrictions on international travelling were softened. A majority of potential wealthy investors from Asia, Europe, and Africa flocked to the city to grab the finest chunk of luxury properties.

Palm Jumeirah has always been the top choice in terms of luxury properties sales deals, with one triplex penthouse sold for AED180 million in 2021.

“To see a transaction of this magnitude illustrates the ongoing strength of Dubai’s property market particularly in the ultra-high-end segment – the transaction not only beats Dubai’s previous record but closes the gap between Dubai’s luxury market and those of leading global cities such as London, New York, and Hong Kong,” Property Monitor’s COO, Zhann Jochinke, said in a statement.

A large number of real estate experts are of the view that the Dubai luxury property market will continue to rebound in 2022. With this transaction and with the launch of new upscale developments and properties, an upward trend will be observed in the Dubai luxury market in the months to come.

If you are searching for a luxury villa or high-end apartment in Dubai, you must contact the team HFRE at +971 4876 2473 or write us your query at info@hfre.ae, as we have vetted every luxury property listing and we can suggest you the best investment options that fit into your budget. Moreover, our sales experts can help you devise a bespoke investment plan and stay by your side until the deal is closed.

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