The prospect of owning a property for sale in Dubai, one of the world’s best cities, attracts many people. Investors and buyers are looking for high-quality real estate, a premium standard of living and a wide range of professional opportunities, and ultimately do not get disappointed.
Thanks to the recent relaxation of visa rules and regulations, the number of expatriates in Dubai is growing rapidly. This has increased the premium housing demand in the city.
AX Capital, a reliable real estate agency in Dubai, offers you to familiarize yourself with the 4 main reasons to purchase luxury housing and why it is profitable to buy it.
Why is now the best time to buy luxury property in Dubai?
Luxury attribute
If you are someone who has always sought to lead an elite lifestyle full of amenities, buying a premium home is what you need. These properties have modern social infrastructure that improves lifestyle. Most residential complexes in the emirate offer various amenities, including: temperature-controlled swimming pools, access to a private beach, fully furnished residences, stunning views of the city or the Persian Gulf, and much more.
Housing boom
Despite the unstable global situation and inflation, the Dubai real estate market is booming. It is growing rapidly. July 2022 was a record month. During this period, there were 7,092 transactions, and the growth was almost 64%. The market indicators in the first half of the year exceeded all expectations. 43,000 deals were registered with a total value of AED 115 billion ($31.3 billion). This marked an increase of 87% compared to the first half of 2021.
These figures show that the market is ripe for investment, and the prospects for the local housing market for the second half of 2022 and the first half of 2023 are positive. Since luxury real estate is the driving force of the market, it is perfect if you are looking for a profitable investment opportunity. Ready-to-move and off-plan projects in Dubai will bring you a high ROI, whether you rent them out or not.
Luxury real estate demand
According to the latest trends, the premium housing segment is going to double its market share this year. Its growth is stimulated by entrepreneurs, rich people and millionaires.
The decline in prices and the COVID-19 pandemic accelerated the demand for elite properties in the fourth quarter of 2020. Investors and end users seized the opportunity and made lots of high-end real estate transactions.
In 2021, the trend of buying premium properties in the emirate continued, as the year was the best in the last decade in deals worth AED 10 million ($2.7 million) and above. Real estate in the Palm Jumeirah accounted for almost 35% of these transactions. After all, this area is home to the most luxurious villas for sale in Dubai.
The impressive success of 2021 has moved into 2022. During the first quarter of 2022, there were 483 transactions worth over AED 10 million. The second quarter also followed suit and showed promising results in the luxury segment. This demand has continued to grow since the beginning of the third quarter. That is why, if you have long planned to purchase luxury property in the city, now is definitely the right time.
A rich choice of housing
When people think of elite real estate, they imagine spacious mansions with nearby amenities. Although there is nothing wrong, an apartment or a penthouse can also be called a luxury property.
Dubai has many residential complexes with ultra-luxury apartments and penthouses worth over AED 10 million. They are furnished, have large living spaces with world-class amenities, premium finishes and luxury items.
If you want to buy luxury flats in Dubai, your choice is not limited to villas and mansions. You can also choose from penthouses, townhouses and apartments, which also belong to the premium category.
We will help you buy apartments for sale in Dubai
2022 was a successful year for the Dubai real estate market, a time of profitable deals for buyers, sellers and investors. According to analysts’ forecasts, the year will have great results. If you are looking for off-plan properties for sale in Dubai, the Ax Capital website presents properties from leading developers at current prices. You can find out the cost of property in Downtown Dubai and other communities in the catalog, or check with a specialist.
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