Luxury home buyers from around the world are increasingly looking to Dubai for their next property purchase. High-net-worth individuals – who typically seek properties in areas that are easily accessible, have a competitive business environment and are secure and safe for their families – are finding that Dubai ticks all the boxes. By the end of 2022, it is expected that around 4,000 high-net-worth individuals will have relocated to the UAE, with Dubai as one of the most popular emirates.

Ryan Mahoney of Dubai, UAE, is an entrepreneur with a focus on the real estate industry and has been at the helm of many successful start-ups based in the UAE, so he understands the benefits of living and working within the region. You can see some of Dubai’s most expensive residential districts listed in the infographic attachment.

Record-Breaking Mansion Sale in Palm Jumeirah

Testament to the buoyancy of the Dubai real estate market is the recent sale of the Casa del Sole mansion in Palm Jumeirah, which achieved a record-breaking price of AED302.5 million, approximately US$82 million. This represents the largest ever luxury property transaction in an area where luxury properties are in increasingly high demand. Casa del Sole is part of a six-villa development; the mansion is still under development but has already been sold, with completion expected in early 2023. The embedded short video looks at what defines a mansion house.

The cheapest of the six villas to be sold reached AED128 million. Casa del Sole, when completed, will offer its new owners no less than 18 bathrooms, eight bedrooms and underground parking for up to 15 vehicles. The property also features its own private bowling alley, gymnasium, jacuzzi and home cinema

You can learn more about living in Palm Jumeirah in the PDF attachment to this post.

Reforms Increase Buyer Confidence

Buyer confidence in Dubai has been increased by a series of reforms, making it easier and more secure than ever to purchase luxury property in the UAE. Overseas buyers now have more transparency and more information at their fingertips, encouraging the purchase of ready-to-move-in properties across the emirate. Investment by global real estate investment funds has also been incentivized by another law, which results in more options for buyers and end users. Liberal visa policies, and in particular the Golden Visa scheme, provide further incentives for high-net-worth buyers and investors.