June 2, 2023

Dubai Week

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Extraordinary acquisition of luxury real estate in Dubai

By J.C. | On 06/28/2021 at 5:36 pm | Updated on 06/28/2021 at 6:43 pm

Dubai, the center of tourism and business in the Middle East, is currently experiencing a strong recovery in real estate sales in the specific luxury goods market, with more than $ 10 million worth of goods.

The market was similar for many due to the health crisis linked to COVID-19, but according to many experts, Dubai recovery should be stronger and faster than in many parts of the world.

For example, in the first 5 months of 2021, Emirates accounted for 22 transactions in villas worth more than $ 10 million, the highest number since 2015, and even an increase compared to the same period in 2020 where 19 transactions were recorded.

La Palm is a very attractive place

On the localization side, these transactions are mainly on Palm, with a total of $ 770 million in transactions. The most expensive villa sold this year on the island created by Knuckle sold for $ 30.3 million. As other major cities such as London have been recording record sales in this particular sector, it should be noted that this revival in the luxury market is being confirmed in other parts of the world as well.

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