Dubai’s property market is becoming the focus of a growing number of investors from around the world.
Investors interested in buying elite properties are looking for suitable options in Dubai. This city is rapidly taking the leading positions in the Middle East both in international trade and in other areas, and its real estate market offers a wide range of elite apartments, penthouses and villas.
The huge popularity of this type of Dubai property is due to its quality, as well as an unrivaled lifestyle that can become available not only to residents of the emirate, but also to investors. The emirate is known not only as an international business center, but also as the center of all the most outstanding. All this makes Dubai very attractive for those who know a lot about beautiful life.
The emirate takes a unique position in comparison with other world destinations, as it is one of the leading tourist, entertainment and shopping centers in the world, attractive for all categories of tourists.
Coming to Dubai, elite real estate is the second thing that catches attention after the skyscrapers. Analysts believe that in the near future this segment of the sector will again attract the attention of buyers and investors. What is so attractive in luxury villas and penthouses?
At first glance, it may seem that Dubai is the abode of luxury, a city which real estate is available only to the richest people in the world. In fact, if you compare prices for real estate in Dubai with prices in other leading cities, you can be very surprised.
The price of luxury
First of all, elite real estate in Dubai surprises pleasantly with its prices. Whether the buyer considers luxury as an object of investment or as a premium home for his own needs, in the emirate the cost per square meter is much lower than in many other recognized markets.
So, according to the company Core Savills, for $ 1 million in Dubai, you can buy an elite housing area of 150 square meters, while in Paris or Singapore – only 78 and 90 square meters respectively. In Monaco and Hong Kong for this amount you can buy only 22 and 23 square meters. On average, premium properties in the emirate are 40% cheaper than in Singapore, and 50% cheaper than in Paris or Moscow. In Shanghai and Tokyo, elite housing is 60-70% more expensive than in Dubai.
The real estate market of the emirate is considered quite mature, but nevertheless, it is a young site, which is characterized by more dramatic dynamics and a greater variety of prices. This can be seen in the cost of objects, and in the cost of rent, and in the level of profitability.
Investing in premium real estate also attracts well-off buyers because of favorable conditions in the market.
In addition, the attention of developers of the emirate at the moment is focused on objects of the middle price category, so that in the upper price segment one can not expect an oversupply of offers that could hit at prices. In other words, companies and owners of elite facilities can not worry about the lack of buyers. And although a large number of investors also invest in commercial premises and hotel real estate, premium housing is also seen as a tempting object of investment.