Dubai is the epitome of luxurious living. High-net-worth individuals and affluent families come to the city to see and experience what it has to offer. Known as the glamour hub of the world, the emirate continues to attract the interest of the global elite.
Many people flock to Dubai for several reasons. One of which is to invest in luxury homes. During pre-pandemic days, the demand for luxury housing was strong. While impacted by this pandemic, Dubai’s luxury housing market has proved itself to be resilient.
Recovering demand suggests that the sector may experience significant growth this year compared to 2021. It was last year when the industry recorded a significant price increase of 40 per cent compared to the preceding year.
Furthermore, compared to popular destinations such as London, New York, and Singapore, the prices of luxury homes in the emirate remain relatively affordable. This also helps drive demand.
The buying and selling of luxury properties in Dubai are predicted to be more robust in 2022. As it is, the volume of transactions continues to surge. The market is seen to end 2022 with a more impressive performance than last year.