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Dubai Luxury Property Market: Surge in Investments from High Net Worth Individuals
Jul 10, 2024
by Internet
  • Luxury Real Estate
  • Dubai luxury property market
  • investments from high net worth individuals (HNWIs)
  • Dubai real estate market
Abstract : Dubai's luxury property market has shown robust growth in recent years, particularly driven by investments from global high net worth individuals (HNWIs). According to the latest reports, it is expected that HNWIs will invest $4.4 billion in Dubai's real estate market this year, marking a 76% increase from last year. This surge reflects continued strong demand for Dubai's luxury homes and the trend of rising property prices.

According to Knight Frank data, high net worth residents from the Gulf Cooperation Council (GCC) region spend an average of $3.1 million per person on property purchases in Dubai, while the global average expenditure by HNWIs is expected to be as high as $36.5 million. Surveys indicate that participants have an average global net worth of $20 million, whereas in the Gulf region, it is $8 million.

Dubai remains a top choice for investments among HNWIs, a trend that is further bolstered as personal wealth grows. Among those with net assets between $2 million and $5 million, 28% express interest in investing in Dubai properties; in the group with assets exceeding $15 million, this proportion rises to 70%.


The report reveals that 51% of respondents, with net assets between $10 million and $15 million, show extremely high interest in purchasing properties in Dubai. Additionally, 78% of individuals with assets exceeding $15 million plan to invest in this market. Popular areas for buying property in Dubai include Dubai Marina, Downtown Dubai, Business Bay, Dubai South/Expo City, Dubai Canal, Dubai Hills Estate, Jumeirah Palm Island, and Jumeirah Bay Island.

For ultra-high-net-worth individuals, purchasing luxury homes in Dubai serves various purposes such as capital appreciation, second residences, vacation homes, or rental properties. These investments not only diversify their investment portfolios but also reflect long-term confidence in Dubai's real estate market stability.

In recent years, the UAE government has implemented a series of measures to stimulate the real estate market, such as expanding the Golden Visa program and providing residency permits for retirees and remote workers. These initiatives significantly enhance Dubai's attractiveness as a preferred investment destination for global high net worth individuals.


As of last year, Dubai's luxury property market set new sales records, with sales of properties valued over $10 million nearly doubling to $7.6 billion, outperforming London and New York. Early reports from Knight Frank indicate that prices for properties valued over $10 million in Dubai rose by 26% last year, making it one of the fastest-growing markets globally, largely driven by strong demand from overseas buyers for high-end residences.

With growing demand, Dubai's real estate developers are actively launching new projects. For example, Emaar Properties recently announced a $15 billion new development project, The Heights Country Club & Wellness, near Al Maktoum International Airport. This project will feature townhouses and semi-detached villas, equipped with advanced facilities such as a health center, parks, ponds, and green trails, aiming to attract more high net worth individuals and investors.

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