Dubai has solidified its reputation as a top global destination for the wealthy, particularly in the luxury real estate market. Between 2010 and 2023, Dubai recorded 933 property sales worth $10 million or more. This data places Dubai at the forefront of cities with the highest sales of luxury homes, with 431 deals.
In the first quarter of 2024, Dubai continued to see large sales of high-value properties, with a total of 101 deals worth $10 million and above. The Dubai market has also achieved 115 deals exceeding $25 million since 2015, with 12 deals in the first quarter of 2024. Various urban areas in Dubai attracted buyers during this period, with Palm Jumeirah leading the list with 39 deals.
These figures highlight Dubai’s appeal to wealthy individuals and showcase its growth as a desirable location for real estate investment. Dubai currently ranks 21st globally in terms of its wealthy population, and is expected to enter the top 20 list in the near future.
Furthermore, Dubai experienced the second highest net inflow of millionaires globally in 2023, signaling the emirate’s significant progress across various sectors. The city’s aviation sector plays a crucial role in its economic development, with Dubai International Airport being one of the busiest airports in the world.
Overall, Dubai’s attractiveness to the wealthy has increased over the years due to its growing population of millionaires, centimillionaires, and billionaires. This trend underscores Dubai’s status as a key player in the global luxury real estate market and its ongoing appeal to high-net-worth individuals looking to invest in upscale properties within one of
