Tu 28 May 2024

High-Net-Worth Individuals (HNWIs) Set Their Sights on Luxury Homes in Dubai

Dubai, with its glittering skyline, luxurious lifestyle, and forward-thinking infrastructure, has become a hotspot for high-net-worth individuals (HNWIs) seeking prime real estate. In 2023, the city witnessed a surge in interest from wealthy investors worldwide, making it the fourth most active market for luxury home sales globally. Let’s delve into the details of this fascinating trend.

 
Aerial view of Burj Al Arab Jumeirah Island or boat building, Dubai Downtown skyline, United Arab Emirates or UAE. Financial district in urban city. Skyscrapers at sunset.
The Numbers Speak: HNWIs and  Their Preferences

Who Are the Global HNWIs?

The term “high-net-worth individuals” refers to people with substantial financial assets. In this context, we’re talking about those who own a combined net worth of $3.2 billion and individual net worth exceeding $3 million. These HNWIs are not only affluent but also discerning when it comes to choosing their residential havens.

Preferred Locations:

  1. Downtown Dubai: A bustling hub of luxury living, Downtown Dubai tops the list as the favorite spot for global HNWIs. Its iconic Burj Khalifa, world-class shopping, and vibrant lifestyle attract investors.
  2. Palm Jumeirah: Known for its opulent villas and waterfront views, Palm Jumeirah is a paradise for those seeking exclusivity.
  3. Emirates Hills: This prestigious gated community appeals to UK/European and North American HNWIs.
  4. Business Bay: East Asian investors favor Business Bay for its strategic location and modern amenities.

Dubai’s Appeal:

  • Market activity: Dubai ranks fourth globally in luxury home sales, trailing only New York, Los Angeles, and London.
  • Sales Figures: In Q1 2023, Dubai recorded 88 home sales over $10 million, totaling more than Dhs6 billion.
  • Price Trends: The average price for homes above $10 million reached Dhs7,235 per square foot (psf) in Q1 2023, reflecting a 16% increase from the previous year.
    Prime Areas: Palm Jumeirah, Emirates Hills, and Jumeirah Bay Island continue to lead luxury sales.

Why Dubai?
Dubai’s allure lies in its blend of modernity and tradition. Its visionary leadership, tax-free environment, and world-class amenities make it an attractive destination for HNWIs. Whether you’re looking for a penthouse with a view of the Arabian Gulf or an apartment in Aveline Residences in JVC, Dubai has it all.

Investing in Dubai real estate isn’t just about owning property; it’s about being part of a dynamic global community. As the city continues to evolve, so do the opportunities for discerning investors.

Side view of the Aveline Building in radiant sunlight, showcasing modern architecture and captivating interplay of light and shadow on the facade.

(HNWIs) Set Their Sights on Luxury Homes in Dubai

Tu 28 May 2024 Facebook Youtube Whatsapp Linkedin Instagram High-Net-Worth Individuals (HNWIs) Set Their Sights on Luxury Homes in Dubai Dubai, with its glittering skyline, luxurious lifestyle, and forward-thinking infrastructure, has become a hotspot for high-net-worth individuals (HNWIs) seeking prime real estate. In 2023, the city witnessed a surge in interest from wealthy investors worldwide, making it the fourth most active market for luxury home sales globally. Let’s

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CITI Developers: Pioneering Real Estate Innovation in the UAE

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    Aveline Residences at JVC, Dubai, displaying contemporary architecture with palm-lined pathways and a clear blue sky backdrop.
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    Aveline Residences by Citi Developers

    Intentionally designed to foster connections, celebrate community, and embrace convenience, as you step into Aveline, you step into a narrative where every detail forms the foundation for an exceptional residential experience. Nestled in the heart of Dubai, this exquisite development promises a lifestyle where residents can immerse themselves in a world of possibilities.

     

    Unit Mix: Studio, 1, 2 & 3 Bedroom

    Location: Jumeirah Village Circle

    Handover: Q2 2026

    Payment Plan: 50/50 

     

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