At the end of last year, 56 luxury real estate properties worth over $25 million were sold in Dubai for a total amount of $2.27 billion, which is two times more compared to 2022, when 28 such transactions were concluded for a total of $1.24 billion , writes Bloomberg with a link to Knight Frank data.
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Real estate sales
According to the agency, most of the properties are located on the bulk island of Palma – 22 houses were sold there, including a five-room apartment with an area of more than 2000 sq. m in the Como Residence complex, which has not yet been built, “on the trunk” of the Palm for $136.2 million. This was the most expensive deal, writes Bloomberg.
Another 15 properties are located on Jumeirah Bay, an island that has the shape of a seahorse.
Bloomberg writes that buying real estate remains an attractive way to invest for wealthy foreigners, including Russians who are looking to preserve their assets, crypto millionaires, as well as wealthy Indians who are building second homes. homes.
In January 2023, Bloomberg, with a link to Betterhomes data, wrote that at the end of 2022, real estate sales in Dubai increased by 80% over the year thanks to Russians, who became the largest buyers in the local market.