A surge in demand for luxury homes has propelled Dubai to the top spot among the world's most established luxury property hubs for the first time, as the Gulf hub's post-pandemic recovery continues to attract wealthy individuals from around the world, including buyers from Russia.
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Dubai is shrouded in an aura of luxury. Dubai is a magnet for the global elite: with 92 transactions and a total value of $1.7 billion
The city deservedly tops the list in the first quarter of 2023 in the real estate niche worth over 10 million. This cosmopolitan oasis, where futuristic architecture and endless possibilities converge, attracts global tycoons looking for exclusivity and investment security. Symbolizing luxury and innovation, Dubai is a haven for high-end aficionados, actively competing on the global stage with giants such as Hong Kong, New York and London.
Dubai attracts Russian buyers.
They compete for penthouses with double-height ceilings and panoramic sea views, seeking unrivalled luxury in the heart of the city.
💎 The value of sales in the real estate segment 🏘️🌆 over $10 million skyrocketed to an astronomical $3.1 billion in the first half of the year!
This compares to 3.9 billion for the entire previous year. 📈💰 #Dubai #luxury real estate #investment"
Sales of properties priced over $10 million rose to $3.1 billion in the first half of 2023, up from $3.9 billion in all of 2022.
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