{"id":246210,"date":"2023-07-08T20:00:33","date_gmt":"2023-07-08T20:00:33","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=246210"},"modified":"2023-07-08T18:35:19","modified_gmt":"2023-07-08T18:35:19","slug":"dubai-leads-global-10m-housing-market-in-h1-2023","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/dubai-leads-global-10m-housing-market-in-h1-2023\/","title":{"rendered":"Dubai Leads Global $10m+ Housing Market in H1 2023"},"content":{"rendered":"<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bnreport.com\/en\/\"><strong>\u00a0BNR<\/strong> <\/a>&#8211; With 176 luxurious house sales in H1\u00a02023, Dubai ranks as the globe\u2019s hottest $10m+\u00a0market.<\/p>\n<p style=\"text-align: justify;\">According to the most recent <a href=\"https:\/\/www.knightfrank.com\/\">Knight Frank<\/a> survey, excellent neighbourhoods predominate sales. They represent 63% of deals over $10m or more. Also, the standard sale price is $16.5m. Palm Jumeirah and Emirates Hills are two examples of excellent neighbourhoods.<\/p>\n<p style=\"text-align: justify;\">In H1\u00a02023, 176 $10m\u00a0houses were sold. Faisal Durrani, Head of Middle East Research, stated that with these purchases, Dubai\u00a0has already surpassed 79% of the overall amount of $10m luxurious\u00a0houses sold in 2022.<\/p>\n<p style=\"text-align: justify;\">\u201c[Dubai] continues to offer relatively affordable access to luxury living,\u201d he explained.<\/p>\n<h4 style=\"text-align: left;\"><strong>Rising Demand Drives Dubai Property Values<\/strong><\/h4>\n<p style=\"text-align: justify;\">The increasing number of luxury house sales has exerted a substantial influence on city real estate values. The yearly rate of rise in the cost of apartments hit 15% by the end of June 2023. Also, villa prices increased by an astounding 46%.<\/p>\n<p style=\"text-align: justify;\">According to Knight Frank, buyer profiles and tastes are becoming increasingly diverse. This is happening as Chinese overseas buyers re-emerge in the city\u2019s residential scene.<\/p>\n<p style=\"text-align: justify;\">According to <a href=\"https:\/\/www.linkedin.com\/in\/ancummings\/?originalSubdomain=ae\">Andrew Cummings<\/a>, Partner &#8211; Head of Prime Residential, the resale market for luxurious houses continues to be strong. Indeed, it is motivated by the several tastes of Dubai inhabitants who want usefulness and a feeling of presence in the city.<\/p>\n<p style=\"text-align: justify;\">\u201cAn impressive 66 per cent of buyers intend to personally utilize the properties, further attesting to the significance of this trend,\u201d said Cummings.<\/p>\n<p style=\"text-align: justify;\">He also stated that there is a noticeable increase in enthusiasm for extravagant branded mansions in the world of off-plan constructions. He said that it is driven by sales that are unprecedented and incredible sell-out performances.<\/p>\n<p style=\"text-align: justify;\">\u201cThese market dynamics underline the compelling allure and enduring desirability of such properties,\u201d he added. Furthermore, it strengthens their status as sought-after properties in Dubai\u2019s prestigious property environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0BNR &#8211; With 176 luxurious house sales in H1\u00a02023, Dubai ranks as the globe\u2019s hottest $10m+\u00a0market. According to the most recent Knight Frank survey, excellent neighbourhoods predominate sales. They represent 63% of deals over $10m or more. Also, the standard sale price is $16.5m. Palm Jumeirah and Emirates Hills are two examples of excellent neighbourhoods. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":246211,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[855,278,11946,11945,3031],"class_list":["post-246210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-dubai","tag-featured","tag-housing-market","tag-property","tag-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dubai Leads Global $10m+ Housing Market in H1 2023 - Business News Report<\/title>\n<meta name=\"description\" content=\"With 176 luxurious house sales in H1\u00a02023, Dubai ranks as the globe\u2019s hottest $10m+\u00a0market, according to the most recent Knight Frank survey.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/dubai-leads-global-10m-housing-market-in-h1-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai Leads Global $10m+ Housing Market in H1 2023 - 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