Three Dubai villas were among the 25 most expensive homes sold last year worldwide. All three of the residences were located on the renowned Palm Jumeirah, which has been the main attraction for foreign buyers of high-end real estate.
Luxury real estate in Dubai saw one of the highest capital value growths last year, at 12.4%, according to Savills. According to Forbes Global Perspective, a Dh600 million mansion on Frond N on the Palm Jumeirah was the third most expensive prime property sold in 2017.
According to Forbes, more foreign purchasers were reported than in 2017 in roughly a third of the areas assessed.
Due in part to the UAE’s new infrastructure, tax and investment opportunities, and economic growth, as well as its dynamic approach to adapting immigration regulations to attract private wealth, capital, and talent, it was stated that foreigners made up about 30% of luxury home buyers in Dubai in 2022.
Internationally, the top 25 list included five South Florida ultra-prime residences, four apiece from Hong Kong and Los Angeles, three from Dubai, London, and New York City. The sum of the 25 sales was Dh9.175 billion, with the US accounting for 56% of the overall amount.