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Dubai Luxury Homes To Face Price Surge

07.01.23

Accelerated growth in luxury home investments is forecasted in light of stronger global interest in the Dubai market

Considerable investments are expected in Dubai’s high-end luxury residential sector as unit prices are seen to see an increase of 13.5% next year, according to a study by Knight Frank.

The report attributes the growth in the market to sustained interest from ultra-high net-worth individuals seeking an investment for second luxury homes.

“The local luxury residential market continues to attract foreign investors worldwide,” said Dani Tabbara, COO of Al Tamimi Investments.

“The subsequent higher investment inflows will provide more growth opportunities and further boost Dubai’s status as a preferred destination for international property investors.

“Investments will be especially high in premium areas such as the Palm Jumeirah as stated in the latest research,”

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Nasma Luxury Stays, a division of Al Tamimi Investments and a specialist in vacation rentals forecasts accelerated growth in luxury home investments is forecasted in light of stronger global interest in the Dubai market.

According to Nasma, one growth opportunity recognised that property investors can explore is short-term rental market, a highly in-demand segment of the hospitality sector mainly fuelled by staycationers and remote hybrid workers.

Dubai luxury property

“Short-term rentals enable property owners to offer their second homes to those seeking to enjoy all the luxuries associated with a 5-star hotel within a comfortable, warm home environment. Despite their property being leased, the owners will still not lose access to their property during their holiday break or whenever they want to use it,” Tabbara added.

“Amid the global demand, the short-term rental segment is poised to open attractive return on investment for property owners to enjoy. With Nasma as their partner, they can be assured that their properties will be taken care of with utmost care and meticulousness through our holistic solutions and services,” concluded Tabbara.

Source: www.arabianbusiness.com

Image credit: ITP Media Group

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