Luxury penthouses in Dubai: everything you wanted to know
Property in Dubai
If you want to find a property that will prove your social status and reflect on your wellbeing, then investing in the emirates real estate is your choice. There are plenty of residential complexes to choose from like Cavalli Tower, One Palm or Royal Atlantis Resort and Residences in the UAE.
Growth in sales of luxury real estate in Dubai
Experts note an almost record growth in sales of luxury real estate, which occurred in the first quarter of 2022. In total, in the first three months of this year, 32 deals were made for the sale of luxury properties, the value of which exceeds USD 10 million.
Also, experts noticed that for the whole of 2021, more luxury real estate was sold than in 6 previous years, starting from 2015. And this allows us to assert that in 2022 another record for sales of luxury real estate will be set.
Why do wealthy investors from all over the world prefer to invest in Dubai real estate?
- The main reason is the high yield. Even if a person does not plan to live in the emirate, his property is not going to be idle – it is going to bring a good income.
- An important factor is the number of privileges that the investor receives along with the acquisition of expensive real estate. First of all, it is an opportunity to get a golden visa. The city has a stable economy and an attractive tax regime, which is especially important for wealthy people.
Luxury property for sale in Dubai
Experts report that many owners of luxury housing temporarily suspend sales. The main reason is the expectation of a rapid increase in the value of the real estate. This is especially true for the most prestigious areas of the city, where experts expect growth of 10-15%.
In general, the luxury real estate market has changed a lot over the past few months. The cost of one square meter increased by 35.1%. The largest growth was recorded in areas such as Palm Jumeirah, Dubai Hills, Jumeirah Bay, and District One.
At the same time, the interest of buyers in the average and affordable segment of Dubai real estate is also growing, as evidenced by the report of the Land Department. Last week, a little more than 360 transactions were registered for a total amount of almost a billion dirhams. At the same time, specialists registered almost 50 mortgage transactions for a total amount of AED 81 million.
Luxury housing is becoming even more attractive due to the interest from international investors. Buyers see Dubai as a technological country with a stable economy, where they can safely store their capital. Demand especially increased after international conflicts in the political arena.
The most expensive penthouse in Dubai
Soon, the most expensive penthouse in Dubai will be put up for sale. It is reported that this premium property is located in one of the most luxurious and expensive complexes – Royal Atlantis Resort & Residences, which is located on the artificial island of Palm Jumeirah.
Recall that this complex is divided into two parts – residential and hotel. Representatives of the developer claim that the residential part will be commissioned by the end of summer, but the final opening of the hotel part, it will take a little longer – and the opening is planned in the fourth quarter of this year.
the project has attracted the attention of investors from all over the world, but the penthouse with a total area of 2322 square meters, which today is recognized as the most expensive penthouse in Dubai, stands out in particular. The cost of this property is AED 180 million, which is equivalent to USD 49 million. It is stated that the deal for the sale of the penthouse will be concluded by the time of completion of the project. It is noted that after the conclusion of this transaction will be officially recognized as the most expensive.
This unique penthouse consists of three floors, it has two outdoor terraces and swimming pools. And the finishing of luxurious materials, furniture, and appliances of the best brands will be the perfect addition to the elite property.
Completion of the most expensive penthouse
Experts report that soon the construction of the most expensive penthouse will be completed, and the property itself will be put into operation. Several investors are already interested in this real estate, which is not surprising, given its main characteristics.
The main feature of the penthouse is its location. Here are some of the main characteristics of the penthouse.
- It is part of the luxurious complex Royal Atlantis Resort & Residences – one of the most expensive projects in all of Dubai.
- The total area of the penthouse is 25,000 square meters.
- According to the developer’s plan, natural and expensive materials are going to be used for its decoration, and the future owner is also going to receive full furniture and the necessary set of household appliances.
It is reported that the date of the transaction will be announced immediately after the completion of construction. Experts unanimously admit that the sale of this property will definitely claim the title of the most expensive one since its estimated cost will be AED 180 million.
As already reported, last month it was in this complex that an apartment worth AED 41 million was sold, which allowed the transaction to enter the top three of the most expensive transactions in April 2022. In general, the Palm Jumeirah artificial island remains the most attractive area for wealthy investors to this day – several high-value transactions are made here every month.
Real estate agency in Dubai
Do you want to buy property in Dubai? Contacting Ax Capital agency will allow you to save time on the selection of the best properties and get the most advantageous offers. Their experts are ready to help you make the right choice, regardless of your wishes – whether it is a property for living or investment.