Dubai’s prime property market has regained stability after price swings in the recent past. In the first nine months last year, prime sales volumes rose by 6 per cent and the total value of prime transactions reached Dh2.27 billion, up 9 per cent from the same period a year earlier, according to Knight Frank’s Wealth Report 2018. While prices for prime property fell 3.3 per cent last year, a slight uptick of 1 per cent is forecast this year and a further strengthening ahead of the World Expo 2020, as large-scale investment in new infrastructure projects is expected to improve the overall market sentiment.
“Dubai’s prime residential market has moved through a number of phases over the past five years,” says Taimur Khan, senior analyst at Knight Frank Middle East.
“Strong price growth was replaced by price falls, but the latest data points to a recovery in demand and the beginning of a new pricing cycle,” he adds.
Naturally, for buyers of luxury homes it is not only space that counts, it is also the right mix of individual design and a certain touch of elegance or opulence. This reduces the choice of luxury homes to a smaller bracket and requires a closer look on what the market has to offer.
“The luxury sector has changed over time in Dubai,” says Anton Yachmenev, managing director of Forum Group, which recently revealed the first villas of its ultra-luxury development, XXII Carat, on the Palm Jumeirah. “There are a lot of high-end developments, but many are interchangeable. Nowadays, discerning buyers from all over the world are looking for individual, stylish and sophisticated luxury.”
Here is an overview of Dubai projects with a strong design-luxury balance.
Sector L, Emirates Hills
Emirates Hills is known for its outstanding and amazingly designed villas, and there is a great choice for everyone’s tastes. Among the most precious properties, we would consider Sector L, overviewing the Montgomerie golf course and designed in an impressive mixture of classic and slightly modern architectural style.
Palme Couture, Palm Jumeirah
Palme Couture is among the most expensive, designer-styled apartment and townhouse complexes on the Palm Jumeirah. It is a collection of just 14 residences on the main trunk; the most expensive has an asking price north of Dh70 million. The interiors have been designed by Massimo Lisotti of Dubai-based design studio Innovate Living, using only exclusive and rare materials. Read More...