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LUXURY REAL ESTATE’S MARKET SHARE IS ANTICIPATED …

Millionaires, high net worth individuals, and businesspeople will fuel market expansion for luxury properties.

Due to a shortage of prime and ultra-prime residential apartments that can accommodate the increased demand from both end-users and international buyers, analysts predict that Dubai’s luxury real estate market will continue to grow in the second half of the year.

High net worth individuals (HNWIs), millionaires, and business owners wishing to migrate or purchase a second home in Dubai have increased demand for prime and ultra-prime homes in Dubai since the beginning of the year, according to industry professionals, analysts, and market experts.

Referring to a recent report, they stated that 4,000 HNWIs are anticipated to move to the UAE this year due to the nation’s success in managing the Covid-19 pandemic, hosting Expo 2020 Dubai successfully, providing excellent connectivity and 100% foreign ownership of businesses, as well as introducing a variety of visa reforms.

They added that the war between Russia and Ukraine is bringing money and investments from the impacted areas to Dubai.