The 2021 year has proven to be extremely lucky for the upscale real estate market of Dubai as more ultra-luxe properties have been sold than any year since 2015. This UAE city observed 22 sales crossing over $10 million in the recent 5 months, as revealed by Bloomberg News. This is even higher than the previous year’s 19 sales. The head of Middle East Research at Knight Frank, explained to the report: “The rebounding of Dubai’s super prime market echoes a wider global trend, signaling the start perhaps of a Roaring Twenties for global real estate.”
The 2015 year was an epitome of the city’s luxurious properties market. But in the following years, the market suffered a blow due to the factors of inferior currency, political disturbances, decreased oil prices and oversupply in Dubai. In 2019, a 25% reduction in prices was observed since the 2015 peak. Similarly, Abu Dhabi also observed a decrease and it tried to uplift the market by permitting foreigners to own property for the first time in 2019.
A warning from Knight Frank was recently issued that the glute in residences might continue to apply a negative effect on the real estate market. Majority of sales above $10 million were actually for homes at the man-made island of Palm Jumeirah. These sales amounted to a total of $770 million. One of these sales was done by Michael Alibhai who purchased a mega mansion. He bought the 14,000 square feet unit in the last year at the cost of AED 33 million. In this year, he sold the property for AED 30.2 million, as reported by Barron’s.
However, many influential developers of Dubai are still struggling. For instance, Meydan and Limitless are reforming debt but ended up delaying. Damac Properties delisted losses and shares.
But not all lucrative properties have been snatched by residents and foreigners because many are available while many are being developed. See the following expensive properties with their specific prices.
Most lucrative townhouses in Dubai
Townhomes are one of the most demanding types of residential property in Dubai. The whole city is scattered with opulent townhouse units. Check out some examples below.
Townhouse in Bluewaters Island: AED 24.9 million
The first unit on the list is situated in the waterfront haven of Bluewaters Island. This Island is home to the world’s tallest ferris wheel. It goes by the name of Ain Dubai which will soon start to welcome visitors.
As for this residence, it is an expansive and dazzling townhome in Bluewaters Island. It comes with 4 fully furnished bedrooms, swimming pool, 4 en-suite bathrooms, 3 parking lots, 2 living rooms, a terrace and more. Displaying a modern style, the unit appears beautiful. It showcases floor to ceiling windows and Scandinavian wooden floors.
If you want to have a taste of an upscale lifestyle on this island, you should consider the townhouse on sale having the starting price of AED 11.9 million.
Fully furnished townhome in Five Palm Jumeirah: AED 19 million
Palm Jumeirah is the next location on this list. It is not surprising as the area is brimming with the most lucrative townhomes in Dubai. This is a 3 bedroom townhouse spread over 7,806 square feet. It is a fully furnished unit which comes with a shared swimming pool, a private garden, gym, a private pool and a jacuzzi. You can enjoy direct access to the beach and benefit from the special discount at the hotel.
Attractive townhome in Palazzo Versace: AED 15 million
This is one of the best 5 star hotels in Dubai. Palazzo Versace boasts an uber chic lifestyle and fully furnished townhomes. This particular unit is definitely going to impress any potential buyer. It is a 3 bedroom property which includes the latest facilities, huge bright rooms and so much more.
There is a master bedroom along with 2 other bedrooms. All rooms are equipped with perfectly designed wardrobes, lucrative Versace branded services and comfy beds. You can also find a maid’s room, a kitchen, powder room, laundry and a dining room with a 10 seat table.
Most expensive penthouses in Dubai
Upscale penthouse in Amna, Habtoor City in Business Bay: AED 205.2 million
Comfort is guaranteed in this luxurious penthouse which fulfills the needs of stellar views and exquisite interiors. There are 4 floors to this beauty. The first floor boasts an open lifestyle which offers a peaceful flow between various spaces, whether it’s 3 garden terraces or en-suite bedrooms. The inside of the property is made with natural materials. Throughout all the designs, there is a beautiful combination of wood grain, oak timber and lush marbles. This penthouse also offers a gourmet kitchen, staff quarters, steam room, home cinema, sauna and a private lift facility.
Spacious penthouse in Noora, Al Habtoor City in Business Bay: AED 120 million
This penthouse will offer you a distinct taste of opulence in the high end Business Bay community. It boasts intricate interior and wide glass walls which opens the views of the attractive Dubai skyline. The property covers 29,325 square feet. It includes a charming pool terrace, game room, a family dining room, home cinema and bar lounge. The well-appointed kitchen comes with built-in appliances and granite countertops. It’s cost is high because it’s location is in the middle of hustle bustle, offers excellent facilities and breathtaking views.
Penthouse in Palm Jumeirah: AED 100 million
This is a two floor penthouse which maximizes elegance, comfort and opulence. It’s located in the Palme Couture Residences of the location and covers 17,900 square feet. There are 7 spacious bedrooms. The residents can enjoy views of the New Dubai Skyline and Arabian Gulf.
There are 14 furnished apartments in this location which come with premium interiors, built-in appliances from expensive brands and fittings. It is truly exquisite and leaves no need unsatisfied. The lucky buyer will get floor to ceiling windows, lush gardens and private gyms.