If we are talking about penthouses, a photo of a sun-drenched terrace overlooking the sea, or a wonderful landscape of the city, flashes before our eyes. Perched atop a skyscraper, Dubai's penthouse has always seemed to be the most prestigious. If you would opt for a real estate off-plan in Palm Jumeirah then you will highly likely get the best offer on the market.
The Highest Property Price Growth For Real Estate In Dubai
2022 is not over yet, and experts are already noting that some areas of Dubai are close to 100% growth in value. Sources say certain super-luxury real estate deals are already in the pipeline to help the market move closer to those numbers.
This year, such areas as Emirates Hills, Jumeirah Bay Island, Palm Jumeirah have especially succeeded. From July to the current time, experts note an average increase in the cost of properties in these areas by 29%: in particular, due to the relocation of many wealthy people to Dubai.
Data from the consulting company Knight Frank shows that the Palm Jumeirah artificial island has overcome the threshold of 100% growth in value: since the start of the COVID-19 pandemic in 2020, property prices in the area have already increased by more than 100%. And such statistics allow us to assert that by the end of the year certain areas will definitely pass the indicated mark.
At the same time, developers are not able to meet the demand for luxury real estate due to limited supply. In this regard, this segment of the market is replenished by the owners of real estate, who are trying to modernize their facilities.
A Penthouse In Dubai
Basically, penthouses are a very exclusive real estate in the building due to their location, and they can well emphasize the respectability of their owner. Huge apartments are mainly offered with all kinds of services - jacuzzi, bar, swimming pool, private terrace with a garden.
Penthouses are quite in demand among wealthy investors who want to buy another property in the UAE. Dubai is second in the world after London as the most sought after market for very wealthy investors.
As a rule, in any building there are no more than 2-4 penthouses, thanks to this they are considered a special offer. In addition, some services are provided to the owners of the luxury apartment on the top floor - more parking space, storage room, driver's room and so on. In general, this is always the status and prestige for a resident!
These buildings of the premium category also have a rather special demand. As both local and international investors prefer to buy high-end penthouses, some developers have begun to build structures in which all apartments on any floor are prepared in a penthouse style - for example, the Le Reve project in the Burj Khalifa.
But the clear advantage of these residences in Dubai is the size - although this can be a negative point when it comes to maintenance fee, depending on the area of the premises.
There are many projects in the city that offer penthouses. Prices start from AED 2 million, however, the better the place and the more prestigious the building, the more the price, and this is logical.
How To Profitably Buy A Penthouse In The UAE - The Latest Trends And Techniques
Today, many foreign investors prefer to buy a penthouse in Dubai for a number of advantages:
1. Limited number of offers: On one floor you can build no more than 4, mostly 2 penthouses, moreover, in some cases they are located on two floors. Developers choose to build 8 apartments with several bedrooms, as you can sell them much faster than an expensive real estate in Dubai.
2. In addition, the presence of a penthouse is justified only if the building is located in a prestigious area, and the quality of its construction is at the highest level.
3. Personal taste and preference: consumers of these types of buildings are usually very demanding, for this reason they want to look at a couple or more options at the same time before choosing something, which further increases the demand in the Emirates.
4. Self-actualization or ego: is a strong motivating factor, especially given the unprecedented growth of the wealthy class in the world, and the nouveau riche prefer huge houses, including penthouses in Dubai.
Real Estate In Dubai
Emirates.Estate website has a database of real estate in Dubai that is constantly replenished and updated. With the help of this website, you can easily purchase both an elite apartment in the emirate and a villa on the shore of the Persian Gulf. Visit the website and start your search for a real estate in Dubai today.