The real estate market of Dubai is flourishing with the increasing interest from high net-worth individuals (HNWI). Three villas, located in Palm Jumeirah, have been ranked among the world’s 25 most expensive properties sold in 2022.
Luxury properties in Dubai recorded one of the highest financial growths of 12.4%. Forbes Global Perspective revealed that a villa, worth AED 600 million in Frond N, Palm Jumeirah, was the 3rd most expensive property sold in the world.
Reportedly, the Chairman of Reliance Group and Indian Billionaire, Mukesh Ambani, purchased that villa.
Another villa, worth AED 302.5 million, was the 17th most expensive in the world. It’s built over 28,000 sq. ft. on Frond G row, also called ‘Billionaire Row.’
Villa, built on Frond N, was the 19th most expensive estate sold last year at a price of AED 280 million. It’s built over 33,000 sq. ft. and also features a private beachfront.
The report revealed that foreigners, purchasing luxury homes in Dubai, increased by 30% in 2022 due to UAE’s infrastructural advancement as well as business and investment-friendly environment.
South Florida had five ultra-prime properties, Hong Kong had four, and Los Angeles, Dubai, London, and New York City had three each. The overall value of all 25 sales totaled AED 9.175 trillion, with the United States (US) accounting for 56%.
