According to the Dubai Land Department, demand for real estate in the UAE has increased sharply following the 2021 Covid restrictions. Along with demand, the cost is also increasing – at the beginning of 2023, the average price per square meter increased by about 33 percent.
This is because the authorities are doing their best to promote business development and attract investment into the country. Before searching for a Dubai flat for sale in 2024, it’s essential to consider many factors.
Review of luxury apartments in Dubai
Housing prices largely depend on location. Even though Dubai is a prestigious city, it has particularly expensive areas. Let’s take a closer look at these places and their apartments.
Downtown is the center of Arab tourism. It contains the tallest building in the world, the Burj Khalifa, with a height of 828 meters, the Dubai Mall, the Dubai Fountain, and other unique structures.
The most expensive apartment in Downtown was sold to an unknown buyer for AED 317,000,000. What is known is that it was located in the Burj Khalifa.
Near the Burj Khalifa are two-story apartments of 1100 m², designed by one of the best architects in the world – Tom Wright. The apartment has five bedrooms and six bathrooms. Along the entire perimeter, there are panoramic windows overlooking the city and the coast. Only natural materials – marble and wood – were used in the decoration. The cost of such housing is AED 35,000,000.
The refurbished Address Downtown building boasts one of the largest penthouses in the UAE. On an area of 650 m², there are four bedrooms, six bathrooms, and two maid’s rooms. Residents are offered access to a private elevator, swimming pools, jacuzzi, sauna, and barbecue area. The cost of such housing is AED 35,000,000.
Dubai Marina is a new area under construction around an artificial bay west of the city. It is considered elite thanks to its yacht harbor, one of the largest in the world. Since 2002, private investors have launched active development of the area. Tramlines and the metro were launched. They plan to build another 200 skyscrapers in Dubai Marina, some above 300 meters.
This area also has a five-story penthouse in the La Rive residential complex. Area – 1300 m². The main difference from others is the 360-degree view of Palm Jumeirah. The penthouse has four bedrooms, six bathrooms, and a maid’s and driver’s room. The building is equipped with Smart Home technology and has a gym and a swimming pool. Price starts from 20,000,000 AED.
Cayan Tower is a 72-story building with spacious apartments inside. The tower itself was designed by American architects Skidmore, Owings & Merrill LLP (SOM). They are also the authors of the Burj Khalifa Tower and other famous buildings in the UAE. A distinctive feature of Cayan Tower is that each floor is rotated relative to the bottom by 1.2 degrees. In addition, the building is equipped with 8 elevators, 7 underground floors, and parking for 600 cars. The average price for apartments here is AED 42,000,000.
A commercial area of the city, located south of the center of Dubai, began to be widely developed in 2008. A large selection of premium housing here attracts local representatives of large and medium-sized businesses that can be bought on Ax Capital. The total area of the district is 5,900,000 m².
The most expensive penthouses in the area are located in Habtoor City:
- Four-story premium penthouse: on the ground floor, there is an open living room, above there are bedrooms, a sauna, a swimming pool and a jacuzzi, and a private terrace with access to a landscaped garden; the price of such a penthouse is AED 30,000,000;
- Four-story penthouse of 2700 m²: the area is occupied by seven bedrooms, a lounge bar, a home cinfdubaiema, and a private pool; the kitchen is decorated with granite tables and built-in appliances from leading manufacturers, priced – AED 42,000,000.
The 35-storey Volante Tower features 900 m² apartments with five bedrooms and top-notch designer furnishings. Price – from AED 40,000,000. Large apartments with six bedrooms occupy the entire floor. They provide storage rooms, offices, terraces, laundry rooms, and staff quarters. Panoramic windows offer views of the Burj Khalifa and the promenade.
Palm Jumeirah is an island designed by Nakheel Construction Company. This is the world’s largest artificially created object, resembling the shape of palm leaves. Its geography and location attract media personalities from all over the world.
The most expensive penthouse in Palm Jumeirah is located on the top floor of the Atlantis Royal Resort & Residences hotel. Its cost is almost AED 180,000,000. This three-story penthouse has five bedrooms, six baths, and a private terrace overlooking the Arabian Sea. Area – 2300 m².
The Palme Couture residential complex is located on the island. A two-story penthouse with seven bedrooms and an area of 1,700 m² can be purchased here for AED 65,000,000. And in the elite residential complex Muraba Residences, apartments are sold for AED 25,000,000. You can buy a 600 m² property with panoramic windows and marble staircases for this money. This apartment will have six bedrooms, four bathrooms, an open kitchen, and a maid’s room.