The standard of living in Dubai is very high, the crime rate is shallow, and the shopping is outstanding (and mostly tax-free). But what’s happening in the property world will blow your mind.
Dubai is the most luxurious place in the world. Just 50 years ago, it was hard to believe that Dubai was once a tiny town in the middle of the desert, but today, it serves as the luxurious face of the middle east and one of the world’s biggest attractions. I mean, have you seen the Burj Al-Arab Hotel? The crescent-shaped skyscraper was built on a manufactured island.
It owns the world’s tallest building – the one Tom Cruise scaled during Misson Impossible. The Burj Khalifa. There are many over-the-top expensive wonders hidden around Dubai. A record-breaking mansion on the coveted north fronds of Palm Jumeriah has just sold for $72 million on the property front. The boutique luxury real estate agency Belleview Real Estate agency that did the deed is still celebrating.
According to Luxury Lifestyle, “this expansive contemporary white villa features an enormous 33,000sq ft of state-of-the-art living space.” The incredible Palm Jumeirah Villa has ten bedrooms and a hair salon. Oh, and a basement wine cellar and sprawling rooftop terrace overlooking the Atlantis hotel and the Dubai Skyline.
But one of the absolute highlights is it comes with more than 70 meters of private beachfront – what more can you want?
Rohal Kohyar, marketing director of Luxhabitat Sotheby’s International Realty, estimates “that 20 billionaires have bought the property in Dubai this year, and Luxhabitat Sotheby’s International Realty has seen around a 300 per cent increase in business compared with the same period last year.”
Something else is happening in Dubai: people are coming from further afield. Kohyar told Forbes that “most of his clients come from major European countries, like the U.K., Switzerland and Germany.”