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The luxurious real estate in Dubai is now one of the most promising markets, boosted by elderly British people and investors wishing to find a comfortable haven to spend the rest of their lives and invest. Star hotels have gained prominence due to their uniquely furnished houses with a branded name behind them.
According to industry-leading experts, the interest of people in the British Isles in Dubai is also showing a significant increase, and Dubai is becoming preferable for relocation and property investment. This trend positions Dubai once more as a place to invest in luxury real estate.
Dubai is a smaller luxury real estate market than London, but at a price of about $1 million, one can buy five times more Luxury Properties in Dubai . This is why the current major developers are taking advantage of this scenario by developing only high-level and ultra-luxurious estates with beautiful apartments and penthouses.
At the same time, with a steady demand for luxury products and real estate in their home countries, buyers from overseas continue to stoke Dubai’s prime luxury real estate market. That also goes for many super-prime markets, which grew strongly in 2023 and continue to gush.
The increased development of AI and other advancements is also further propelling the luxury market’s growth. The use of these technologies also helps some developers and real estate consultancies create smart branded homes that incorporate specifications tailored for wealthier consumers.
AI is also making its way into estimating the value of real estate. AI algorithms and IoT systems enable professionals to become better equipped at accurately appraising properties for valuation, much like modern technologies assist Realtors in improving their decision-making regarding advertising and selling homes at higher prices.
Technological advances, such as the early application of AI in various industries, like real estate, have helped Dubai achieve its vision of becoming a center for real estate activities.
