Dubai has emerged as a global hotspot for millionaires and billionaires, redefining luxury living. With its dynamic real estate market, innovative developments, and unparalleled lifestyle offerings, the city continues to attract high-net-worth individuals seeking exclusivity, investment potential, and security.
A Booming Luxury Real Estate Market
Dubai’s prime real estate market is thriving, with capital values rising by 6.8% and rental rates surging by a record-breaking 23.5% in 2024, according to Andrew Cummings, Head of Residential at Savills.
“Dubai remains a standout destination for luxury real estate. The city’s population growth and steady influx of high-net-worth individuals have created an unprecedented demand for prime residential properties,” Cummings explained.
Savills has been at the forefront of this boom, brokering Dubai’s most expensive property—a Dh600 million villa on Palm Jumeirah. The city has cemented its position as a global leader in luxury real estate, outperforming traditional markets like New York and London.
“Dubai led in $10 million+ home sales last year, nearly doubling the number of transactions in other major cities. Investors from Singapore, Monaco, and London are drawn by the city’s value proposition,” Cummings added.
Luxury at a Competitive Price
Despite its reputation for opulence, Dubai’s prime real estate remains more affordable than other global luxury hubs. The average price per square foot for prime property is around $930, compared to $3,860 in Hong Kong, $2,590 in New York, and $2,550 in Geneva.
“Millionaires are trading their 1,500 sq. ft. luxury apartments in cities like London for expansive 10,000 sq. ft. villas in Dubai,” Cummings noted. The market is also seeing a rise in ultra-luxury properties, with new developments priced between $50 million and $200 million, and expectations for even higher-end projects in the near future.
An Unmatched Lifestyle and Security
Beyond real estate, Dubai offers an unparalleled lifestyle for the ultra-wealthy.
“Many of my clients tell me how much they love Dubai. They can wear half-a-million-dollar watches, drive extravagant cars, and enjoy a level of safety that’s unmatched in other global cities,” said Cummings.
Developers are pushing the boundaries of luxury, integrating world-class amenities into residential projects. High-end properties now feature branded interiors, state-of-the-art gyms, saunas, sports courts, concierge medical services, and even nannies on call. Some developments even allow residents to bring their supercars up to their private residences.
A Thriving Investment Destination
Dubai’s real estate market is set for continued growth, with prime property prices projected to increase by 8-9.9% in 2025. Rental values have already surpassed their 2016 peak, surging by 23.5% in 2024. Many new residents choose to rent before investing, further driving demand in the rental market.
A Magnet for Global Investors
Ultra-high-net-worth individuals (UHNWIs) are drawn to Dubai not just for its real estate opportunities but also for its world-class infrastructure. With top-tier schools, cutting-edge healthcare facilities, and a strong emphasis on security, the city is a prime destination for global wealth.
“Dubai actively cultivates an environment that attracts and retains the ultra-rich. It’s a place where they can live, invest, and work with ease,” Cummings noted.
While Indian investors have traditionally played a key role in Dubai’s property market, there has been a noticeable uptick in interest from buyers in the UK, France, Spain, Italy, and the Netherlands. With short flight times, business-friendly policies, and the ability to manage global enterprises remotely, Dubai has become a top choice for European investors.
A Global Wealth Hub
Dubai’s strategic location at the crossroads of the world further cements its status as a financial powerhouse.
“The world has never been more connected, and Dubai sits at the very center of that connectivity. The movement of wealth across the globe is at an all-time high, and Dubai has positioned itself as the heart of this financial shift,” said Cummings.
With its perfect blend of luxury, security, investment potential, and lifestyle advantages, Dubai is set to remain the go-to destination for the world’s wealthiest individuals for years to come.