Dubai is notorious for having one of the most luxurious real estate property markets in the world. With billions of dollars invested in the development of their real estate market each and every year, it should not be surprising that Dubai is filled with very luxurious apartments, villas, penthouses, townhouses, and more.
If you are looking at this market and thinking about which location is best for these luxurious properties then you are in the right place as that’s exactly what we will be discussing in this article. We will be taking a look at three of the most luxurious places you can buy properties in, taking a peek at what makes them so luxurious, seeing what benefits they have, and what the average prices are.
Things to know about luxury Dubai real estate
- Most luxurious properties in Dubai are located in the city center and along the coastline
- The most luxurious property type is villas, but there are also very luxurious apartments and penthouses inside buildings such as the Burj Khalifa
- These luxurious Dubai properties cost tens of millions of dollars if not hundreds of millions
- Palm Jumeirah is the most high-end area to buy in as it is filled with the most luxurious properties in Dubai
What are the most luxurious areas and properties in Dubai
When we are talking about luxury properties in Dubai, there are many to choose from. You will find a very large selection of apartments, penthouses, and villas that are sold for millions of dollars. But these are nothing compared to some properties that have been sold for tens or even hundreds of millions of dollars. These high-end real estates in Dubai with crypto are generally concentrated in city centers and in world-famous complexes such as the Burj Khalifa. Below we will take a look at some of the most luxurious Dubai areas and properties inside these areas.
One of the most well-known landmarks in the world, Palm Jumeirah is a man-made island in Dubai filled with some of the most luxurious real estate in the world. While there are some cheap properties that can be bought for $300,000 – $500,000, most properties on this island are sold for millions of dollars. In fact, the most expensive property sold in Dubai in 2022 is a villa located in Palm Jumeirah. It was purchased by the richest man in India, Mukesh Ambani, who paid an astonishing, AED 598 million, which is equivalent to just over $163 million.
Palm Jumeirah is also known for its majestic hotels and apartment buildings. One of the most well-known buildings in Palm Jumeirah is the Burj Al Arab hotel. If you wish to purchase a luxurious apartment in this building, the average price will be around $5 million, but there are also more expensive apartments and penthouses that are located on the top floors.
All in all, Palm Jumeirah is the most luxurious place in Dubai, filled with luxury villas, hotels, apartments, penthouses, and other property types.
The next luxurious real estate area in Dubai is Dubai Hills, a residential area designed and occupied by mostly foreigners. This is a leasehold area, meaning that instead of buying, people living here are leasing their properties for up to 99 years. Located near Palm Jumeirah in the city center, this is an area filled with residential apartments and villas. It also has a massive 18-hole golf course in the middle of the zone. Developed by Emaar Properties, the largest real estate developer in the UAE, every property here is built with the highest quality and has one of the most luxurious properties in Dubai. In 2022, the most expensive property sold in this area was Grove Mansion, a brand new 7-bedroom mansion with stunning views looking over the golf course, lakes, and downtown. The sale was done privately, and it reportedly sold for AED 128 million, which converted into USD is around $35 million.
When you plan on buying luxury real estate in Dubai with cryptocurrencies, you should also not overlook the apartment complexes in Dubai Hills. Collective 2.0 is one of the well-known and luxurious apartments in Dubai, primarily occupied by millennials. The cheapest apartments in Collective 2.0 cost around AED 1.5 million, or around $400,000, but if you want the most luxurious apartments, it will cost you up to $5-7 million.
While already 12 years old, the Burj Khalifa might not be the most luxurious real estate in Dubai anymore, considering how much money has been invested in the real estate industry in the past few years. Just the name “Burj Khalifa” is enough to give it one of the most luxurious real estate titles. The world’s tallest building opened in 2010, and ever since then, it has occupied the attention of the whole world. Filled with different residential and commercial properties, the Burj Khalifa offers very luxurious apartments to those interested in moving here. Having pretty much anything, and even giving residents direct access to Dubai Mall, you don’t need to leave the building and everything is available for you inside this mega-complex.
While you can find a good number of apartments in the Burj Khalifa that sell for AED 1.2 – 1.5 million, or around $400,000, the most luxurious apartments will set you back around AED 35 million, which is equivalent to $10 million. These prices go even higher if you want to purchase a penthouse, which might cost you double what you would pay for a regular apartment. The most expensive penthouse sold in the Burj Khalifa was in 2021 when a duplex penthouse was sold for AED 105 million, or the equivalent of around $30 million at that time. All in all, the Burj Khalifa is one of the most luxurious places to buy apartments, and it’s all thanks to the high-quality apartments on offer, the location of the building, the astonishing views from higher floors, and its status as the tallest building in the world.
Final thoughts on luxury Dubai real estate
When you are looking for prestige luxury real estate Dubai with crypto, there are many different options to choose from. Dubai has developed residential zones in pretty much every design, so you will always find something fitting your needs. Do you want a super luxury villa, with the coastline at your feet, then Palm Jumeirah is the place to go. Do you want to purchase a luxury villa or an apartment and follow a very social life? Then Dubai Hills will probably be the best choice for you. But buying these properties blindly will be a very big mistake. When you decide to buy high end real estate Dubai with crypto, we would suggest you find a very good real estate agency such as Coin Real Estate that will help you look for a property that will fit your preferences. These agencies will also make sure that the purchase will go smoothly, and they will be doing most of the paperwork and other administrative tasks on your behalf. So if you are looking for luxury apartments in Dubai as an investment or as a living space, both options are justifiable considering the growth of Dubai’s real estate market and the benefits you receive from owning a property in Dubai, especially an expensive one.
Frequently asked questions about luxury Dubai real estate
The most expensive and luxurious house in Dubai is owned by an Indian billionaire, Mukesh Ambani, who purchased a villa in Palm Jumeirah in 2022. Ambani paid around $163 million for this villa and topped his previous purchase, which up until that point, was the most expensive piece of real estate in Dubai.
If you have enough money to justify the investment in Dubai’s real estate market, then purchasing a luxurious apartment might be a good choice. The real estate prices in Dubai rise each year, meaning that your investment is destined to gain value. You can also rent out your apartment to people visiting Dubai, and considering it has become a hub of millionaires and billionaires, the demand will always be there.