It’s getting harder to buy luxury homes in Dubai – and prices aren’t the issue
Most luxury home investors are delaying plans to sell in hopes of making bigger gains
Dubai: Is it getting harder to buy luxury homes in Dubai? Yes, but it’s not because of sky-high costs or because there is even a remote possibility of fewer buyers. In fact, as the ongoing demand for high-end properties from high-net-worth individuals consistently keep outpacing the supply of such homes in the Emirate, luxury home listings have been dropping, cites a recent survey.
The number of homes available for sale in Dubai’s prime residential markets – Emirates Hills, Jumeirah Bay Island, Jumeirah Islands and The Palm Jumeirah – has fallen by 47 per cent over the last 12 months to 2,851 properties, according to the latest analysis from global property consultant, Knight Frank.
