Ultra-wealthy Indians are second to Saudis in buying luxury properties in Dubai: Report
New Delhi [India], May 21 (ANI): Super-rich Indians are second to Saudi High Net Worth Individuals (HNWI) in buying luxury properties in Dubai, according to a report by global property consultancy Knight Frank.
The report adds that British citizens are in third position after Indians in buying luxury properties in Dubai.
Saudi HNWIs have the highest average budget of USD 45.7 million, followed by those from India at USD 44.6 million and UK citizens with USD 30 million, as per the report.
Asian HNWIs have the lowest average budget among Knight Frank's survey respondents; however, this was still a very healthy USD 23 million.
Global real estate investors chose Dubai's Marina area (28 per cent) as their preferred location. Other locations such as Dubai Hills Estate (24 per cent) and Emirates Hills (23 per cent) were the second and third places chosen by wealthy buyers, as per the Knight Frank report.
Observing the trends, Shehzad Jamal, Partner - Strategy & Consultancy, MENA, said, 'For our wealthiest HNWI respondents (net worth > USD 50 million), Dubai Marina (43 per cent) commands the highest interest, demonstrating the enduring appeal of the long-standing poster child of Dubai's property market. For this group of super-rich buyers, Dubai Hills Estate (30 per cent) follows in second place, while Emirates Hills (22 per cent) rounds off the top three likely home purchase locations.'
The 2025 edition of the Destination Dubai report further added that Dubai's residential market experienced another strong year in 2024, with property values rising by 19.1 per cent to an average of United Arab Emirates Dirham (AED) 1,685 per square foot (psf), pushing prices to 13.3 per cent above the 2014 peak.
On average, villa sale prices grew by 19.6 per cent in the 12 months to the end of Q1, reaching AED 2,088 per sf, reflecting a 107.6 per cent uplift on Q1 2020.
This sustained growth illustrates the strong appeal of stand-alone villas, beachfront homes and branded residences that provide instant access to the Dubai lifestyle, the report added. (ANI)
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