Metropolitan Premium Properties sees Dubai’s super luxury market doubling in Q4

Metropolitan Premium Properties sees Dubai’s super luxury market doubling in Q4

Dubai, United Arab Emirates: Dubai’s super luxury market is expected to double in the last quarter of this year, according to Metropolitan Premium Properties (MPP) a full-service real estate agency and the Metropolitan Group’s flagship property company.

High net worth individuals, entrepreneurs, institutional investors and family property funds are driving demand for villas north of AED 20M resulting in a shortage of available units for both end-users and investors in the market. Over 75% of the buyers are relocating permanently to Dubai as they see the city as a safe and stable place.

Dubai continues to be a magnet for the super wealthy with the city expected to attract over 4,000 HNWIs this year alone an increase of over 208% vs. 2019 according to a report that tracks private wealth and investment migration trends worldwide. The war in Europe and Dubai’s position as a safe and secure destination and the government's business-friendly regulations has contributed to HNWIs and investors relocating or snapping up secondary properties at record levels.

Over the past seven months, MPP has sold many ultra-luxury properties including Sea Mirror, Jumeirah Bay Island (AED 154M), Six Senses Residences, Palm Jumeirah (AED 82M), They Royal Atlantis Resort & Residences, Palm Jumeirah (AED