Tuesday, 02 January 2024 12:17 GMT

Dubai Luxury Homebuyers Shift Focus To Privacy, Waterfront Living And Ready Properties


(MENAFN- Khaleej Times) Dubai's wealthiest homebuyers and tenants are becoming more selective about where they put their money, with privacy, exclusivity, waterfront living and long-term value increasingly shaping demand in the city luxury property market, according to Bayut.

The shift comes as Dubai continues to record high value sales and rental deals. Recent transactions cited by Bayut include a Dh17 million annual mansion lease in Emirates Hills and the sale of a property on Palm Jebel Ali for Dh34 million.

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Bayut's H1 2026 market data showed Palm Jumeirah remained among the most searched communities for ultra luxury apartments and villas, while Bluewaters Island, Emirates Hills, District One, Jumeirah Bay Island and Al Barari continued to attract buyers and tenants.

Buyers look for limited supply

Abdullah AlAjaji CEO of Driven Forbes Global Properties, said selectivity has become increasingly important, particularly in communities where future supply is limited.

He pointed to Emirates Hills as an example, where limited availability is supporting demand for individual properties.

Demand is also increasingly focused on homes that buyers can use or generate returns from relatively quickly.

Marcus Andersson, Head of Sales at penthouse, the luxury division of Metropolitan Premium Properties, said the market is seeing strong momentum in the secondary segment, with buyers focusing on ready properties and off-plan developments expected to be handed over within six months.

He said the trend reflects demand for high-quality tangible assets that can provide near-term occupancy or investment returns.

Lifestyle becomes a bigger factor

Location is no longer the only consideration for ultra-luxury buyers.

Privacy, limited inventory, architectural quality, branded residences, waterfront access and wellness amenities are increasingly influencing purchasing and rental decisions.

Fibha Ahmed VP of Property Sales at Bayut and dubizzle, said buyers and tenants are placing greater emphasis on the overall lifestyle offered by a property.

She said demand is increasingly being shaped by exclusivity, privacy, high-end amenities and communities that provide a complete living experience.

Al Barari returns top 6%

Bayut data showed Al Barari recorded returns of 6.48 per cent for ultra-luxury apartments and 6.37 per cent for ultra-luxury villas, alongside price growth.

Demand for high end rentals is also growing, with some wealthy residents choosing to rent before buying or opting for luxury homes that meet their changing lifestyle requirements without committing to ownership.

Bayut said high net-worth buyers are increasingly looking at quality, community, location and long-term value rather than simply choosing the most expensive property available.

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