Dubai has officially become the busiest luxury real estate market in the world with over AED3.1 billion ($850 million) worth of sales for properties priced at $10 million or higher. The off-plan sector has been performing especially well, with off-plan accounting for roughly 61% of all transactions. Mark Richards, Managing Director of LuxuryProperty.com, discusses the incredible growth of Dubai's off-plan market.
In this episode, we cover:
- Factors driving the off-plan market in 2023
- How the off-plan market has changed in the past 15 years
- How developers stay competitive in a busy market
- What's next for the off-plan market in 2024
- The most interesting projects to keep an eye on
The Luxury Podcast is a production of LuxuryProperty.com.