Dubai presents a new range of luxurious villas and penthouses priced from $60 million to better than $120 million, including expensive amenities like cinemas, spas, private lifts, and even retractable glass walls that provide spectacular sea views.
Dubai's property market sharply contrasts the global trend of declining prime residential prices. The city has seen record demand, with 435 properties valued at more than $10 million sold last year, outselling locations such as New York and Hong Kong in luxury property sales. Analysts forecast that prices will continue to climb in the next years, with ultra-luxury residences increasing in value by 5 per cent.
The city's manmade islands, such as Billionaire Island, are luring high-end buyers who want their mansions to include private beaches, rotating parking tables and even meandering pools that extend from the bar to the spa.
Internationally, Dubai offers more value for money in luxury real estate, with larger homes at lower prices compared to cities like New York or London.
