Dubai’s High-End Property Market Faces 47% Decline

Dubai’s prime residential real estate market, which includes the indefinite prestige of Emirates Hills, Jumeirah Bay Island, Jumeirah Islands, and The Palm Jumeirah, is dramatically changing.

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Faisal Durrani, partner and head of research, MENA at Knight Frank, commented that Dubai remains a hot destination for the super-rich across the world.

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The shifting interest of international HNWIs from flipping for quick resale to a buy-to-hold strategy is one of the defining trends in Dubai’s high-end property market.

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The Dubai prime residential market, although confronted with a shrinking supply, appears very resilient in terms of price performance.

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The Palm Jumeirah has generally been on top, capturing 89.3 percent of home sales as of H1 2024 within the prime residential transactions.

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The Dubai government has continued its initiative in implementing strategic measures against changing market backdrop to keep the sector buoyant.

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