The ‘World’s Richest 1%’ Frequent the Palm as well As Other Super-Prime Places.
Property on the Palm Dubai themed by seaside villas in Los Angeles, a five-bedroom 8,600 square feet home is on the N front and it has sold for Dh63 million. This represents one of the bigger deals in Dubai’s property market during the second quarter!
“The house was displayed in immaculate condition, which the buyers appreciated,” said Kunal Singh Gupta, Associate Dean of Luxhabitat International Properties, who represented both the buyer and the seller in the transaction.
The villa’s European buyer is an end-user who recently relocated to Dubai with his family. European purchasers were one of the most active in the first four months, particularly at the upper end of the market.
So far this year, the Palm has seen almost Dh4.6 Billion in sales, including one for Dh280 million, the most expensive residential purchase in Dubai. “Those created in a contemporary way, with a larger narrative and built-up space, as well as mega-mansions featuring glimpses over the beach, golf course, or park (depending on the region) are the most in-demand luxury properties right now,” Gupta said.
“The super-prime villas, apartments and penthouses in Dubai are most popular among the city’s wealthiest residents. They enjoy spending time at their luxurious homes as much they can afford to do so without worrying about security or maintenance concerns.”
It Has Many Features for Luxury Living
The Dh 63 million property is decorated in a modern style with neutral hues. With motorized guillotine windows, the open plan living space is light and airy. Along with a lovely transition to the outside and sea views. This was designed to provide seamless indoor/outdoor living. As well as pocket doors to separate the living and eating areas as necessary.
Minotti, Paola Lenti, Flexform, Poliform, and Poltrona Frau are among the names represented in the furniture. The residence also features an infinity pool with a swim jet and exposure to 3 kilometers of great coastline.
“Due to a limited quantity of diverse products like these and an inflow of buyers. Homes in this class are extremely difficult to come by in Dubai. Right now of luxury property purchasers seeking exactly that type of quality home,” said Gupta of Luxhabitat.