According To A Study, The Third-Most Expensive Premier Property Sold Last Year Was A Dh600 Million Villa On Frond N In Palm Jumeirah.
The 25 most expensive properties sold worldwide last year included three Dubai properties. The famous Palm Jumeirah, which has been the main draw for foreign buyers of high-end real estate, is where all three of the homes were situated.
According to Savills, Dubai‘s upscale real estate experienced one of the greatest capital value growth rates last year at 12.4%. The third most expensive premier property sold in 2017. That was a Dh600 million villa on Frond N on the Palm Jumeirah, according to Forbes Global Perspective. According to media sources, an Indian billionaire and Reliance Industries chairman Mukesh Ambani purchased the most expensive property in Dubai.
The 17th most expensive home sold worldwide last year was a villa on the Palm that went for Dh302.5 million. Alpago Properties on a 28,000-square-foot tract of land constructed the four-story Casa Del Sole flagship home. It constructed on “Billionaire Row,” also famous as Frond G row.
A custom-built 10-bathroom mansion on Frond N cost Dh280 million. It was the 19th priciest property sold globally in 2017. The modern white villa has luxurious amenities such as imported Italian marble. It offers a vast living space of 33,000 sq. ft. and seven-star spa hotel facilities. Including a gym and hair salon. It also boasts a private beachfront that extends for more than 70 meters.
According to Forbes, more foreign purchasers were reported than in 2017 in roughly a third of the areas assessed. According to the report, by 2022, foreigners will make up about 30% of high-end home buyers in Dubai. This is due to several factors, such as the UAE’s new infrastructure, tax policies, and alternative investments. Dubai’s economic growth and flexible approach to immigration regulations are also attracting private wealth, capital, and talent to the region.
The top 25 list of priciest properties had a diverse range of locations. South Florida had five, while Hong Kong and Los Angeles each had four, and Dubai, London, and New York City each had three. The combined value of these sales was Dh9.175 billion, with the United States accounting for the majority at 56%.