UAE Luxury Residential Real Estate Market Size (2024 - 2029)

The UAE luxury residential real estate market is experiencing significant growth, with its market size reflecting a robust expansion trajectory. Despite the initial setbacks due to the Covid-19 pandemic, the market has rebounded strongly, driven by economic reforms and a successful vaccination program. The luxury housing sector has seen a remarkable increase in activity and property prices, particularly in Dubai, where demand from the international elite continues to rise. The post-Expo landscape presents promising opportunities for further growth in the market.

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Market Size of UAE Luxury Residential Real Estate Industry

UAE Luxury Residential Real Estate Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 8.00 %
Market Concentration Medium

Major Players

UAE Luxury Residential Real Estate Market Major Players

*Disclaimer: Major Players sorted in no particular order

UAE Luxury Residential Real Estate Market Analysis

The size of the united arab emirates luxury residential real estate market is USD 13.7 billion current year. It is anticipated to register a CAGR of over 8% during the forecast period.

  • The luxury residential real estate market stopped due to Covid-19, as the government implemented lockdowns and citizens was forced to stay home. Nonetheless, UAE residential property prices were set to continue rising in 2022, driven by supportive economic reforms and an accelerated vaccination program. According to experts, the program helped to hasten a rebound from last year's coronavirus-induced slowdown.
  • The year 2021 saw increased activity in the luxury housing sector as it recorded a 40% price surge compared to the preceding year despite the pandemic challenges. The luxury home market started on a high note with a significant jump in transactions of 30% on a year-on-year basis, as it recorded 4,083 deals in January 2022. The average property prices (per sq ft) also increased by 35.1% during the month.
  • Dubai's luxury residential real estate market is poised to thrive and continue the high momentum in 2022, supported by rising demand and interest from the international elite. Post Expo landscape looks bright for the emirate's luxury home market as it is brimming with new opportunities for buyers and investors.

UAE Luxury Residential Real Estate Industry Segmentation

Luxury residences aim to gives charming and pleasant lifestyle. As a result, many luxury flats provide luxurious facilities. Modern-day luxury homes feature the most beautiful facilities that set them apart from standard or mid-segment residences, such as gorgeous clubhouses, in-house badminton and racquet courts, mini-theatres, arcade rooms, branded gyms, and jacuzzi pools.

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The UAE luxury residential real estate market is segmented by type (apartments, condominiums, villas, and landed houses) and city (Dubai, Abu Dhabi, Sharjah, Al Ain, and other cities). The report offers market size and forecasts for the United Arab Emirates Luxury Residential Real Estate Market in value (USD) for all the above segments.

By Type
Apartments and Condominiums
Villas and Landed Houses
By Cities
Dubai
Abu Dhabi
Sharjah
Al Ain
Other Cities
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UAE Luxury Residential Real Estate Market Size Summary

The UAE luxury residential real estate market is experiencing a robust recovery and growth trajectory, driven by a combination of economic reforms and increased demand from international buyers. The market, which faced challenges due to the Covid-19 pandemic, has rebounded strongly, with significant price surges and increased transaction volumes. Dubai, in particular, is witnessing a surge in interest from the global elite, bolstered by the city's strategic positioning and attractive investment opportunities. The luxury property sector is characterized by high-value transactions, with prime areas such as The Palm Jumeirah and Dubai Hills Estate leading in price appreciation. The market's growth is further supported by the influx of foreign investors, including those from Ukraine and Russia, seeking to capitalize on the emirate's favorable investment climate.

The competitive landscape of the UAE luxury residential real estate market is marked by the presence of major players like Emaar Properties, Dubai Holding, and Nakheel Properties, among others. These companies are actively involved in new project developments and strategic acquisitions, enhancing their portfolios and attracting more investors. The market benefits from relaxed laws for foreign investors and increased infrastructure spending, which are expected to drive further growth. Notable transactions and partnerships, such as those involving Luxury Concierge Real Estate, highlight the sector's dynamic nature and its appeal to high-net-worth individuals globally. As the market continues to evolve, it remains a key destination for luxury real estate investment, offering lucrative opportunities for both local and international investors.

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UAE Luxury Residential Real Estate Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Drivers

      2. 1.2.2 Restraints

      3. 1.2.3 Opportunities

    3. 1.3 Value Chain/Supply Chain Analysis

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Current Economic Scenario and Consumer Sentiment

    6. 1.6 Luxury Residential Real Estate Buying Trends - Socioeconomic and Demogpaphic Insights

    7. 1.7 Government Initatives, Regulatory Aspects for Residential Real Estate Sector

    8. 1.8 Insights on Size of Real Estate Lending and Loan to Value Trends

    9. 1.9 Insights on Interest Rate Regime for General Economy, and Real Estate Lending

    10. 1.10 Insights on Captial Market Penetration and REIT

    11. 1.11 Impact of COVID - 19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Apartments and Condominiums

      2. 2.1.2 Villas and Landed Houses

    2. 2.2 By Cities

      1. 2.2.1 Dubai

      2. 2.2.2 Abu Dhabi

      3. 2.2.3 Sharjah

      4. 2.2.4 Al Ain

      5. 2.2.5 Other Cities

UAE Luxury Residential Real Estate Market Size FAQs

The UAE Luxury Residential Real Estate Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)

Emaar Properties, Dubai Holding, Meraas, Nakheel Properties and Vincitore Realty are the major companies operating in the UAE Luxury Residential Real Estate Market.

UAE Luxury Residential Real Estate Market Report Snapshots

UAE Luxury Residential Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)