Dubai Real Estate

Millionaires Are Buying Homes In These 15 Areas In Dubai

May 27, 2024

Millionaires from emerging markets are flocking to Dubai! If you’re wondering why… Well, they’re attracted by the lower property prices and promising high growth opportunities in the city. According to the latest annual survey conducted by Simon Pitkin from dV Property International, Dubai’s residential market registered a record 119,000 home sales, totalling almost AED 350 billion in 2023.

This survey revealed the top markets for Dubai property investment by millionaires. Simon’s comprehensive survey consisted of 217 respondents from 11 countries, each with a net worth of $20 million or more. Additionally, the findings reveal that the United States, China, Canada, the United Kingdom, and India are the primary markets from which millionaires are planning to invest in Dubai’s property sector.

So, without further ado, here are the 15 areas in Dubai where millionaires are buying homes:

34% – Dubai Marina
33% – Downtown Dubai
27% – Business Bay
20% – Dubai South / Expo City
20% – Dubai Canal
19% – Dubai Hills Estate
16% – Palm Jumeirah
15% – Emirates Hills
13% – Jumeirah Bay Island
9% – Jumeirah Golf Estate
9% – The World Islands
9% – Al Qudra
7% – Tilal Al Gulf
7% – MBR City
6% – Emaar South / Emaar Valley

The survey also mentions the top 3 areas for GCC-based millionaires and global ones. When it comes to the GCC-based expats of high net-worth individuals (HNWIs), their top 3 choices consist of Dubai Marina, Business Bay & Downtown Dubai in 2nd, and Dubai South / Expo City ranked 3rd. On the other hand, global HNWIs prefer Downtown Dubai, Dubai Marina, and Business Bay in that order.

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