DUBAI | 5 MINUTE READ
THE RISE IN SUPER-PRIME HOME SALES AND THE ANTICIPATED SUCCESS OF ACCOUTER’S FUTURE DUBAI PROJECTS
As the research from Knight Frank’s wealth report shows that super-prime property has boomed in the last 5 years, with Dubai standing at the top of the prime city list.
Read on to learn more about how these statistics affect our studio, as well as more information on our projects that are well on their way in one of the worlds most sought-after locations...
THE WEALTH REPORT’S FINDINGS
Our key take-aways from the June edition of the Wealth Report, was that global super-prime residential sales had bounced back in the first quarter of 2023, with 417 sales across the 12 markets. This shows an increase of 11% on the 376 recorded in Q4 2022 and the highest volume since Q2 last year.
In terms of location, Dubai has established itself as a prominent player in the global super-prime residential market. In the first quarter of 2023, Dubai outshined other major cities by recording an impressive 88 sales, solidifying its position as the market leader in terms of volume. Hong Kong followed closely with 67 sales, while New York, Los Angeles, Singapore, and London also demonstrated noteworthy sales figures. Although the number of sales witnessed an 11% increase compared to the previous quarter, the overall value of sales experienced a 4% decline, amounting to $7.2 billion.
Dubai's ascent to prominence is clearly evident, as its share of super-prime sales has witnessed a remarkable growth trajectory. In 2019, Dubai accounted for a mere 2% of the market, but in the most recent twelve months, it has surged to an impressive 17%, surpassing even London's 14% share. This significant rise in Dubai's market presence underscores its increasing appeal and desirability among discerning buyers in the super-prime segment.
HOW DOES THIS AFFECT ACCOUTER?
The recent data highlighting Dubai's significant presence in the global super-prime residential market has a profound impact on Accouter, as a British Interior Design Studio operating in Dubai's super-prime sector. With Dubai's growing prominence and increased sales volume, Accouter finds are at the forefront of an elevated market. The surge in demand for super-prime properties presents a unique opportunity for Accouter to showcase our expertise and design capabilities, allowing our studio to take their services to another level.
As Dubai continues to attract high-net-worth individuals seeking luxury residences, Accouter's presence and specialisation in the super-prime sector position us favourably to cater to the evolving tastes and demands of this discerning clientele, ultimately bolstering their reputation and expanding their business opportunities in this thriving market.
SABRINA ON OUR NEW DUBAI PROJECTS
“The property market is booming here in Dubai and the city is busier than ever.
From working on the show apartment at the world renowned Atlantis the Royal Residence which has been such a pleasure to be a part of. Being a British Design collective, we feel we’re able to bring a new approach to the interior’s world in Dubai.
We have a number of new projects in our pipeline which we are very excited about. Watch this space to find out more about what we’re working on.”
-Sabrina Mehra, Associate Director
To find out more about prime interiors in London, read this article by A.LONDON, another brand from our interior design collective.