A larger number of high-net-worth property sellers in Dubai are opting not to go the traditional marketing route when selling their homes.

DUBAI, UNITED ARAB EMIRATES, June 28, 2024 /EINPresswire.com/ -- The luxury real estate market in Dubai has witnessed a significant shift in recent years and has rapidly become one of the busiest luxury markets in the world. In Q1 2024, the total value of homes sold at above $10 million saw 6% year-on-year growth, alongside a 19% increase in sales volume. One of the most notable trends shaping the market is a rising segment of private listings for super prime homes. Jason Hayes, the Founder & Chairman of high-end brokerage LuxuryProperty.com, believes this trend is primarily driven by the desire for ultra-high-net-worth individuals (UHNWIs) to have a greater sense of discretion and exclusivity with their properties. Consequently, it has redefined how Dubai’s most expensive homes are marketed and sold.

The Phenomenon of Private Listings

Unlike traditional listings, which are publicly advertised and accessible to a wide audience, private listings offer a more confidential approach that appeals both to buyers and sellers who seek to maintain privacy and avoid public scrutiny.

“The allure of private listings lies in their ability to offer a tailored and discreet transaction process,” according to Hayes. “For buyers, this means access to a curated selection of properties that meet their exacting standards, while sellers benefit from a more controlled and exclusive marketing strategy. This approach not only preserves the privacy of both parties but also enhances the perceived value of the property by limiting its exposure.”

A Rarity of Super Prime Homes

Super prime homes in Dubai are typically characterized by exceptional architecture, singular design specs and bespoke amenities. The scarcity of properties of that level adds to their distinctive allure, but also presents unique challenges for both buyers and sellers.

Given that Dubai is a growing hub for high-net-worth individuals, why are these properties so rare? Hayes suggests that the primary contributors to that are limited availability of prime locations and high construction costs. In most cases, homes that are classed as ‘super prime’ are fully custom-built on exclusive plots of land. Their interiors are fully bespoke and may feature design elements such as custom lighting and flooring, as well as state-of-the-art home automation.

The price tag associated with that design makes it a significant undertaking, with a construction timeline that can span several years. When they do come to market, sellers have the challenge of finding a buyer who can appreciate the unique value of their home. For buyers, the challenge lies in finding a home that ticks the right boxes – this is where the services of an expert real estate professional proves to be invaluable.

Navigating the Complexities of Luxury Real Estate

Dubai’s luxury real estate market has many layers to it and requires a deep understanding of the various factors that influence property values and transaction processes. With a high number of international expats calling the city home, economic and geopolitical matters overseas can have an impact on local buying and selling decisions.

In recent years, the governments of Dubai and the broader United Arab Emirates have been tightening regulations for the marketing and sales of real estate to create a more transparent environment for everyone. This has helped immensely in rooting out unscrupulous property brokers and in giving the most qualified brokers greater visibility in the market.

With the rise of private listings, both sellers and buyers will be looking to work with those brokerages that have a proven track record, an excellent portfolio of listings, and place a high value on discretion.

About LuxuryProperty.com:

LuxuryProperty.com is Dubai’s Luxury Brokerage, connecting local and international clients to the world’s finest homes, comprising an exclusive portfolio of over $6 billion of on- and off-market properties.

Private Client Advisory is at the heart of the firm’s operations, combining market expertise and impeccable service standards to offer clients a seamless experience with an emphasis on professionalism and discretion. The company also offers a bespoke real estate search and acquisition service through its exclusive Private Client Office.

LuxuryProperty.com is dedicated to curating and showcasing the very best in luxury living.

For more information: www.luxuryproperty.com

For more information or details, please contact:

Arpan Ghosh, Communications Manager
T: +971 4 563 5900 | M: +971 52 713 4803
E: arpan@luxuryproperty.com

Arpan Ghosh
LuxuryProperty.com
+971 52 713 4803
arpan@luxuryproperty.com
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