Dubai's property market is facing a shortage of luxury apartments, leading to asignificant increase in rental prices for existing properties. Experts, including VladimirMinaev of Metropolitan Premium Properties, explain that only a few truly luxuriousoptions are available, and as high-net-worth individuals (HNWIs) move to Dubai,many choose to rent while they explore the best locations. This scarcity is driving rentalcosts up.A notable example is a Dh4.4 million rental deal for a 10,000 sqft penthouse at TheRoyal Atlantis Resort on Palm Jumeirah, which is believed to be the largest single-unitrental in Dubai's history.Experts also point out that the concept of "luxury" has expanded beyond traditionalopulence to include amenities, lifestyle, and a sense of identity, attracting a diverserange of buyers and renters. The demand for luxury apartments has outpaced supply,especially with limited options for rent, as luxury properties are more often purchasedthan leased. Off-plan properties in this segment are selling quickly, often at a premiumin the secondary market.The luxury segment continues to offer high rental yields of 5-7%, attracting investorsto established areas like Palm Jumeirah, Downtown, and Business Bay, withbranded residences becoming increasingly popular. (ICE DUBAI)

Fonte notizia: https://www.khaleejtimes.com/business/realty/dubai-luxury-apartment-shortage-fuels-sharp-increase-in