Growth in purchasing activity in the high-budget segment in 2023. Moscow, Dubai, Cyprus.
In 2023, demand for expensive residential real estate will break records. High interest is noted not only in Moscow, but also in Turkey, the UAE, and Cyprus. Experts told us what the trends among buyers of premium projects in different countries have in common In 2023, demand for premium residential real estate will break records. For example, in Dubai in July alone, the number of sales of lots worth over 10 million dirhams ($2.7 million) almost doubled over the year. in Moscow from January to August, 56% more expensive apartments were sold than during the same period in 2022.
The growth in purchasing activity in the high-budget segment can be explained by the entry into the market of new large projects with their own developed infrastructure in attractive locations. Housing near the water is always in high demand, and this year the trend is also quite pronounced, both in Russia and abroad. In the Russian capital, demand for such housing increased by 20% over the year. It is interesting that even with different geographical locations of the objects, they have a lot in common: from an exclusive location to increased apartment areas. Similar lots are in demand among wealthy clients in both Moscow and Dubai.
What are they buying? 1. Location, location and location The main advantage of the most popular premium projects remains unchanged - location. It assumes exclusively prestigious areas, proximity to cultural and historical monuments. Thus, Trilogy is located almost in the center of Limassol, one of the most popular tourist cities in Cyprus. The Luzhniki Collection project in Khamovniki is surrounded by Vorobyovy Gory, the Luzhniki Olympic Stadium and Moscow State University.
Trilogy Limassol Seafront project in Cyprus 2. Variable layouts In each of the countries studied, customers appreciate the variety of layouts. Thus, in one of the best-selling projects in Turkey, Benesta Acibadem, apartments from 62 to 315 sq. m. are available for purchase. m, while it is possible to combine lots. In the project, the most popular apartments remain with spacious areas - 100 sq. m. m and more.
Benesta Acibadem project in Turkey 3. Life like in five-star hotels The third feature of popular projects is the increased attention of developers to landscaping and infrastructure. There is a growing demand from buyers of high-budget real estate for first-class service from five-star hotels, so developers are striving to diversify the range of services for residents by not only offering round-the-clock service options, but also increasing the comfort and convenience of living. For example, Luzhniki Collection in Moscow offers rich content. The complex has one of the largest private parks in the city, and also offers residents many other infrastructural amenities - from a shopping gallery with restaurants, fitness rooms, children's playrooms to a smart concierge service, home offices, creative spaces and even its own recording studio.
Premium residential complex Luzhniki Collection in Moscow 4. Investments The fourth feature that is most characteristic of the UAE is the high investment attractiveness of premium residential complexes. “Buyers of a villa in one of the flagship developments - Palm Jebel Ali - can expect a potential return of 25% in the first year. A new grand project in the form of a palm tree in the coastal area of Dubai will surpass the size of the popular Palm Jumeirah. The first villas to hit the market were sold out in just a few days. The complex will also house hotels, resorts, beach residences, restaurants, bars and entertainment venues. In addition to the “new palm tree,” the Portoplaya by Ellington project in Ras Al Khaimah (Dubai area) was sold out in a matter of days. High profitability, luxury and convenient location on the first coastline of the best beaches make luxury residential complexes in the UAE extremely attractive to investors, which explains their rapid sales.
Palm Jabel Ali in Dubai Thus, wealthy clients purchasing high-budget real estate around the world can be considered not only focused on their own comfort, which is expected in objects of this level, but also enterprising: the best projects are highly profitable and are a profitable investment. These are the new realities of our days, when the trend for unique product characteristics is gaining momentum. Today, the emphasis is shifting to the exclusivity and uniqueness inherent in piece goods.
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