As record numbers of ultra-high-net-worth (UHNW) individuals entered the country in the past couple of years, the Dubai property market has witnessed unparalleled growth.
Twenty years ago, a mansion on Palm Jumeirah in Dubai could be acquired for around AED 10,000,000. Today, that number is significantly more. Property prices have risen exponentially and show no signs of slowing down – mansions in the city are now some of the most sought-after real estate in the entire Middle East, if not the world.
Entry-Level Mansions (AED 10m – AED 40m)
Homes at this price point represent an opportunity for those looking for the correct entry point into Dubai’s mansion market. Buyers have several options for a home with somewhere in the region of four to six bedrooms. Built-up area can range from 7,500 sq.ft. to 25,000 sq.ft, depending on the community, with most properties in this range found in areas such as Dubai Hills Estate, Jumeirah Islands, Arabian Ranches, and Jumeirah Golf Estates.
As with most mansions in Dubai, privacy comes as standard and most communities feature 24-hour security, top-class local amenities and excellent transport links.
This mansion in Jumeirah Golf Estates, marketed exclusively by Dubai Sotheby’s International Realty and located within the grounds of the world-class JGE Earth course, provides a prime example. Set over 8,000 sq ft, the property offers floor-to-ceiling windows allowing natural sunlight to flood in, is outfitted with top-of-the-range Miele appliances and features custom-made Italian furnishings in each bedroom. At AED 35,000,000, it offers real value for those looking for privacy amidst the hustle and bustle of the city.
Most mansions come complete with open-plan kitchen, swimming pool, and al fresco dining areas – perfect for those Dubai winter evenings when the weather is ideal for hosting. This Al Barari mansion, once again brought to market exclusively by Sotheby’s International Realty, features a private balcony to while away the hours in a good book, access to communal gardens for the children and a sunken patio and shaded area to relax or host in. The property is available for AED27,995,000 and comes with six bedrooms and seven bathrooms across 14,000 sq ft.
Mid-Range Mansions (AED 40m – AED 100m)
As we move into a new price bracket, the homes on offer begin to steadily increase in size and value.
At this price point, many Dubai mansions can be found in areas such as Palm Jumeirah, Dubai Hills Estate and Mohammed Bin Rashid City, although we should consider that location is key in a city such as Dubai. For example, an AED 20,000,000 mansion in one area may well cost twice as much in another location.
Properties situated on the beach are always going to command a higher price, which is why Palm Jumeirah itself is home to so many mansions at this price point. That’s not to say that The Palm – as it is known locally – is the only place where you can find a high-end mansion in this price range. Other areas have their own unique selling points where potential buyers can find value. Sotheby’s International Realty offers this six-bed mansion set across 10,986 sq ft for AED 41,000,000 in Dubai Hills Estate, whilst this mansion on The Palm is available for AED 55,000,000. Both properties furnish their potential buyers with uniquely harmonious living conditions.
Other features which can significantly affect price are bespoke architecture, or if it happens to have a particularly spectacular view. Between AED 40,000,000 and AED 100,000,000, you can expect to find marble fittings, exotic woods, advanced-technology glass and high-quality stainless steel. A mansion with views of the Burj Khalifa, for example, will probably command a higher fee, but even a golf course or a calming lake view will probably fall within this price category.
High-End Mansions (AED 100m +)
Mansions north of AED 100,000,000 will naturally come with more bed and bathrooms, as well as considerably more square footage in general.
So what sets these properties apart from mansions in the previous price points?
First, and possibly most importantly, is location. An exceptional setting is key when it comes to a buyer deciding how much they are willing to pay for a Dubai mansion. Uninterrupted views of the city skyline, or across Palm Jumeirah will understandably elicit a higher price.
Another consideration would be interiors and finishes. Whilst you can expect every mansion in Dubai to come with quality finishes as standard, spending in excess of AED 100,000,000 demands exceptional quality. Unique detailing, one-of-a-kind water features, and rare imported material throughout would be the least one might expect when parting with this sort of money.
Depending on location, properties at this price generally start at 10,000 sq ft plus, with Sotheby’s International Realty offering this tranquil Dubai Hills mansion in Hills Grove – one of the most exclusive neighbourhoods in the city – for AED 250,000,000. The majestic abode is set across 29,000 sq ft and furnishes the buyer with seven bedrooms as well as nine bathrooms, appropriate for a mansion in ‘The Street of Dreams’.
In conclusion, how much a mansion in Dubai costs is down to a few key factors. Location is arguably the biggest consideration, but it isn’t the only one. Plot size is also key, but other things such as interiors and finishes, as well as privacy, security, and prestige, also come into play.
