[ad_1]
They want their villa ready, they want it now. This is why individual sellers owning premium villas have an advantage over most developers. You can upgrade/customize your property and sell it to the highest bidder.
– Firas Al Msaddi, CEO of fam Properties
This is why selling a Dh100m+ property in Dubai sounds a bit daunting these days. A buyer like Ambani, one of the world’s richest, has made a name for himself in the local property market by acquiring a Dh 280 million home earlier this year in Palm and more recently a Dh 600 million home. is making a profit. Palm. In the meantime, he had another buyer (unidentified) from Alpago Properties who purchased a brand new Palm villa for Dh302.5 million. He’s building his cluster of six ultra-luxury homes at Palm’s Frond G. Row’… ‘429%’ Value Increase It’s not all happening at Palm. Recently, his Dubai Hills mansion was sold for AED 205 million. All is well, but check these details.
The over 42,000-plus-square-foot mansion originally sold for Dh 38.78 million (Dh 913 per square foot) in February. “When a resale took place recently, the same house was sold for Dh 205 million (4,824 psf) in just a few months,” said Al Msaddi. “The seller did a massive bespoke customization and it paid off nicely.”
429 percent toned…
AHS Properties was launched in late 2021 with the specific purpose of carving ‘real value’ from an existing collection of old luxury/ultra-luxury homes in Dubai. Owned by Abbas Sajwani, his AHS recently completed the sale of its first remodeled home, making some nice profits in the process. The company hopes to build a $500 million portfolio by the end of the year, according to its website.
According to one real estate agent, “many owners who sold their vacation homes when the first wave of demand hit in early 2021 missed out on the price increases they would have gotten if they had held off on selling now. You feel it.
“But if it holds up, it will require a significant investment to make their home worthy of a millionaire/billionaire. That’s an upgrade that could reach tens of millions of dirhams. I’m confident enough to bet on.”
Dubai’s luxury home market had a strong run in March 2021, and it certainly continues. At the time, details emerged of a $32.5 million deal for ‘One100 Palm’ on Front N of the Island, complete with a private cinema, private beach and gourmet kitchen.
Multiple sales of over Dh 100 million followed, with Ambani’s purchase of Dh 280 million earlier this summer.
We also have a Jumeirah Bay Island property that is uniquely customized to sell for Dh 350 million. Or will that fix given how demand is playing?
“When the transaction value suddenly escalates to Dh 600 million, it becomes a whole new ball game,” said the real estate agent. “If someone has a luxury villa and wants to sell it, if the seller can turn it into a super luxury home in the shortest possible time, there will be a buyer immediately.”
[ad_2]
Source link
