Millionaires from emerging markets are flocking to Dubai! If you’re wondering why… Well, they’re attracted to the lower property prices and promising high growth opportunities in the city. According to the latest annual survey conducted by Knight Frank, Dubai’s residential market registered a record 119,000 home sales. Therefore, totalling almost AED 350 billion in 2023.

This survey revealed the top markets for Dubai property investment by millionaires

Knight Frank’s comprehensive survey consisted of 217 respondents from 11 countries, each with a net worth of $20 million or more. Additionally, the findings reveal that the United States, China, Canada, the United Kingdom, and India are the primary markets from which millionaires are planning to invest in Dubai’s property sector.

So, without further ado, here are the 15 areas in Dubai millionaires are buying homes in:

• 34% – Dubai Marina
• 33% – Downtown Dubai
• 27% – Business Bay
• 20% – Dubai South / Expo City
• 20% – Dubai Canal
• 19% – Dubai Hills Estate
• 16% – Palm Jumeirah
• 15% – Emirates Hills
• 13% – Jumeirah Bay Island
• 9% – Jumeirah Golf Estate
• 9% – The World Islands
• 9% – Al Qudra
• 7% – Tilal Al Gulf
• 7% – MBR City
• 6% – Emaar South / Emaar Valley

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The survey also mentions the top 3 areas for GCC-based millionaires and global ones

When it comes to the GCC-based expats of high net-worth individuals (HNWI) their top 3 consist of Dubai Marina, Business Bay & Downtown Dubai are in 2nd, and Dubai South / Expo City is ranked 3rd. On the other hand, global HNWI prefer Downtown Dubai, Dubai Marina, and Business Bay in that order.

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