Fancy homes in Dubai and Ras Al Khaimah are expected to become more popular in 2024. This is because interest rates might go down, and big builders are adding cool features to their new projects. Homes in projects that haven't been built yet and start at lower prices (around AED1-2 million) are expected to be in high demand.

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Luxury properties in Dubai and Ras Al Khaimah are expected to become more popular in 2024. This is because interest rates might go down, and big builders are adding cool features to their new projects. Homes in projects that haven't been built yet and start at lower prices (around AED1-2 million) are expected to be in high demand.

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Sam Parsons, Property Advisor at dVPI said, "Luxury homes are getting popular, and with lower interest rates coming, more people will want to buy this year. They will look for better ways to pay so that they spend less money overall."

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He also said that 2023 set the stage for more growth this year, and Dubai's low-interest rates compared to other places made more people want luxury homes.

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In 2023, every month, the sales of luxury property averaged AED713 million, with sales going over AED1 billion in January, February, and September. People at other real estate companies expect that more people will want fancy homes in Dubai in 2024, and this is because rich people and international investors like the lifestyle there.

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The UAE offers great value for money for such homes compared to other fancy places. Parsons talked about the good quality of these homes, like nice furniture, great amenities, unique designs, and good addresses, making more people want them.

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dVPI sees a lot of demand in places like Business Bay, Downtown Dubai, Dubai Marina, and Jumeirah Village Circle (JVC). Dubai's stable politics and good tax rules also make it a good place to invest.

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The demand for luxury property is expected to grow more in 2024 due to stable politics, good tax rules, and consistent returns. RAK is attracting good builders, and the arrival of the Wynn resort to Al Marjan Island is a big deal. Fancy living, good views, and great service make RAK better.

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In short, the fancy home market in Dubai and Ras Al Khaimah is expected to grow in 2024 because of lower interest rates, cool features in new projects, and rich people and international investors wanting these homes

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