At the end of the year, the first of the floating villas at The Heart of Europe in Dubai will be ready for occupancy.
What does this type of real estate mean for the Dubai property market?
The Dubai real estate market is diverse and offers the world's best properties, not only fulfilling clients' dreams but also astonishing them with uniqueness, from apartments in high-rise buildings with private pools to luxurious villas. Adding floating villas to the mix further diversifies the market, introducing a new category of real estate and attracting new developers and investors, who, in turn, will cater to a wider range of preferences and attract a broader customer base.
Floating villas are an entirely new type of property in the Dubai real estate market. Innovative and exclusive offerings attract affluent individuals and investors seeking unique and prestigious real estate. Consequently, this can enhance Dubai's reputation as a global hub for elite real estate and may lead to an increase in property prices, especially in areas where these villas are concentrated. The originality and uniqueness of floating villas will create a sense of exclusivity, leading to increased demand and higher return on investment. Delays in the delivery of these properties slightly dampened client interest, but there has always been high demand among international clients who appreciate and understand the project's uniqueness and were willing to wait to be a part of it.
Property owners in close proximity will also benefit by offering short-term and long-term rentals with high yields.
Who will be attracted to this luxurious and exclusive type of property? Island real estate appeals to High Net Worth Individuals (HNWI). These potential buyers often seek prestigious real estate as an investment, vacation homes, or simply as a symbol of their status. Dubai has always been a magnet for millionaires, celebrities, and business magnates who are drawn to the city's cosmopolitan lifestyle, business opportunities, and top-class amenities."