Dubai and New York hubs stand out as prime property markets among other prominent cities in the global real estate market. But how do these two cities compare when it comes to buying property? With a budget of $1 million, future buyers face several options, from high-rises to penthouses and more.
Dubai puffs a vibrant skyline with towering skyscrapers, branded residences, waterfront properties, and more. With $1 million, future buyers in Dubai can explore different options, from exclusive apartments to luxurious villas.
New York City is famous for its iconic skyline and various neighborhoods. Its real estate market is known for its premium prices, making it a competitive topography for buyers.
Here is a comparison of what $1 million will obtain you in Dubai and New York:
La Rosa, Villanova
Price: AED3,600,000 ($980,145)
Features:
- Four bedrooms, five bathrooms
- 3,444 sq. ft.
- Near the mosque, school, college, shopping mall, and cycling tracks
- Gated community
- Park access
Bayside, New York
Price: AED 366,5578 ($998,000)
Features:
- 4,000 sq. ft.
- Three bedrooms, one full bath, two half baths
- Family room
- Home office
- Private fence backyard
- Private driveway
- One-car garage
Burj Khalifa, Dubai
Price: AED3,700,000 ($1,007,371)
Features:
- One bedroom, two bathrooms
- Furnished
- 1133 sq. ft.
- Study room
- Swimming pools
- Access to the Burj Club
- Built-in wardrobes
Brooklyn, New York
Price: AED4,389,144 ($1,195,000)
Features:
- Three bedrooms, four bathrooms
- 1,920 sq. ft.
- Mahogany framed double doors
- High ceilings
- Acacia wood flooring
- Direct-vent gas fireplace, granite hearth
- Walk-in closets
- In-ground pool
Also Read: The Charm of Khalifa City Abu Dhabi | Dubai International Real Estate 2024
Last week, Arabian Business conveyed that New York still maintains the top rank for the world’s most affluent city with the highest number of millionaire residents, according to the 2024 World’s Wealthiest Cities Report issued by international wealth migration specialists Henley & Partners in collaboration with global data firm New World Wealth.
Dubai also holds a top spot on the list, with the highest millionaire population in the Middle East and 21st globally, with a growth of 78 percent in the past decade.
The comparison between Dubai and New York showcases the differential real estate landscapes of these two global property junctions. While Dubai offers several luxurious options, including upscale apartments and villas, New York presents a competitive market with premium prices.
Although both markets present numerous options for investors, experts suggest conducting market research tailored to personal factors such as purchasing intent, preferences, market dynamics, and other considerations.
