In the global real estate market, the hubs of Dubai and New York stand out as prime property markets, among other prominent cities. But when it comes to purchasing property, how do these two cities compare? With the budget of $1 million, prospective buyers face several choices, from high-rises to penthouses and more.
Dubai boasts a vibrant skyline with towering skyscrapers, waterfront properties, branded residences and more. With $1 million, prospective buyers in Dubai can explore various options, from upscale apartments to lavish villas.
New York City is renowned for its iconic skyline and diverse neighborhoods. The city’s real estate market is known for its premium prices, making it a competitive landscape for buyers.
Here is a comparison of what $1 million will get you in Dubai and New York:
La Rosa, Villanova
Price: AED3,600,000 ($980,145)
Features:
- Four bedrooms, five bathrooms
- 3,444 sq. ft.
- In close proximity to 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
Last week, Arabian Business reported that New York still holds the top rank for the world’s most wealthiest city with the highest millionaire population, according to the 2024 World’s Wealthiest Cities Report published 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, topping the charts 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 hubs. While Dubai offers several luxurious options including upscale apartments and villas, New York presents a competitive market with premium prices
Although both markets offer numerous options for investors, experts recommend conducting market research tailored to individual factors such as preferences, purchasing intent, market dynamics and other relevant considerations.
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