Dubai has always been a magnet for high-net-worth individuals, and now more-than-ever millionaires are flocking to the country. In 2024 Allsopp & Allsopp saw an unprecedented influx of investors to Dubai which has led to the luxury property market feeling the impact. In July 2023 Dubai data predicted that 6,700 millionaires would relocate to the country by the end of 2024, and when we reflect on our Allsopp & Allsopp data we’ve seen a clear trend emerging. A Booming Luxury Segment Demand for luxury and ultra-luxury properties has surged with a 41% increase in the amount of transactions for residences valued above AED 5 million. To put that into perspective, when converted to GBP it’s the equivalent of just over GBP 1 million. As more wealthy millionaires settle in Dubai, properties priced over AED 25 million have also seen notable transaction spikes with Allsopp & Allsopp recording a 46% increase in 2024. Why are UK Millionaires Moving to Dubai? There are clear differences between the UK and Dubai in terms of appeal for successful individuals. The UK is increasing taxes on wealthy residents, while Dubai is doing the opposite— actively attracting top talent and investors through tax incentives, golden visas,...

The Bayut Awards are one of the most prestigious events in the Dubai real estate industry, recognising excellence and outstanding performance among the city’s top brokerages and agents. This year, Allsopp & Allsopp made a statement by securing two of the most coveted awards, solidifying our reputation as market leaders. Tru-Check Champions: Leading with Transparency & Availability Allsopp & Allsopp proudly took home the Tru-Check Champions award, recognising our commitment to providing the highest number of checked and available properties on the market. In a competitive industry where accuracy and availability are crucial for buyers, sellers, landlords, and tenants, our team consistently ensures that listings are up-to-date and readily accessible. This award reflects our commitment to ensuring transparency and accuracy in the market. Darren Murphy Crowned Bayut Big Broker A special congratulations goes out to Darren Murphy, Partner at Allsopp & Allsopp, for being named Bayut Big Broker—factually making him the top agent in Dubai. With an exceptional track record of sales, unmatched market knowledge, and a relentless work ethic, Darren has set the benchmark for success in Dubai real estate. His ability to navigate the ever-evolving market and provide an unparalleled service has earned him this elite recognition. A...