"Modest luxury" is the new trend among ultra-luxury home buyers in Dubai

Although Dubai initially made it into the world's top thanks to its 5-star chic and record-breaking architecture, it is now also gaining a reputation for its innovation, culture and art. As the market continues to grow at an exponential rate, it is also expanding and Dubai is attracting a more diverse demographic.

The appeal of ostentatious wealth remains and has its place in the market, but there is emerging demand for a more discreet and authentic form of luxury. "Modest luxury" is a growing movement among the wealthy, of which another 4,500 millionaires will move to Dubai this year.

What do the people of Dubai want?
The idea of modest luxury is not new, but is commonly associated with the fashion industry and has been recognized around the world, including in Dubai. While attracting the attention of international tourists remains central to premium brands, Dubai's permanent residents are a key demographic in their own right. And a growing desire for a quieter, more authentic form of wealth is driving their choices. This has been equally driven by the growth of the city's affluent population, which has grown To 67,900 in June 2023, compared to 54,000 in June 2021. Over the past year, the number of searches on Google for the query "modest luxury" grew by a staggering 614%., and inquiries such as "old money" gather more 74,000 search queries per month. Modest luxury has now spread to all aspects of life, including hospitality, architecture and real estate.

A new kind of experience
But it is Dubai's ability to listen to and adapt to market trends that has propelled it to the the forefront of international investment and led to its success as a global economic center. The city has realized the importance of sustainability in the luxury industry, from eco-friendly architecture to a life imbued with intrinsic connections to all infrastructure. Dubai is focusing on adopting eco-friendly practices and a more responsible and harmonious approach to luxury living.

Easy and chic
Modest luxury places a high value on experiences and products that enrich lives on a holistic level. The UAE's attachment to Snapchat illustrates the shift to luxury based on exclusivity and the genuine approval, not ostentatious wealth.. This change has also led to a deeper desire for authentic hospitality characterized by understated sophistication, greater simplicity and emotional satisfaction, and in the global real estate and significant changes. In Dubai, it's a shift from the "gilded" elements of luxury to a more authentic experience, rich in depth and character, not just price.

Logomania
Logo mania will be eradicated in the near future, experts say, and exclusivity and craftsmanship will be prioritized. Although the city is known for its luxury shopping centers and high-end boutiques (as well as the developers' commitment to collaborations with well-known brands), small independent stores offering unique, handmade and ethically sourced goods are also thriving here.
Ultimately, modest luxury clearly favors quality over quantity. Cultural destinations in Dubai have also grown significantly: world-class museums, art galleries and cultural districts celebrate both the city's history and the global art scene. Places such as the Dubai Design District (d3) and the Al Fahidi historic district, provide an insight into Dubai's rich heritage and artistic expression, fostering a deeper understanding of the intellectual and aesthetic aspects of luxury. Dubai's transformation into a city of modest luxury is a testament to its adaptability and vision. As flexible as ever, Dubai is setting new standards for an authentic, sophisticated and refined form of wealth. Despite the fact that the demand for 5-stars hotels will always be, Dubai, while combining sustainability, authenticity and a connection to its traditional luxury culture, continues to resonate with the changing desires of a global audience.