Interest in Dubai property has been maintained steadily for many years. Dubai attracts a large number of tourists, business tourists, migrants, foreign specialists and real estate buyers every year. There are not only end users among them, but also investors who rely on stable rental income, which, in turn, is determined by the constant growth in demand from a large number of expatriates and tourists.
The potential of the Dubai property market is huge. The city is a demanded area, where representatives of more than 200 nationalities invest. Today, this is a mature enough platform with a high level of transparency of transactions and state control. An important role is played by preparations for the World Expo 2020 exhibition, within which Dubai’s infrastructure is actively developing.
According to a study by New Worth Wealth, in 2017 about 5000 people whose fortune exceeds $ 1 million, migrated to the UAE and mainly to Dubai. Thus, the cost of personal status in the UAE increased by 10%, and over the past decade, the increase was 60 %.
Analysts at Knight Frank also report that in the past decade in the whole of the Middle East region, a significant increase in the number of high-income people with assets of at least $ 30 million has been noted. Between 2006 and 2016, the number of them in the Middle East increased by 48% and reached marks in 7 370 people.
At the same time, more than 1,500 of them live in the United Arab Emirates.
As for Dubai itself, it ranks 16th in the City Wealth Index of Knight Frank, which assesses the financial situation of cities around the world. To do this, the analysts of the company use four main criteria – the achieved property status, the forecasted property position, the amount of investments attracted to the city and the degree of development of the transport infrastructure.
According to the latest criterion, Dubai is rated the most highly. Analysts Knight Frank called the emirate a transport hub of global importance, because in just 8 hours of flight from Dubai, you can reach up to 75% of destinations around the globe.
All these factors, combined with a high standard of living of the population, ease of doing business and a loyal system of taxation, cause the interest of the world elite in Dubai as a foreign investment market and the conduct on its territory of commercial activities of all kinds.