Investors from all over the world are attracted to Dubai real estate market due to a bunch of reasons: favorable taxation, hot climate and high ROI. Investment properties in Damac Hills, Palm Jumeirah and Downtown are being built every year making the choice even more tempting.
Dubai TOP-1 in terms of attractiveness of foreign investment
At the end of 2021, the Crown Prince of Dubai and Chairman of the Dubai Executive Council, Hamdan bin Mohammed bin Rashin Al Maktoum, noted that the emirate topped the list of countries that are most attractive for foreign direct investment.
Sheikh also noted that such rapid growth is due to competent policies that have created a sustainable and stable economy. An attractive ecosystem for business has become an important factor in attracting foreign investment.
Over the past two years, the emirate has demonstrated the impossible: in a situation where the whole world was affected by the negative impact of the COVID-19 pandemic, systematic work to restore the economy allowed the emirate to develop even in the midst of a crisis. And already today, Dubai was able to take first place in terms of attractiveness for foreign investment.
How is renting luxury real estate in Dubai changing
According to experts, the appeal of the luxury real estate industry has expanded to the point where the cost of rent is essentially irrelevant to potential renters. A growing number of rich individuals are willing to spend any amount of money for the chance to rent luxury real estate.
This assertion is supported by recent property lease agreements, each worth at least AED 1 million. The record-breaking deal we reported earlier was no exception: a USD 1.09 million luxury home for rent for 6 months.
At the same time, the luxury real estate market is experiencing a shortage of properties. For example, on the artificial island of Palm Jumeirah, developers are already announcing the emergence of new projects that could satisfy the demand of ultra-wealthy buyers.
Experts also noted other changes in consumer behavior. For many, the fact of the liquidity of such a property as real estate in Dubai is not enough. Many expect not only to secure potential earnings, but also want to be able to periodically live in their own property. And such a desire makes one more criterion for choosing a real estate very important – its quality. But at the same time, buyers are willing to pay really well for quality finishes and materials.
So, while investing in Dubai real estate, please remember that the return from renting out the home is relatively substantial, making the purchase a massively profitable asset.
New projects with luxury real estate in Dubai
Luxury real estate in Dubai is a dream for many. It is perfect for people with exquisite taste to live in as well as for investment to generate a consistent income. Take a look at the most popular luxury developments launched in 2022.
- Cavalli Estates is a prestigious community created by the developer Damac Properties in collaboration with the well-known brand Roberto Cavalli. Located in the elite community of Damac Hills, the project offers a collection of exclusive villas up to 1628 square meters. Residents also expect a host of amenities, from infinity pools to private gardens.
- Raffles The Palm Dubai is a stunning 5-star hotel offering luxury residences for sale. The project is located in the most sophisticated place: on the artificial island of Palm Jumeirah. Buyers are offered two types of residences ranging from 777 to 1097 square meters, which are equipped with private pools, terraces, spas and recreation areas.
- Address Villas is a premium villa housing complex in Dubai Hills Estate. The area of the residences ranges from 921 to 964 square meters, while the area of land varies from 645 to 1004 square meters. The project includes 51 4-storey villas with thoughtful layouts and prestigious amenities.
Real estate agency in Dubai Ax Capital will assist you in locating the greatest homes for investment and residence by collaborating with major developers in the UAE. They will counsel you on all matters of interest and assist you in selecting the most liquid property.