According to a latest report by a global realty firm, the Ultra-rich high-net-worth individuals (HNWIs) continue to prefer Dubai when it comes to property investment in premium luxury properties. The report says that more than 38, 000 millionaires have shifted into Dubai over the last two decades making it a realty hotspot.
“Dubai is currently home to approximately 55, 000 millionaires and 33, 000 HNWIs who are based in other countries and already have their second homes in the Emirate. Most of these investors were attracted here due to the quality lifestyle and relative safety in Dubai along with its premium housing options and other amenities,” Report revealed.
As per a latest data, last year approximately 5, 000 millionaires have shifted to the UAE and most of them were from countries like Saudi Arabia, India, Egypt, Turkey, Iran, Nigeria, and Lebanon.
Many Dubai-based realty experts have stated that being a major financial hub and well-defined geographical location, the place is easily accessible to all the major global business conglomerates as well as population. Better lifestyle amenities, renowned schools, healthcare facilities etc. draws the attention of HNWIs here.
Also, property prices play a pivotal role. Recently another data has revealed that, as of June 2018, average apartment prices in Dubai touched $7, 800 per square meter which is considered as reasonable by this class of buyers. While the transaction fees and others registration costs are on the lower side in Dubai, Political stability and enhanced security levels are some of the other reasons that have made this Emirate state an investment hub among all the global real estate market.