Dubai is a gateway to luxury living. People from all over the world are rushing to invest in Dubai. They're attracted by the amazing buildings, the stable economy, good prices, tax advantages, and lots of tourists.
In the first six months of this year, there were a lot of fancy houses sold for more than $10 million. Dubai beat London, New York, and Paris in this luxury property market, according to a report by Knight Frank.
From January to June, there were 176 super expensive property sales, including a massive deal of Dh410 million for a penthouse in Bulgari Lighthouse on Jumeirah Bay Island.
Dubai's popularity has also made off-plan sales very hot, making up about half of all property sales in the first half of 2023, says the Allsopp and Allsopp report.
Mr. Mudasir Mushtaq, CEO of DRE Homes, explains why Dubai is such a good place to invest. He says safety is a big deal, which means your investments are secure. Dubai's politics are stable, and they have effective leaders, which makes people trust the place. Property prices are good compared to other similar cities, so it's a good deal for investors. Dubai's money (the dirham) is tied to the US dollar, so it's a safe bet. Plus, there are great international schools, which means there's a diverse and skilled workforce. Dubai offers a sustainable lifestyle supported by lots of services, making it a unique place to invest in real estate.
He adds that Dubai's buildings and roads are always getting better to meet the needs of a modern city. They're big on using new ideas and technology. Dubai also has a lively cultural scene and cares about the environment, which makes it a top choice for luxury living and investments in the global property market.
In short, Dubai's incredible success in real estate didn't just happen by chance. It happened because of a perfect mix of things coming together. This makes Dubai a special place for both luxurious living and smart investors from all over the world.
Source: Khaleej Times