The UAE has established a strong regulatory framework for the real estate sector, which enhances its attractiveness to capitalists and wealthy people from around the world, and guarantees them a worthwhile investment, in addition to providing many preferential benefits that include exemption from… income taxgolden visas, and the luxurious lifestyle.
International reports and studies confirm its status Real estate sector in The UAEAs a factor that attracts wealthy people, on the one hand, and a beneficiary of other attractive factors enjoyed by the state’s economy, on the other hand.
The reports pointed to the exceptional and safe investment opportunities enjoyed by the real estate sector in the country, and the optimistic expectations for its growth in the coming years, due to the increasing and exceptional demand. The UAE ranked among the top ten places for those planning to buy a home, according to the wealth report issued by Knight Frank, a global real estate consultancy, reviewed by the Emirates News Agency.
According to the company’s latest report, Dubai maintained its position as the highest global market in terms of the number of home sales exceeding $10 million, while New York and Hong Kong came in second and third place, respectively.
High-net-worth individuals are preparing to spend $4.4 billion on residential real estate in… Dubai This year, according to a survey conducted by Knight Frank, it included 317 high-net-worth people, including 217 millionaires from around the world, and 100 residents of the Gulf Cooperation Council countries.
The survey indicates that high-net-worth individuals around the world are preparing to spend $408.3 million on residential real estate in… Abu Dhabiand $388.5 million in Ras Al Khaimah, for a total of $797 million.
The net worth of high-net-worth survey participants is $5.4 billion, and they own 1,147 homes around the world.
It is expected that the size of the real estate market in the UAE will reach more than $700 billion by the end of 2024, as the sector occupies Residential real estate Leading the way amid expectations that it will exceed the $400 billion barrier in the same period.
According to a report by the global “Statista” platform, it indicated that Real estate market In the UAE, there is a boom in demand for luxury real estate, due to the increasing number of high-net-worth individuals looking for investment opportunities. It is expected to achieve a constant annual growth rate of 3.03 percent between 2024 and 2028, leading to a market size of about $800 billion at that time.
The UAE market recorded growth in prices and transaction volumes in 2023, amid expectations that transaction volumes will continue to grow in Abu Dhabi until the end of 2024, and that prices will continue to grow in the apartment and villa sectors in Dubai, according to CBRE International Real Estate.
The residential market in the UAE maintained an upward trajectory, marked by unprecedented transaction levels in 2023, and the trend is expected to continue during the current year, according to Deloitte Professional Services and Consulting.
The global company, Henley & Partners, believes that the UAE topped the list of leading destinations for the world’s wealthy again in 2024. More than 6,700 millionaires are expected to flock to the country, a number greater than any other country in the world, according to the company’s latest report.
