- Luxury Properties in Dubai are more Affordable Than Other Countries
Dubai provides outstanding value for luxury real estate, even when compared to major global luxury property hotspots. Some of these are Singapore, New York, and London.
According to Knight Frank's 2023 Wealth Report, Dubai tops in the annual change in luxury residential prices in 2022.
However, despite a 44.2% increase in real estate prices, luxury properties in Dubai are still less expensive. This is in comparison to many other major cities across the world.
Conducting a relative value data, they have determined how many square metres can USD 1 million buy.
Dubai stands out for delivering a large amount of square footage for $1 million. Hence, making it an appealing destination for luxury property buyers.
In the table, Dubai boasts an amazing 1,130 sq. ft. or 105 sq m of premium luxury property for $1 million. This is at an average price per square foot of USD 885 (AED 3,250). This affordability is the perfect combination to Dubai's world-class luxury property developments and high level of living.
- No Capital Gain Tax on Luxury Properties in Dubai
Another important factor contributing to Dubai’s appeal is its ease of conducting business. Dubai is notable for its upscale communities and expensive houses. However, it also has a tax and legal framework that is beneficial to investors.
The emirate is a thriving business hub which makes it even more appealing to investors.
Furthermore, foreign real estate investors profit greatly from Dubai's capital and income tax-free system. It also does not have any additional charges on property purchases. Whether purchasing luxury houses for personal use or investment, procedures and processes in Dubai are significantly simpler.
This ease of doing business contrasts dramatically with cities like London, Paris, Geneva, and Monaco. These cities recently imposed new taxes on foreign buyers of luxury properties. Therefore, Dubai is a perfect location for investing in luxury properties. Dubai has good returns on investment, consistent population expansion, and an ever-increasing standard of living,
- The luxury of choice
One of Dubai’s greatest appeals is the varying choice of outstanding luxury properties available for purchase. With over 40 branded luxury residential developments, Dubai has one of the world’s most extensive portfolios.Dubai’s luxury property offers are outstanding,
with exquisite villas, fully-serviced apartments, and premium penthouses. The city offers investors a wide range of options. This allows them to choose from different neighbourhoods, property kinds, and prices for their luxury property investments.
Dubai caters to every lifestyle preference around the world. It has a variety of luxury property designs to choose from. As well as top notch amenities, well-connected around the world, and caters to all your needs.