Luxury real estate is highly sought after by wealthy global investors. This is because it is considered a recession proof venture- it is not sensitive to economic fluctuations because of the type of tenants attracted to it- moneyed people with a taste for grandeur. Luxury homes for sale in attractive destinations attract global investors.
Dubai has become the favoured destination for luxury property investment. This is because of the high-quality of real estate and the scope for an opulent lifestyle for both residents and expats. Dubai is not only a global hub for business, but it is the also a land of superlatives, home to glitzy nightlife, luxury cars and seven-star hotels for all those who wish to blow away cash.
Benefits
Here is a guide to why you should invest in luxury property in Dubai:
- Unique
Dubai holds a unique position in comparison to other destinations around the globe as a top business, leisure, shopping and travel hub which attracts all kinds of expats and tourists. It is particularly enticing for those who seek a sunshine filled holiday or to attend leading conferences and exhibitions or simply to those pursuing a luxurious and indulgent lifestyle. The tax free status of Dubai is always an attractive factor for rich investors and those seeking relocation to a tax free haven so that they can garner maximum returns from their investment.
- Top global city
Apart from Singapore and London, Dubai consists of the top 3 global cities, which are most attractive for high-net-worth individuals (HNWI), as per a report. Another study noted that a cosmopolitan lifestyle is one of the major factors which impacted the attraction for destinations of real estate investment in the Middle East, particularly Dubai. Reports placed Dubai high in rankings for preferred locations for HNWI’s, with 8th global position in 2015.
- Well priced and positioned
Dubai’s luxury real estate is becoming a highly popular investment destination for global buyers with a shift in demand in evidence even as more clients search for this type of property. As per a report, in 2014, over 13,800 transactions were carried out in the sector of luxury property which was valued at AED 10 million and more.
- Foreign buyers
Luxury real estate attracted many international investors with Dubai government figures revealing that this sector enjoyed the second-highest spurt in rental values in the last year. In 12 months closing in end of 2014, rentals rose up by an average of 8.1%. It has been noted that luxury property in the Emirates resists downward pressure from the rest of the market.
It is noted that HNWI’s are happy to pay a premium for getting luxury living space they like. Crucial factors are amenities, specification, size and location which determine what they are willing to shell out for a pad in the sky.
Dubai is famous for its capability to deliver global standards of master plans and infrastructure from the Burj Khalifa to the Palm Jumeirah, which are examples of iconic constructions. One of the hottest properties includes Palm Jumeirah villa for sale. Prospective buyers are looking for high-end properties that match their lifestyle.
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