In recent years, Indian investors have become increasingly interested in investing in the Dubai property market due to social, political, and economic factors. Due to Dubai's strategic location, welcoming policies for investors, and robust infrastructure, Indian buyers have developed a keen interest in the city, indicative of a broader shift in the global real estate market dynamics. The stability of the Emirati economy, the attraction of high rental yields, and the possibility of an opulent lifestyle are reasons why Indian investors are turning more and more of their attention to Dubai. To better understand why this is happening, this article will concentrate on how increased investment opportunities and closer cultural and economic ties draw more Indians to the Dubai property market.
Indian Investors & Dubai Property Market Relation
Indians and the Dubai property market have developed a closer bond recently, indicative of the Gulf state's burgeoning interest in real estate. In Dubai, Indians surpassed investors from Pakistan, China, Russia, and the UK to become the country's top foreign buyers in 2022. The high rental yields in Dubai, which are significantly more alluring than those in India, are among the many factors driving this trend. Indian buyers find the UAE a profitable investment, as UAE landlords can anticipate an average annual return of 7%, while India's average return is only 2.7%.
Indians are particularly drawn to Dubai's property market because of the city's opulent lifestyle and tax advantages. The region's appeal has been further enhanced by high-profile investments made by Indian billionaires and the participation of Bollywood celebrities in significant real estate projects. The $20 billion luxury project 'The Oasis' in Dubai, which stars Bollywood actor Shahrukh Khan, is one example of how Emaar strategically focuses on Indian investors.
Remarkably, a sizable percentage of Indian buyers in Dubai are UAE residents rather than recent immigrants. A further indicator of this demographic shift is the kind of properties that are preferred: one-bedroom apartments, in particular, are becoming more and more popular, as are smaller but still luxurious homes. According to the Henley Private Wealth Migration Report, the UAE is a popular destination for millionaire migrants, and a sizeable portion of this wealthy population comprises Indians. In 2023, the United Arab Emirates (UAE) is anticipated to maintain its leading position among high net worth individuals (HNWIs), primarily due to the influx of Indian investors attracted to Dubai's mix of luxury, security, and investment opportunities.
Top 4 Reasons Behind Indians Buying Dubai Property Market
Luxury Lifestyle and Safe Investment:
Due to Dubai's luxurious lifestyle options, wealthy Indians—including business people and entrepreneurs—are drawn to the city. Their opulent apartments and close proximity to landmarks like the Burj Khalifa, Business Bay and Downtown Dubai provide a first-rate living environment. Moreover, due to its excellent social infrastructure and robust community, Dubai is seen as a secure location for investments.
High Rental Yields and Market Recovery:
Like big cities like Mumbai, Dubai's rental market offers attractive yields. In Dubai, properties typically yield between 4% and 5% in rental income. The market has recovered from COVID-19 to levels observed in 2015–16, which makes now an excellent time to invest.
Global Connectivity and Business Opportunities:
Excellent worldwide connectivity is provided by Dubai's location and infrastructure, which is advantageous for business. Fintech and other young entrepreneurs are particularly drawn to the Dubai International Financial Centre. The city's ecosystem makes it easy to launch and run international companies.
Golden Visa Programme and Quality of Life:
The expanded Golden Visa program in Dubai has stimulated the real estate market, which grants long-term residency to more professionals and their families. In addition, people wishing to move or improve their lifestyle are drawn to Dubai's high standard of living due to its safety, international schools, and thriving Indian community.
Conclusion
Indians and Dubai property market has always secured good relations. With over 50,000+ transactions from just Indians, property in Dubai expects to grow more with such interest. Not only are Indians benefitting the UAE market, but properties in Dubai also have a lot to offer them. Upgraded lifestyle, better career opportunities, lavish living & whatnot is here?! That is why Indians are seen at a more excellent ratio heading towards the Dubai property market.
FAQS
Why do so many Indians buy property in Dubai?
The change in rankings can be ascribed to Indian consumers looking for Golden Visa eligibility and higher rates of return on their investments. Dubai is still drawing purchasers from a wide range of backgrounds. With the Golden Visa, investors and their families can live in Dubai for up to five years, with the option to extend that period to ten.
Why do Indians relocate to Dubai?
It plays a major role because of its advantageous location, which offers the best of both worlds. All the comforts of the West are at your fingertips, and your home country is only a short hop away. One of the things that drives an expat to decide to move to Dubai is its closeness to the Indian subcontinent.
What is driving the real estate boom in the Dubai property market?
International center for Travel and business: Dubai is a global center for travel and trade. This indicates that both end users and investors have a strong desire for real estate. Attractive tax structure: Owning property in Dubai is tax-efficient due to its beautiful tax structure.
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