The city remains the number one destination for the global HNWI community and millionaires clamor for the ‘Dubai life’
Dubai’s Property Market Attracts Significant Investment
A projected influx of over AED 16 billion (USD 4.4 billion) from high-net-worth individuals (HNWIs) in 2024 solidifies Dubai’s position as a leading investment destination. This trend is echoed by global real estate consultancy Knight Frank, highlighting Dubai’s dominance followed by Abu Dhabi and Sharjah.
Dubai’s property market has garnered significant interest from HNWIs since the pandemic. Favorable factors include attractive returns on investment due to historically low prices, world-class infrastructure, a secure environment, and a flourishing national economy. This robust market performance surpasses previous highs from 2014, with both property values and rental rates reaching new benchmarks.
As reported by Khaleej Times, Dubai has witnessed a surge in its affluent population. Thousands of millionaires from various regions, including Africa, the UK, and Asia, have chosen Dubai as their residence. Data from Henley & Partners further emphasizes this growth, indicating Dubai is now home to over 72,500 millionaires, 212 centi-millionaires, and 15 billionaires.
News Source: Khaleej Times
