Multimillionaires opting Dubai for living

04.04.2016
According to the World Wealth 2015 report nearly 2,000 multimillionaires moved to Dubai in 2015.

According to the recently published World Wealth research, Dubai is one of the five most popular world’s cities multimillionaires prefer to settle down in.

When it comes to choosing a place in the world where you could spend most of your time in an interesting and comfortable environment, the richest people choose Dubai. This is where the majority of world’s records is concentrated, from the highest towers to the biggest theme parks and malls, from expensive and most exclusive apartments to the best medical care.

It is not surprising thus, that the number of millionaires residing in Dubai increased by 5% in 2015, and now amounts to 42,000 people, according to the World Wealth research. Over the last two years, Dubai climbed one position up in the top five of the world’s cities most popular amongst millionaires and now ranks fourth by the number of high net worth residents, ahead of Sydney, Melbourne and Tel Aviv.

Most wealthy people of the world are willing to buy property in Dubai as their second and often even as their first home, which is proved by a steady annual increase in $ 1 million plus worth elite properties transactions, as evidenced by Dubai Land Department data.

According to the World Wealth report, 1800 multimillionaires have already bought a second home in Dubai. And more than 3,000 millionaires moved in the UAE through the past year lifting the total millionaires’ population to 72,000 people.

Monaco, London and Hong Kong still top the list of the world’s priciest cities in terms of premium property sales prices. One square meter of elite housing in these cities is worth an average of US $ 50,400, US $ 42,000 and US 36000, in that order. Thus, Dubai also still remains one of the most affordable of the most popular world cities.

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