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When choosing among different options for investing in world’s best real estate, one could use the list of the Dubai’s obvious advantages, including tax incentives, investment climate and high standard of living combined with a rather low prices for luxury housing. This is also evidenced by data presented in the recent report on the real estate luxury market by Wealth-X, successfully confirmed by several loud statements from Dubai developers, made last week.
“The Europe, Middle East and Africa luxury residential real estate report 2015”, presented recently by Wealth-X and Sotheby's International Realty, has revealed a curious trend, clearly indicating that housing market in Dubai is going through the kind of a concealed rise. It is concealed, because the main indicators of prices and activity in the real estate market are still not up to par, and there even is a rather pronounced decrease. However, the fact that this decline is a sign of a market’s growth and stabilization as a whole is supported by an increased inflow of the world’s super-rich investors to the emirate. Moreover, according to the Wealth-X report, Dubai could surpass many other cities, tempting in terms of real estate investments, cultural and social activity in the coming years.
US$ 30 million or more — this figure characterizes investors belonging to the category of super-rich. 495 people owning such fortunes have already invested in Dubai real estate, as well as 34 billionaires. The prices for luxury property in Dubai are on average 40% lower than in London, the world billionaires’ "oasis". The share of luxury real estate, valued at more than US$ 1 million, in Dubai is currently about 8% of the total housing stock. US$ 5, 5 million — this is the average property cost in the luxury segment of the Dubai real estate market, and the average cost of the one square meter of the luxury apartment in Dubai is about US$ 9000. At the moment it is still about 10 times lower than, for example, in Monaco, the world capital of luxury.
Finally, if other reasons for choosing Dubai as the main hub for the real estate investments were not enough, Dubai authorities have got another final argument, strong enough to convince any skeptic. It was reported recently that no basic taxes and fees raises, including registration fees, are planned in the foreseeable future. Despite rumors, registration fee will remain the same — 4% of the property price, and the final date for the payment of the fees not yet paid is extended up to 31 October 2015.
