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British Investors Surpass Indians And Russians: Flocking To The UAE For Golden Visas

Posted by cafedetech on May 6, 2024

Dubai’s property market is experiencing a significant increase in investment from British investors. The record investment is being fueled by tax advantages, lucrative investment and luxurious lifestyle that Dubai offers.

Recent data shows an unusual increase in transactions from UK nationals, outnumbering traditional players such as Indian and Russian investors. This development highlights the investment potential of the United Arab Emirates. 

Paul Kelly, operations director at Allsopp & Allsopp Group, is of the view that transactions from UK customers increased 43% in the first quarter of 2024 as compared to the same period last year. 

He goes on to say, “We can attribute this to an influx of people from the UK, as well as an increased appetite from local UK tenants who are entering the market.” 

The increased cost of living and rising taxes in the UK after Brexit mainly led this shift. This shift towards Dubai also indicates Dubai’s real estate investment potential and accentuates its capability to attract investors from all over the world. The increase in investment from UK investors has significantly outpaced dominant players such as Russia and India.

Alina Adamco says, “Dubai’s strategic location, modern infrastructure, tax advantages, cosmopolitan culture, and strong investment returns are major drawcards.”

Young professionals, entrepreneurs, and retirees from the UK are taking a keen interest in Dubai’s real estate investment. They aim to capitalize on tax advantages and high rental yields that Dubai offers.

Lynnette Sacchetto, founder of Dubai-based DXB advisors, says, “Unlike the UK where property investments come with substantial tax liabilities like income tax on rentals and capital gains tax, Dubai offers a tax-free environment – a huge incentive.”

He further says, “From high-end shopping malls, restaurants, world-class schools, and hospitals, the quality of life in Dubai is a huge draw for those looking to invest in properties that also serve as personal retreats.”

Dubai offers high rental yields. This ability of the metropolitan city is deemed a pull factor because other prominent places for real estate investment offer volatile returns, making it one of the best options.

Better Homes Senior Market Research Analyst Aishwarya Lalchandani says, “The proportion of apartments in the total sales transactions for British buyers rose from 18 percent in Q1 2023 to 45 percent in the same period of 2024.”

Better Homes also noted that only 54% of transactions have been made by British investors towards villas and townhouses, a significant increase from last year, when the value of transactions was over 80%.


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