Additional income, UAE Golden Visa: 5 reasons why property owners in Dubai are getting younger

Additional income, UAE Golden Visa: 5 reasons why property owners in Dubai are getting younger

Mohammed Iqbal and his wife always thought about buying property here in Dubai but kept going back and forth.

When the pandemic hit, they started saving up and finally decided to take the plunge two years ago after a lot of financial planning about return on investment, forex rates and Indian rupee depreciation.

“We found that it made more financial sense to buy here than in India.”

Iqbal is one of many such young people who have bought property here in Dubai. Real estate industry executives say the average age of property buyers in Dubai has dropped.

Benjamin Stafford, chief executive officer, Inicio, said the data indicates a growing trend of younger buyers entering the property market, partially driven by the current ease of entry into the market.

“The average age of property buyers has steadily dropped from 58 years old in 2010 to 42 years old in 2022. In 2022, the 20-to-30-years-old age group increased from 10 per cent to 11.5 per cent, the 31-to-45-years-old age group increased from 54 per cent to 60.6 per cent, and the 46-to-60-years-old age group dropped from 35 per cent to 28 per cent,” he said.

Iqbal has rented it out his place and stays with his family at