UAE luxury real estate residential market outlook remains bullish

UAE luxury real estate residential market outlook remains bullish

The growing segment offers several opportunities for investors and developers as the UAE economy continues to outpace its global peers

The improved economic conditions and higher per capita income in the UAE has acted as significant driver for high-net-worth individuals seeking attractive investment opportunities and a luxurious lifestyle in the country. — File photo

By Shailash Dash Published: Tue 1 Aug 2023, 12:42 PM

The UAE has established itself as a hub for investors, entrepreneurs and is home to some of the world’s wealthiest people and an increasing number of expatriates. The country’s tax-efficient environment, global connectivity and ease of setting up a business has made it a prime destination to park wealth.

With the country’s GDP on the rise, income generated is distributed among the population, increasing the average per capita income. This increase has translated into a higher standard of living for residents, offering them greater financial resources and purchasing power. The improved economic conditions and higher per capita income in the UAE has acted as significant driver for high-net-worth individuals (HNWIs) seeking attractive investment opportunities and a luxurious lifestyle in the country.

Moreover, factors such as its safe haven status, highly diversified economy, well-established healthcare system, luxury shopping and restaurants on offer,