Dubai Real Estate: The Rising “Second Home” Destination

Wanting a second home in Dubai is more than just a mere trend. Upon reviewing the year 2018, we witnessed millionaires and multimillionaires flocked the city’s standing as the luxury international second home market. And just recently, in 2021, Dubai's real estate market has attracted even more buyers from all around the world.

Dubai is simply one of the best places to live in the world; it has the fastest-growing luxury home market in the globe and is also the most connected city in the world. Read on to learn more about Dubai as the rising “second home” destination today.

Dubai as A Globally-Connected City

The selection of Dubai as the host city for Expo 2020 honors the UAE Emirate's diversity, infrastructure, and stability. The UAE's geographical location is ideal, connecting three continents, Europe, Asia, and Africa, in under 5-6 hours by air from major worldwide cities. 

Dubai’s Success in Pandemic Management

In many respects, Dubai's allure stems from its management. The proactiveness of the city's leadership and the UAE government has kept it appealing to investors. 

For example, tourists and vaccination deliveries are continuously helping Dubai's business activities quickly return to pre-pandemic levels. Last 2021, 80% of the eligible population would have already been inoculated. 

Despite the global coronavirus pandemic, experts claim the country's attempts to manage it have contributed to the country's reputation as a safe tourist destination. Furthermore, resuming routine after a pandemic necessitates a sense of well-being.

Dubai’s Programs for Ownership and Golden Visas

Dubai now allows for 100% ownership without the need for a local partner. The Golden Visa initiative has also piqued the interest of UAE residents. Dubai's entrepreneurial and investment activity has also expanded as a result of these new policies. The impact of these policies can be seen in the rental market, where demand and prices are both increasing on a steady, annual basis.

Dubai As an Investor's Fantasy

Dubai has rental yields of 6-10%, which are unheard of in established markets. As a result, a million dollars may buy more real estate in Dubai than in other major global cities like Mumbai, Shanghai, London, Singapore, or Monaco. 

While Dubai's real estate industry is unregulated, a strict Real Estate Regulation Authority protects investors, and developers are held accountable, giving them considerable peace of mind. Rising demand will keep property values rising for the foreseeable future, as supply has been strictly regulated since the outbreak.

Dubai’s Excellent Infrastructure

Dubai is equipped with the infrastructure that any world-class commercial location should have. At the same time, the government has established free zones in Jebel Ali and Media City to entice international investment.

Dubai’s Investment Opportunities

Expats and others looking for a different way of life on the Arabian Peninsula are increasingly choosing Dubai as a world-class business hub with year-round sunshine and exquisite elegance.

Conclusion

Dubai is certainly a city that offers quality living. Here, it isn’t all about malls and skyscrapers. We offer more, making it a suitable place for everyone, including families, and hard-working individuals, young or old. So, don’t miss out on your chance to acquire a piece of paradise in our city. Your “second home” is waiting for you.

Dacha is a market leader in Dubai's real estate sector, committed to top-of-the-line client service, world-class listings, and overall excellent management. Our team emerges as a prominent and trustworthy participant in the market year after year. Give us a call and work with us today!