The change in tax laws has inclined American buyers from London to UAE. This change along with the increase in demand from global investors will hike the demand for prime and super prime luxury properties in Dubai from the last quarter to 2025.
The limited availability of ready properties in Dubai prime locations such as Dubai Hills Estate, Emirates Hills, Jumeirah Bay Island is concerning, says CEO Sobha Realty. However, this has increased interest in off-plan property market in new projects with strong brands and quality, keeping the residential market very progressive.
70% buyers are international, 60% European where 40% are British, 20% Russian, and others from all over the world. The UK law has moved American buyers from London to UAE. The labour plans include removal of 50% discount for non-domiciles bringing foreign income to the UK. The changes could incline buyers to leave UK market.
Dubai real estate market especially luxury segment will see positive growth in 2025 as the demand from buyers is strong and continuous Downtown developments and One & Only Zabeel branded and furnished apartments are already renowned in Dubai.