Comparing Property Prices: Is Dubai More Affordable than London, Paris, and Mumbai?

In 2024, Dubai's prime real estate market is projected to experience a significant expansion, with growth rates ranging between 4% and 5.9%. This growth rate is the second fastest, only behind Sydney's 8% to 9.9% growth. Additionally, the stability provided by Dubai and the UAE's political and economic environment will be a key factor influencing the real estate market during the election year.

Reasonable Prices and Desirable Factors in Dubai's Real Estate Market

According to Savills, Dubai's prime market remains reasonably priced compared to international standards, with an average cost of $850 per square foot. Additionally, Dubai's warm climate, easy visa application process, and low cost of living continue to attract both domestic and foreign buyers.

Dubai Among Top Four Cities for Prime Residential Rental Growth

Following Lisbon, Berlin, and Singapore, Dubai has emerged as one of the top four cities in terms of growth in prime residential rental values. Despite being more expensive than cities such as Bangkok, Mumbai, Sydney, Madrid, Kuala Lumpur, Beijing, and Barcelona, Dubai's rental prices are still relatively lower than major cities like New York, Hong Kong, Los Angeles, Singapore, Paris, Geneva, and Amsterdam.

High-Yielding Potential and Anticipated Capital Value Growth in Dubai

Dubai is recognized as a high-yielding city according to world city standards, with a return of 4.8%. Over the past year, prime yields have increased by 40 basis points, while capital values rose by 17.4% and rents by 8.9%. Experts predict that this year, capital value growth will continue to outpace the rise in rents, leading to further yield improvements in Dubai.

Source : https://www.propertynews.ae/uae/it-is-cheaper-to-buy-and-sell-a-2-million-property-in-dubai-than-in-london-mumbai-paris-etc/