How Dubai can be so luxurious yet so affordable
The annual rankings for global metropolitan cities by Swiss bank UBS are out and Dubai residents are once again among the luckiest people in the world.
Ranked 28th on the world’s top 77 cities, the emirate is less expensive than other prime cities such as Geneva, New York, Paris, Tokyo and Los Angeles.
Dubai residents enjoy a luxury lifestyle in all their daily activities since the Emirate prides to be known for unmatched services, top-class education and the best infrastructure in the world. Expats and Dubai natives can lead a Western lifestyle enhanced by a strong purchasing power. Dubai has gained popularity due to its taxation status, however, its real advantage is the superior quality of life provided there.
Ranked first in the region and 14th worldwide in the Purchasing Power sub-index, Dubai residents enjoy an all-around higher purchasing power than the residents of Doha, Riyadh, Paris, Vienna, Berlin and Tokyo. In reality, Dubai hits the sweet spot with international professionals and investors since it perfectly combines, high salaries and affordable cost of living.
As a matter of fact, Dubai recently cracked the top 10 cities of the Deutsche Bank list with highest salaries in the world, making it a highly desirable place to invest and live in. The Emirate also beat Hong Kong and Singapore in the race, as these, traditionally expats’ favourites, ranked lower than Dubai in average monthly income.
“Glamorous, impressive and futuristic, Dubai exploded onto the international scene with world-class hotels, stunning architecture and head-turning massive-scale projects to become a global city and Middle East business hub. Today, this desert oasis is home to over three million people and is known for being a playground for expats and the rich. In this city of superlatives, there is an endless choice of activities to indulge in sun, sand and shopping. It also features a more down-to-earth, charming side hidden behind the tourist attractions”, the Swiss bank UBS highlighted.
Looking into the future, Dubai is slowing moving away from oil generated prosperity and opening up to diverse industries, with real estate and foreign direct investment becoming its superpower. High-end real estate developments tailored to refined tastes and lifestyles are becoming the reality in Dubai market. Nonetheless, investing in property in Dubai is still significantly affordable. Extremely popular among portfolio owners looking to diversify in a sunny country or high-net-worth individuals searching for their dream second home, the Emirati real estate market caters to their every need.
As Dubai rises steadily, Copperstones is expanding in the Emirate, also making this city our second home. If you are looking to invest in premium property in Dubai, our team will provide you with unmatched service tailored to your demands.
Please submit your enquiry and a member of our team will get in touch with you soon.