British investors are relocating to Dubai in record numbers for retirement and lucrative property investments
The luxury real estate market in Dubai is experiencing a surge, driven in part by British investors who are flocking to the UAE in record numbers, seeking properties for retirement and investment, industry insiders said.
The branded residences segment is the biggest beneficiary of this surge, emerging as a key feature of luxury offerings in the city’s high-end residential market.
Dubai real estate: UK investors flock to luxury branded residences for retirement, investment
British investors are relocating to Dubai in record numbers for retirement and lucrative property investments
The luxury real estate market in Dubai is experiencing a surge, driven in part by British investors who are flocking to the UAE in record numbers, seeking properties for retirement and investment, industry insiders said.
The branded residences segment is the biggest beneficiary of this surge, emerging as a key feature of luxury offerings in the city’s high-end residential market.
The rising use of AI (artificial intelligence) is further augmenting the current surge in demand for premium housing properties, enabling the development of smart buildings that are more efficient, sustainable, and comfortable for occupants and also by transforming customer engagement in property investments.
“There are several considerations for investors looking to enter or expand their presence in Dubai’s luxury real estate market,” Sachin Kumar Singh, Business Head and Managing Partner at Foremen Fiefdom, a Dubai-based leading real estate management company, told.
“British investors are particularly significant in the current boom, as they are increasingly choosing Dubai for property purchases and retirement plans,” he said.
Senior executives in other real estate consultancies and proptechs also confirmed the surging demand for premium and ultra-luxury residential real estate in Dubai.
“Though in the past the high-end housing segment used to see demand from a mix of cash-rich investors from various regions, British investors are playing a crucial role in driving Dubai’s current property market boom, contributing to its status as a global hub for luxury real estate,” a senior executive with a Dubai-based proptech said.
Dubai offers more options to investors vis-à-vis London
While making a comparative analysis on housing investment options in Dubai and London, recently reported that the city offers more luxury options, with $1 million yielding property across a range of real estate categories including branded residences.
Industry players said leading developers are currently focusing more on launching luxury and ultra-luxury residential projects in Dubai to cash in on the current surge for demand in this segment.
These projects offer a diverse range of residential options from chic apartments to lavish penthouses.
“With overseas demand for premium residences in Dubai continuing unabated, the upward trajectory of Dubai’s prime luxury real estate market remains unwavering, and the rapid growth in the super-prime market, seen in 2023, continuing strong [so far this year],” senior executives at Maria Morris said.
“To manage the enduring demand, developers are in a race to match Dubai’s remarkable ascent as one of the most coveted luxury home markets – primary and secondary – worldwide,” they said.
AI and technology aiding to accelerate the demand further
Industry insiders said AI and other technological innovations, embraced by developers as well as real estate consultancies, are helping to further augment the current surge in demand in the luxury segment by way of designing branded, smart houses with customised features for lavish living.
Through the use of chatbots and AI-powered customer service platforms, real estate companies also provide personalised and responsive service to their clients, enhancing the overall customer experience, further fuelling the growth of the luxury segment, they said.
“Dubai’s vision to become a global hub for real estate is well-supported by its commitment to innovation, as evidenced by its early adoption of AI and technology in various sectors, including real estate,” Foremen Fiefdom’s Singh said.
He said one of the key areas where AI is revolutionising the real estate market is in property valuation.
“By leveraging AI algorithms and IoT devices, real estate professionals can now conduct more accurate and efficient property valuations, leading to more informed decision-making and potentially higher property values,” Singh said.
