How many non-residents are buying properties in Dubai

Dubai has long been a popular destination for expats and non-residents seeking to invest in property. The city's attractive tax laws, luxurious lifestyle, and stable economy make it a prime location for those looking to purchase a second home or make a real estate investment.
Despite the challenges posed by the COVID-19 pandemic, Dubai's real estate market has remained resilient, with a significant number of non-residents continuing to invest in the city's property market. In this article, we will take a closer look at the number of non-residents who have purchased properties in Dubai between 2020 and 2022.

Non-residents accounted for 25% of Dubai real estate transactions in 2020

According to recent data, the number of non-residents purchasing properties in Dubai has increased steadily over the past few years. In 2020, despite the global pandemic, non-residents accounted for 25% of all real estate transactions in Dubai. This is a significant increase from the 19% recorded in 2019.
The trend seems to be continuing in 2021, with a report from Dubai Land Department revealing that non-residents made up 27% of all property buyers in the first quarter of the year. The data also shows that non-residents from India, Pakistan, the United Kingdom, China, and Saudi Arabia accounted for the highest number of property purchases during this period.

Several factors are driving non-residents to acquire properties in Dubai

The increase in the number of non-residents buying properties in Dubai can be attributed to several factors. Firstly, Dubai's real estate market has proven to be a safe and stable investment option, with a high return on investment (ROI). Secondly, the city's government has implemented several initiatives aimed at attracting foreign investors, including the introduction of long-term visas and the reduction of property transfer fees.

Another factor driving the increase in non-resident property purchases is the city's growing reputation as a tourist destination. Dubai's world-class attractions, such as the Burj Khalifa, Dubai Mall, and Palm Jumeirah, continue to attract millions of visitors each year. With more tourists flocking to the city, demand for short-term rentals has increased, making it an attractive option for property investors looking to earn rental income.

Furthermore, Dubai's position as a regional business hub also makes it an attractive location for non-residents looking to invest in commercial real estate. The city's strategic location between Europe and Asia, coupled with its tax-friendly policies, has made it an ideal destination for businesses looking to establish a presence in the Middle East.

Besides, there are plenty of available non-resident mortgage Dubai and UAE options for non-residents to finance their non-resident home loan with, which makes the Dubai property market even more appealing.

In conclusion, the number of non-residents buying properties in Dubai has continued to increase over the past few years, despite the challenges posed by the COVID-19 pandemic. The city's attractive tax laws, luxurious lifestyle, stable economy, and growing reputation as a tourist and business hub make it a prime location for those looking to invest in real estate.

While it is difficult to predict the exact number of non-resident property purchases that will occur in Dubai in the coming years, it is safe to say that the city's real estate market will remain a lucrative investment option for both local and foreign investors. With the government's commitment to attracting foreign investment and the city's growing reputation as a global destination, Dubai is set to maintain its position as one of the world's leading real estate markets.

How we can help

Lenddoo Mortgages can help you explore a range of financing scenarios that suit your financial needs and can help you finance your property being a non-resident in Dubai.

Lenddoo’s team of experts is available to guide you through the entire process, so don't hesitate to schedule your free advisory call or get started on our website!