The scorching climate may come as a shock, but Dubai offers all the amenities Russian expats have come to expect: luxury designer brands (especially clothing) in malls, celebrity chefs in hotels, luxury homes with domestic help
The UAE is home to several iconic and extravagant real estate developments that have gained global recognition. Projects such as the Palm Jumeirah, Burj Khalifa, and The World Islands in Dubai, as well as Yas Island and Saadiyat Island in Abu Dhabi, showcase luxurious properties and world-class amenities. The UAE offers a wide range of high-end residential properties, including luxury villas, penthouses, and upscale apartments. These properties often feature exclusive designs, spacious layouts, premium finishes, and state-of-the-art amenities. Gated communities and private residential compounds are popular among affluent buyers.
Luxury real estate in the UAE is often integrated with high-end retail experiences. The country is known for its extravagant shopping malls, including The Dubai Mall and Mall of the Emirates, which house luxury fashion brands, upscale boutiques, and gourmet outlets. The UAE's coastal locations offer an abundance of waterfront properties, including beachfront villas and apartments with stunning views of the Arabian Gulf. Waterfront developments often feature private marinas, yacht clubs, and beach clubs, providing an exclusive lifestyle for residents.
The United arab emirates has been ranked in the real estate price index with an average of $5,918 per square meter. Investors are interested in neutral countries such as the UAE and the Dubai region. In this regard, in the first half of this year, the Dubai real estate market faced the accumulation of Russian capital and the value of properties in this country increased.
Luxury real estate in the UAE has attracted global investors seeking high returns and a safe investment environment. The favorable tax regime, stable economy, and strategic location of the UAE make it an attractive destination for luxury property investment. Luxury serviced apartments and extended-stay residences are in demand among business travelers and affluent individuals seeking temporary accommodation. These properties offer luxury amenities, personalized services, and a convenient location within major cities.
The Dubai real estate market faced a severe recession in 2020. But to solve the problem of this sector, the leaders of this country reduced the restrictions of the epidemic, and this caused the increase in the sale of luxury units and the rapid growth of the UAE in the field of housing. Of course, the S&P rating agency warned about this situation in October. According to the report of this institute, the growth situation of Dubai real estate is fragile and uneven. Therefore, the oversupply of residential properties will be problematic in the long run and will put pressure on prices.
The currency of the UAE, the dirham, is tied to the dollar and has not changed since 1997. Public debt is manageable at 32% of GDP. Inflation is expected to reach less than 4%. The UAE banking system is reliable and well capitalized. The income tax rate is barely zero percent. The scorching climate may come as a shock, but Dubai offers all the amenities Russian expats have come to expect: luxury designer brands (especially clothing) in malls, celebrity chefs in hotels, luxury homes with domestic help. New restaurants in that financial district are serving a baked potato stuffed with caviar for just 2,610 dirhams ($710).
The UAE hosts numerous luxury hotel residences that combine the comfort and privacy of residential living with the services and facilities of a five-star hotel. Buyers have the opportunity to invest in branded residences managed by renowned global hotel chains, providing an exclusive lifestyle experience. The UAE has witnessed the development of luxury-focused communities and neighborhoods. These areas offer a range of amenities such as golf courses, marinas, private beach access, spa and wellness facilities, retail outlets, and fine dining options.