One of the benefits of being an International Coach is that you get to travel around to some of the best places in the world to live and work. The advantage of this is that I get to experience firsthand what is happening on the ground in the places where I visit.
Dubai has long been one of my favorite destinations for work and pleasure and this time while the weather is reasonably cool is no exception.
I was fortunate first to come and live in the UAE forty years ago when everything was very different. The lifestyle forty years ago was far more relaxed and easy-going but the success that the UAE has achieved during these past forty years has been incredible to witness.
Today, Dubai is a household name and is known all over the world as a top destination for both leisure, retirement, and also work. It has achieved this by having a vision of how it wanted to grow and thrive in the ‘new world’ and become a model city where people aspire to live and work.
Dubai has used a mixture of common sense and understanding as to what people want out of a first-class global city. It has been able to deliver for its people and those who have been fortunate to spend time there and continues to set the standards globally in world-class living.
What is however surprising about Dubai is that even for the new arrival there are still plenty of opportunities to work and invest. When I look at the property market here compared to other global cities prices are still comparably cheap compared to say Hong Kong or Singapore.
Dubai is the new kid on the block and has more physical space that it can develop compared to Hong Kong and Singapore but currently is more vibrant and faster growing than either of the other two. Dubai is also more open and during Covid proved itself to be more pragmatic and business and people-friendly than almost any other country.
Currently, with high-interest rates around the world and war in Europe plus issues between China and the US, the UAE offers a degree of stability, peace, and common sense which makes it one of the best places currently to live, work and invest.
As a coach, it is always interesting to discuss and understand different markets and investments and it would appear that the UAE currently looks like a great investment opportunity. Most investors are looking at the real estate market which is thriving and has also caught my attention.
Personally, I would probably avoid long-term ‘off-plan’ purchases as generally these developments seem overpriced and hyped up by local sales agents. The second-hand market however looks a lot more attractive with regard to price and also rental yield for those looking at a ‘buy to let’.
I was surprised to see that even in some of the more popular areas in Dubai close to world-class amenities with excellent infrastructure and connections you can find apartments from $130,000 offering a yield of around 8% per annum.
At the top end of the markets completed Villas around golf estates or green areas literally go for millions of US Dollars and the trend is still up. For the International investor looking for a high-yielding property investment with the potential for capital appreciation as Dubai develops property in the UAE still looks like a great bet.
Like all investments, you need to do your research and make sure you pick the right investments. It is also worth sitting down with a coach and understanding how this fits in with your existing investments and the best way to structure the purchase.
Research and spending a little money and time before you plunge into the market will be well rewarded and prevent you from some of the mistakes others have made in the past when buying in the UAE.
Whether you are thinking of buying in the UAE and having Dubai investments for lifestyle, work or investment give us a call to help you better understand the market and make the most of this unique country.