Aside from the sandy beaches, luxurious shopping and the plethora of entertainment and dining experiences Dubai has to offer, one common thing draws property investors from around the globe – value for money.
For example, it’s no secret that Londoners are big contributors to Dubai’s property market; escaping the grey skies to enjoy a life of sunshine. But, along with that comes the advantage of reaping the benefits that Dubai properties have to offer such as spacious interiors, lush backyards and premium quality finishes that are rare and incredibly expensive in many European cities. For contrast, a villa worth AED 11.4 million (£2 million) would buy a 5,500 sqft., four bedroom villa in Dubai’s luxurious Palm Jumeirah, while in London that same amount would only attain a two to three bedroom home in Chelsea that is a third of the size.
In the third quarter of 2015, the average residential property in Dubai stood at AED 1,441 per sqft. with the Burj Khalifa being the most expensive at AED 3,700 per sqft, while the average in London was between AED 4,500 per sqft. and AED 7,400 per sqft.
One of the biggest attractions drawing investors to Dubai property throughout 2015 has been the popularity of off-plan residential properties due to the fact that they are often 20% to 30% lower in price, in comparison to ready-made stock. It provides the advantage of bypassing certain lending criteria, as well as avoiding the need to take out a mortgage altogether. Developers are also offering flexible payment plans that allow the purchaser to pay installments well beyond handover.Let's have a look at the following stats of nationalities who invested most in Dubai real estate market in 2015: