Latest news with #millionairemigration
Associated Press
25-06-2025
- Business
- Associated Press
Dubai Set to Attract Billions in Global Wealth in 2025, According to New Betterhomes Report
United Arab Emirates, June 25, 2025 -- International migration fuels demand for luxury properties, off plan Dubai developments, and apartments for sale in Dubai A new report from Betterhomes forecasts a major influx of global wealth into Dubai in 2025, positioning the city as a key destination for high-net-worth individuals (HNWIs) and long-term property investment. Titled 'Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth,' the report details how geopolitical shifts and economic uncertainty are driving millionaire migration to Dubai—and reshaping the emirate's real estate landscape. According to the report, 6,700 millionaires relocated to the UAE in 2024. With 142,000 projected to move globally in 2025, if just 5% choose Dubai, the emirate could see 7,100 new millionaires bringing an estimated USD 7.1 billion (AED 26 billion) in capital. That figure represents nearly half of Dubai's total foreign direct investment in 2024. 'Dubai's real estate market is no longer driven by speculation, but by strategic, long-term capital,' said Louis Harding, CEO of Betterhomes. 'Global wealth is not just arriving—it's anchoring here. In branded residences, legacy assets, and high-quality, off plan Dubai developments built for the future. Dubai is not only a magnet for capital; it's becoming the global benchmark for residential investment.' The report underscores that demand for apartments for sale in Dubai continues to rise, particularly among international buyers seeking security, tax efficiency, and world-class lifestyle benefits. With investors now viewing the city's real estate as a core part of diversified portfolios, the shift from cyclical buying to structural ownership marks a new chapter for the sector. Betterhomes also highlights the global 'push' factors behind this trend, including increasing wealth taxes, political instability, and stricter immigration laws. In contrast, Dubai offers a stable, investor-friendly environment with strong infrastructure, attractive residency options, and no personal income tax. As the UAE solidifies its position as a safe haven for international wealth, Betterhomes expects continued momentum in the luxury and off-plan markets throughout 2025. About Betterhomes: Betterhomes is one of the UAE's leading real estate brokerages, providing expert guidance to investors, homebuyers, and developers for over 35 years. Their deep market knowledge and innovative solutions continue to shape the future of real estate in Dubai and beyond. To access the full report and in-depth analysis, visit: Betterhomes Contact Info: Name: Elsa Angelo Email: Send Email Organization: Betterhomes Address: Vision Tower - 42nd - Business Bay - Dubai - United Arab Emirates Phone: +971600522233 Website: Release ID: 89162798 If you come across any problems, discrepancies, or concerns related to the content contained within this press release that necessitate action or if a press release requires takedown, we strongly encourage you to reach out without delay by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our committed team will be readily accessible round-the-clock to address your concerns within 8 hours and take appropriate actions to rectify identified issues or support with press release removals. Ensuring accurate and reliable information remains our unwavering commitment.
Arabian Business
15-05-2025
- Business
- Arabian Business
Dubai emerges as premier destination for global millionaire migration: Report
Dubai has transformed from a temporary destination to a permanent home for the world's wealthy, with millionaire migration reaching unprecedented levels, a new research reveals. The UAE now ranks as the 14 th largest wealth market globally, housing 130,500 dollar millionaires—reflecting a 98 per cent surge over the past decade, according to the Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth report by Betterhomes. ' Dubai's real estate market is no longer driven by speculation, but by strategic, long-term capital. We are seeing global wealth not just arrive, but anchor itself here, in branded residences, legacy properties, and high-quality developments built for permanence,' Louis Harding, the CEO of Betterhomes said. Dubai to welcome 7,100 new millionaires in 2025, bringing $7.1 billion 2024 marked a significant peak in global millionaire migration, with over 134,000 individuals possessing at least $1 million in liquid investable assets relocating across borders. Forecasts for 2025 suggest this figure will rise to approximately 142,000. If even 5 per cent of these millionaires choose Dubai, the emirate would welcome an estimated 7,100 new millionaires, representing a potential inflow exceeding $7.1 billion (AED26 billion)—equivalent to nearly half of Dubai's total foreign direct investment for 2024. Chinese wealth leads exodus to Dubai as UAE economy projects 5% growth The capital influx comes from diverse origins: East Asia, including Chinese entrepreneurs establishing offshore holdings Vietnamese investors diversifying against uncertainty Turkish and Argentinian wealth seeking refuge from currency depreciation British and American individuals pursuing capital preservation and growth Dubai has secured its position through a combination of factors whilst legacy cities struggle: Favourable tax regime and political stability World-class infrastructure and safety Strategic location providing access to global markets Strong economic growth projections The UAE demonstrates exceptional economic resilience, with GDP growth expected at 4 per cent in 2025, reaching 5 per cent in 2026 and stabilising at 4.7 per cent in 2027, while maintaining consistent inflation at just 2 per cent. In contrast, the Euro Area is projected to grow at a modest 0.8 per cent in 2025, inching up to 0.9 per cent in 2026 and 1.1 per cent in 2027. Dubai home to 237 centi-millionaires as global wealth seeks safe haven Despite a four-and-a-half-year boom, the city's luxury property prices have yet to reach their 2014 peak. Unlike previous cycles driven by speculation, current growth stems from genuine end-user demand. Year-to-date, villas and townhouses have recorded AED53.3 billion in sales, a 50 per cent year-on-year increase. Palm Jumeirah leads with 35 transactions totalling AED1.4 billion, followed by Emirates Hills with 19 deals valued at AED1.3 billion. Dubai has redefined property acquisition by intertwining real estate with identity, curating branded ecosystems that resonate with high-net-worth individuals. For two consecutive years, Dubai has led the global market in sales of homes priced above $10 million, outpacing traditional hubs such as London and New York. Industry experts note that Dubai is not simply attracting wealth but embedding itself within the infrastructure of global affluence, representing a structural realignment rather than a speculative bubble.
