High GDP per capita and world-class infrastructure drive added value for property investment in Dubai's premier destinations
Source: PRNewswire for Emaar , Author: Posted by BI-ME staff
Posted: Thu October 18, 2018 1:42 pm

UAE. --/PRNewswire/ --With its high gross domestic product (GDP) per capita and investments in building a world-class infrastructure, investing in premium residential real estate in Dubai guarantees strong returns for international investors, according to market experts.
    
A study on the cost of residential real estate versus the GDP per capita in key city hubs globally reveals that Dubai offers one of the most attractive value propositions for investors.

This is underpinned by Dubai's status as one of only 20 metropolitan areas* in the Middle East and Africa compared to 51 metro areas in the US, 43 in Western Europe, 25 in Advanced Asia Pacific, 20 in Emerging Asia-Pacific, and over 103 in China.

With the cost of residential property in premier locations such as Dubai Creek Harbour and Downtown Dubai at about US$550 (AED 2,020) per square foot, and the GDP per capita in the UAE at US$40,698**, analysts say the potential for growth for Dubai is higher than other major city hubs.
A comparative view  

Average price per square foot for properties*** and GDP per capita in global cities

    City             Average price of premium property (USD)    GDP per capita (USD)** 

    Dubai/UAE                     550                                                             40,698 

    Shanghai                     2,125                                                             32,684 

    New York City             4,100                                                             73,938 

    Paris                             4,400                                                             65,354 

    London                        5,300                                                             55,947 

    Tokyo                           7,600                                                             43,884 

    Hong Kong                 11,000                                                            56,571 

Where will most of the growth happen?
Dubai - despite its high GDP per capita - offers the most competitive residential real estate in its premium destinations. This has catalysed interest by high net worth individuals in investing in prestigious developments such as Dubai Creek Harbour, Downtown Dubai, Dubai Hills Estate, Dubai Marina and Emaar Beachfront.

Dubai's appeal is also driven by its improvement in cost of living ranking. According to Mercer, Dubai no longer features in the world's 25 most expensive cities - having dropped from 19th to 26th position. Meanwhile, Hong Kong, Tokyo, Zurich, Singapore, Seoul, Shanghai and Beijing - which have high residential property rates - are among the top 10 most expensive cities.

Investors have a winning proposition in Dubai Creek Harbour, a master-planned destination located along the Dubai Creek, and anchored by the new global icon, Dubai Creek Tower. It will also feature Dubai Square, the retail metropolis of the future that includes the region's largest Chinatown.

Photo Captions:
1. (above)  Dubai Creek Harbour by Emaar (Photo: PRNewsfoto/Emaar)
2. (inset)     Downtown Dubai  (Photo: PRNewsfoto/Emaar)

 

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