Millennial investors hiking property prices for Dubai expats

Dubai is seeing a “big rise” in millennial investors looking for luxury properties.

“A lot of rich people are investing in Dubai, which is why we see villas being sold for $50 million to $100 million,” said Rizwan Sajan, founder and chairman of Danube Group in an exclusive video interview with AGBI.

“There are a number of people coming to Dubai because of the crisis across the world.”

But the influx in tourists, investors and residents has led to prices going up rapidly. Average rents in Dubai increased by 27.7 percent in the first two months of 2023, according to real estate group CBRE.

• Bahrain and UAE ranked best places for expats to set up home
• Luxury comes at a price for Dubai’s real estate brokers
• Tenants hit Dubai’s suburbs as prime property rents soar

In February alone, Dubai’s property market saw 8,515 transactions, a 43.9 percent increase from 2021. 

With Dubai becoming a playground for millionaires, will the city become unaffordable for its expatriate residents? Watch the full video to find out.