UAE in the ranking of the best countries to live in

New research from HSBC reveals the world’s best places to work and live. It is noteworthy that compared to the previous year, the United Arab Emirates moved up ten positions. Currently, the
UAE is ranked 4th among the top 48 places in the world to work and live. At the same time, people planning to move to the UAE assess the standard of living in this country at a high level.
There are plenty of real estate agencies in the United Arab Emirates currently. To choose the one, check out the Emirates.Estate website, where the specialists will help you obtain the house of your dreams.

It should be noted that the TOP-10 includes countries such as Switzerland, New Zealand, Australia, Qatar, and Bahrain. The study itself includes surveys of expatriates who have moved to other countries and were able to form their own opinions about life. Also, most people claim they are confident that after the global pandemic, the UAE is recovering much faster than other countries.

Abdulfattah Sharaf, CEO of HSBC Dubai, says that today the United Arab Emirates are focused on rapid development in the field of innovation, and the laws introduced by the government are focused on improving the quality of life. This combination, coupled with effective measures against COVID-19, makes the country the most preferred place to open and run a business.

According to the data obtained during the study:
● more than 43% cite the UAE as a suitable country for permanent residence due to the
high quality of life;
● more than 56% of emigrants come here to improve their own earnings;
● 49% mentioned moving to the UAE is an excellent opportunity to advance their careers.

Recent lifestyle changes are affecting what customers want from a home.

After months of lockdowns, ideal attributes include more space, open-plan living spaces, home office areas, and communities with green spaces and open visual corridors such as a park, golf course views, or beach access.

People appreciate being within walking or driving distance to shops, schools, and other social amenities. Many families seek to buy or rent large houses to accommodate relatives from abroad as they accept the extended family structure. As a result, more established residential communities, as well as the high-end segment, are doing well.

Housing price increase in 2022

Experts report that in 2022, with a high degree of probability, the cost of housing in Dubai will increase. The study and analysis of statistics and the current situation allow us to expect
property prices in Dubai will grow twice as fast as previously expected. In particular, this is due to the increased availability and high demand from foreign buyers.

Recall that 2021 can be called a historic year for Dubai. It was this year that saw a sharp recovery in the city’s economy, which was facilitated by two main factors: the successful
vaccination process and the rapid easing of restrictions against the backdrop of bans in other states. And this, in turn, helped to restore the tourism and trade sectors, which are an important part of the economy of the United Arab Emirates.

Surveys of leading real estate analysts show, on average, real estate prices are expected to rise by about 5% in 2022. At the same time, a few months ago, experts were confident the maximum
price increase would not exceed 2.5%.

However, experts assure – despite the increase in prices, the attractiveness of Dubai for investment and permanent residence will not decrease. A high level of security, attractive prices,
excellent visa reforms – all this attracts new residents and foreign investors.

The stability of the real estate market in Dubai

The bubble effect is known to all real estate experts. Oversaturation of the housing market is a common situation that negatively affects supply and demand. A study conducted by the international bank UBS showed Dubai has the lowest risk of congestion, unlike other world centers.
It is noteworthy that Hong Kong, Frankfurt, and other cities have a higher level of risk. Dubai is categorized as low-risk, according to the report, breaking its own record from last year.

Several factors are reported to have contributed to the low risk.

1. The affordability of real estate objects.
2. Understandable and affordable conditions for acquiring housing on a mortgage.
3. Competent measures to restore the economy and rising oil prices.

Even before the global pandemic, Dubai’s property market was over-supplying. Together with the decline in oil prices, this led to a gradual weakening of the market. However, with the competent actions of developers, and during the pandemic, the UAE government, solved this problem.

In particular, the real estate sector has been able to recover due to new rules governing business ownership for foreign citizens and obtaining visas. Demand for property in Dubai is also expected to rise as the city recovers from the lockdown.

When is the right time to buy property in the UAE

When it comes to buying a home, while there are several savings-related factors to weigh before making a decision, the best time to buy a home is when you have enough savings for a down payment so that your overall financial health doesn’t suffer after the purchase. Another important aspect to consider is if you have a strong credit score, if you will qualify for the lowest rate, and if real estate market conditions in your area reflect realistic prices.

In addition, you will also need to think about how long you are going to live in the house since this also affects your finances. Most of us perceive buying a house as a serious financial
obligation. There are some signs that financial planners point out to help you know if you’re ready to buy a home, and have less to do with the general housing market and more to do with your personal financial situation.

Real estate in the UAE

Do you want to buy property in Dubai but don’t know how to navigate the market? Contact the Emirates.Estate and their experts will select for you an investment and residence property that
fully meets your requirements.