Among the people buying houses in Dubai are Indians who have settled there and compared to Indians who are staying abroad, there are more people who are living in our country. Along with those from Delhi, Ahmedabad, Surat and Hyderabad, Punjabis are also buying houses in large numbers in Dubai.
The average price of houses bought by Indians in Dubai is Rs.3.6 crore to Rs.3.8 crore (1.6-1.7 million dirhams). If these are rented out, it is possible to get Rs.3 to three and a half lakhs per month. The realtors there say that the income from rents in Dubai is a bit different from that of Mumbai.
With world-class infrastructure and many international schools, Dubai’s Indian population is on the rise. Experts say that all this contributes to Indians relocating to Dubai who want to live a quality life.
Ashrat Chaudhuri, who works as the director of strategy at Damak Properties in Dubai, said how many houses were sold in the whole year in 2019. Now we are selling all the houses in one month. He said that 15 percent to 20 percent of Dubai’s real estate market belongs to Indians. While Russians are also buying houses in large numbers here, British, Chinese and Pakistanis are also buying houses in Dubai in significant numbers.
The UAE government has further expanded the Golden Visa program to attract the wealthy to Dubai. Skilled professionals, scientists and researchers are coming. Due to this, Dubai realty is growing rapidly. Foreigners with this golden visa can stay in Dubai for long periods of time to work or study. With the increasing international demand for buying houses in Dubai, more apartment and villa projects are being launched in the city.
“Our children are happy here. The Indian curriculum in Dubai is one of the best in the world. It is a very safe city. If we forget the money bag in the cab… the driver will find your address and bring it back,” commented Rahul, who moved from Vijayawada and settled in Dubai.