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Dubai’s Rise Among Global Investment Havens

You can’t imagine how splendid Dubai is as a haven for foreign investors until now. Yet another top ranking considering various geographical locations worldwide has proven this again. This major city in the United Arab Emirates has become one of the top five regarding accessible residential properties service for expats.

The rating itself was compiled taking into account three main variables:

  • The growing business environment within a specific geographical area
  • The affordability of real estate market
  • The fluctuation in pricing policies in the same region

It is the only city on the list of best performers in these criteria located on the Arabian Peninsula. Dubai competed with European Barcelona, Lisbon, Berlin cities, and Oslo in Scandinavia.

Colife’s Survey Insights

The renowned research company Colife conducted the analysis, which simultaneously deals with promoting rental property listings worldwide.

They have previously compiled similar rankings where, in several instances, Dubai featured among the best service cities for expatriates, business and Flats for Sale.

They only partially relied on their empirical indicators during their research, as that would be too narrowly focused. They also utilized open data from reputable sources like the World Bank, Forbes, StartupBlink, and other resources. They were able to create a comprehensive business map of attractive places with their unique market features and service advantages.

The Impact of Remote Work on Global Lifestyles

The significance of this research is highlighted because, at the moment, starting from the coronavirus restrictions, the prevailing lifestyle worldwide is known as digital nomadism or expats.

After significant travel restrictions in various countries, only some people have returned to working in the traditional way. Remote work has become one of the best solutions for employees and employers, as the latter significantly reduces office maintenance costs. Workers cut transportation expenses and feel more comfortable within the confines of their own apartments.

This matter even caught the attention of the company’s Instant Offices research service division. They found that globally, not just one or two million people but around 35 million remote workers prefer to travel to different places on our planet rather than be tied to a single geographic location.

It also became clear that the UAE and Dubai specifically were pioneers who could sense this trend. The government of this country provides a tremendous number of different attractive conditions for travel enthusiasts. Currently, they offer good opportunities for short-term migration and long-term residence in their country.

Golden Visa and Extended Residency

One can recall the famous expats Dubai golden visa, through which you can legally stay in the country for ten years, enjoying social benefits on par with citizens per migration laws.

None of the other countries in the list of business cities currently topping the ranking offer such provisions. We are not talking about holders of European Union passports, under the international agreement of which one can live throughout the Dubai territory of this community as a passport holder.

The target audience of this research was expats with above-average income. Another variable was outsourcing domestic duties to specialized services and avoiding long relocations.

Dubai’s Affordability

Representatives of the research company highlighted the accessibility of various amenities within this city compared to other economic centers like London and New York. You won’t secure a luxury rental property for $1,800 per month in these two cities.

In Dubai, at this market price point, you get to live in a high-end complex and receive daily cleaning for your apartment, complimentary internet, various pools, and gym facilities right within the complex.

In New York, for instance, you would pay at least $10,000 monthly for something similar service, depending on the neighborhood. The same goes for London, which is generally one of the most expensive cities.

Dubai is one of the most densely populated cities, especially in terms of expatriates, making up about 80% of the total population. This indicates that it’s a city of migrants. English is even more prevalent here than Arabic.

The Other Four Cities in the Ranking

  • First Place: Lisbon. Lisbon takes the lead as an affordable city. It boasts a pleasant climate, and you can rent a two-bedroom apartment in the city center for a rental price up to $1,000. There are numerous cafes, coffee shops, and co-working spaces.
  • Second Place: Barcelona. Barcelona offers a digital nomad business visa, introduced by Spain in early 2023. The cost of a two-bedroom apartment in the city center goes up to $1,300 per month.
  • Third Place: Berlin. Berlin presents technological innovations with household tasks and a focus on science, aiding expats in building a thriving career. The rental cost for a one-bedroom apartment in the city center is estimated at $1,418.
  • Fourth Place: Oslo. Oslo is renowned for its social security benefits and access to world-class education. The rental cost for a one-bedroom apartment is assessed to be around $1,528 per month.
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