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Multimillionaires opting Dubai for living in 2016

04.04.2016
Multimillionaires opting Dubai for living in 2016
According to the World Wealth 2015 report nearly 2,000 multimillionaires moved to Dubai in 2015.

According to the recently published World Wealth research, Dubai is one of the five most popular world’s cities multimillionaires prefer to settle down in.

When it comes to choosing a place in the world where you could spend most of your time in an interesting and comfortable environment, the richest people choose Dubai. This is where the majority of world’s records is concentrated, from the highest towers to the biggest theme parks and malls, from expensive and most exclusive apartments to the best medical care.

It is not surprising thus, that the number of millionaires residing in Dubai increased by 5% in 2015, and now amounts to 42,000 people, according to the World Wealth research. Over the last two years, Dubai climbed one position up in the top five of the world’s cities most popular amongst millionaires and now ranks fourth by the number of high net worth residents, ahead of Sydney, Melbourne and Tel Aviv.

Most wealthy people of the world are willing to buy property in Dubai as their second and often even as their first home, which is proved by a steady annual increase in $ 1 million plus worth elite properties transactions, as evidenced by Dubai Land Department data.

According to the World Wealth report, 1800 multimillionaires have already bought a second home in Dubai. And more than 3,000 millionaires moved in the UAE through the past year lifting the total millionaires’ population to 72,000 people.

Monaco, London and Hong Kong still top the list of the world’s priciest cities in terms of premium property sales prices. One square meter of elite housing in these cities is worth an average of US $ 50,400, US $ 42,000 and US 36000, in that order. Thus, Dubai also still remains one of the most affordable of the most popular world cities.

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RENT
125,000 / year
Ref.No: OF1209
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1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management