The UAE has solidified its position as a major destination for millionaire migration worldwide, drawing high-net-worth people (HNWIs) to its thriving cities of Dubai and Ajman. With an impressive surge in migration numbers, 2024 has marked a pivotal year in the UAE’s real estate and economic landscape.
An Influx of Millionaires in 2024
According to the latest Henley & Partners Private Wealth Migration Report 2024, the UAE continues to top the charts for millionaire migration, with thousands of affluent individuals relocating to its shores. Official figures reveal that over 6,700 millionaires moved to the UAE in 2024. The UAE is home to 116,500 millionaires, 308 centimillionaires, and 20 billionaires, placing it as the 14th largest wealth hub in the world.
The UAE’s ideal accessibility, tax-free laws, and unmatched lifestyle options are the main drivers of this migration. The migration has greatly increased the real estate markets in Dubai and Ajman, opening up profitable prospects for real estate investors.
Why Millionaires Prefer Dubai and Ajman
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Dubai’s Real Estate Boom
The UAE’s real estate market is still concentrated in Dubai, which is well-known for its distinctive skyline and opulent way of life. High-end real estate in neighborhoods like Downtown Dubai, Palm Jumeirah, and Dubai Marina is in greater demand than ever. Dubai attracts money from all over the world because of its strong infrastructure, first-rate amenities, and welcoming investment laws.
Developers are reporting record-breaking sales in 2024, with properties ranging from upscale apartments to sprawling villas in gated communities. Explore more about Dubai’s real estate market trends.
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Ajman: The Emerging Hub
While Dubai captures the news, Ajman is quietly becoming a popular destination for both investors and migrants. Because of its low cost and strategic development plans, Ajman is an appealing option for people looking for good value for money. The city’s real estate market provides a variety of choices to suit a broad range of tastes, from opulent apartments to roomy villas.
Ajman’s allure has been further enhanced by its proximity to Dubai and continuous infrastructure upgrades. As the migration numbers rise, Ajman’s real estate sector is poised for substantial growth, attracting both HNWIs and mid-tier investors.
Key Insights from the Henley & Partners Report
The Henley & Partners Private Wealth Migration Report highlights the UAE’s unparalleled success in attracting millionaires. The report attributes this success to factors like:
- Business-Friendly Environment: The UAE offers tax incentives, free zones, and a streamlined business setup process.
- High Living Standards: Access to top-notch healthcare, education, and leisure facilities makes it a global lifestyle hub.
- Safe and Stable Environment: The UAE’s political stability and safety standards are unmatched in the region.
These elements collectively make Dubai and Ajman prime choices for global wealth migration.
The Impact on Real Estate Markets
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Dubai’s Luxury Segment
The arrival of millionaires has led to a surge in demand for high-end properties. In Dubai, areas like Emirates Hills and Business Bay are witnessing record-breaking sales. Developers are responding by launching new projects tailored to the needs of affluent buyers. Learn why now is the best time to invest in Dubai properties.
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Ajman’s Affordable Appeal
Ajman offers a unique proposition—luxury at a fraction of Dubai’s prices. This affordability, combined with high rental yields, makes Ajman a favorite for both investors and end-users. As migration trends continue, Ajman’s real estate market is set to expand further, offering opportunities across residential and commercial sectors.
Opportunities for Investors
The migration of millionaires to the UAE presents unparalleled opportunities for real estate investors. With the demand for properties at an all-time high, both Dubai and Ajman are experiencing rapid market growth. Whether you’re looking to invest in luxury developments or affordable housing, now is the time to act.
Looking to rent or sell property in Dubai or Ajman? Let IM Properties guide you through the process with expert advice and premium listings. Contact us today to take advantage of the thriving market.
The Future of Wealth Migration in the UAE
As the UAE continues to attract the world’s elite, its real estate markets in Dubai and Ajman are set to flourish. The government’s forward-thinking policies, coupled with the unmatched lifestyle offerings, ensure that the UAE remains the ultimate destination for millionaire migration. Whether you’re an investor or a potential resident, the opportunities are boundless.
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