Investors looking to diversify their portfolio should take advantage of the current upward trend in Dubai's luxury real estate market. Despite the global economic downturn, Dubai's real estate sector has remained resilient and has continued to provide excellent returns on investment. According to the 2023 Wealth Report by Knight Frank, Dubai's prime residential market has gained significant momentum, now ranked as the world's fourth most active market.

To invest successfully in Dubai's luxury property market, it is crucial to understand the local market conditions and regulations. The Dubai Land Department oversees all real estate transactions and ensures transparency and fair dealings. For example, in 2022, over 10,853 real estate transactions were registered in the Business Bay area. The Dubai government's decision to grant long-term visas to foreign property investors and retirees has also helped attract more international buyers to the city's real estate market.

Investors should be aware of the financing options available to them, including mortgages that can be obtained from local banks and financial institutions. Convenient payment plans are also available for off-plan property, allowing investors to pay developers in installments.

Investors need to determine their investment objectives and risk appetite as Dubai offers a diverse range of luxury properties, each with varying levels of investment risk and return. In 2022, the demand for properties with larger living spaces and outdoor areas increased, as more buyers sought comfort and relaxation in their homes. Investors should conduct thorough research to identify properties that match their investment goals and risk tolerance.

According to Realiste, an AI-driven proptech company based in the UAE, Dubai's luxury real estate segment is expected to grow almost 14% in 2023. The city's safe-haven status and relatively low prices for luxury properties compared to other global financial hubs such as Singapore are the primary reasons for this growth.

"We are seeing strong growth in the luxury real estate market in Dubai, and we expect this trend to continue in the coming years," said Alex Galtsev, CEO of Realiste. "At Realiste, we use cutting-edge AI technology to provide investors with real-time market data and insights that enable them to make informed investment decisions. Our goal is to help investors maximize their rental income and achieve higher returns on investment."

Investors can capitalize on the thriving luxury real estate market in Dubai by gaining a thorough understanding of the local market regulations and conditions, identifying their investment goals and level of risk tolerance, and exploring various financing options. In addition, by leveraging data-driven solutions such as Realiste, investors can make well-informed decisions and reap the benefits of this prosperous industry.

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About Realiste:

Realiste is a proptech company that develops AI-based products for real estate investments. The company uses cutting-edge technology to provide investors with valuable insights and data-driven solutions for making smarter investment decisions. In 2022, it was recognized as the leading artificial intelligence company in the UAE.

Realiste is committed to driving innovation and growth in the real estate industry, and is dedicated to promoting diversity and inclusion in the tech sector.

The company’s goal is to build the first real estate exchange that can help to identify the most profitable options in the market, allow purchase online within seconds directly from developers, and manage all the purchased assets in one place.

The company’s headquarters are located in Dubai. Overall, Realiste covers over 20 cities, including Riyadh, Jakarta, Abu Dhabi, London, New York, Bangkok, Dubai, and Bali island. By the end of 2023, the team aims to expand Realiste to more than 30 cities globally, partnering with local businesses that share the company’s vision and have an in-depth understanding of their markets.

Realiste has strong advisers on board, including representatives of top developers and business elites in the UAE. Among them is Fatima Al Jaber, Board Member and Head of Projects Committee at Al Jaber Group, who was listed in Forbes' 100 Most Powerful Women in 2014. Another adviser is Ahmed Alenazi, the former CEO of STC Pay, the first fintech unicorn in Saudi Arabia. Realiste's team also includes other influential businessmen from the MENA region who provide the company with non-public information about the real estate market.