In recent years, Dubai has emerged as a preferred destination for wealthy Indians looking to invest in real estate. There has been a significant surge in the amount of money wealthy Indians are sending abroad under the Liberalized Remittance Scheme (LRS).
In FY24, Rs 3,173 crore were transferred, marking a 17 percent rise from the previous year. While this sum covers various purposes, real estate remains a dominant category, indicating Indians are increasingly looking beyond domestic markets, seeking better returns, diversification, and even lifestyle enhancements in foreign real estate investments with Dubai being a top choice.
Dubai’s real estate market has long been attractive for investors, especially due to its tax benefits, ease of doing business, high rental yields and its Golden Visa. The UAE’s ‘Golden visa’ is a long-term residence visa which enables foreign people to live, work or study in the UAE while enjoying benefits such as a long-term, renewable residence visa valid for 5 or 10 years.
If one owns a property or multiple properties in the UAE, then one is eligible for a renewable Golden Visa, without needing a sponsor. The conditions include providing a letter from the land department of the emirate where your property is located, confirming that the total value of your property or properties is at least 2 million dirhams which is around Rs 4.5 crore in Indian currency.
According to Ashwin Chadh, CEO of India Sotheby’s, the interest in Dubai properties is fuelled by multiple factors. For Indian investors, it could be tied to business, family, or even educational purposes, especially as many children from affluent families study abroad. Moreover, the city offers excellent infrastructure, world-class amenities, and luxurious living options that cater to the tastes of wealthy Indians.
Dubai’s rental yields are another attractive factor. Chaddha notes that yields in Dubai are typically higher than in Indian metros, making it an appealing option for those looking to generate rental income. “It’s on the lines of 5 to 7%,” he adds, emphasizing the steady returns investors can expect.
The global network of Sotheby’s spans 84 countries and over 1,100 offices, which enables them to cater to Indian clients looking to buy property abroad. Popular locations include not just Dubai but also London, New York, and other global cities. However, Dubai stands out for its proximity, luxury lifestyle and attractive real estate market.
When it comes to the process of buying property in Dubai, Chaddha assures that it is relatively simple. “It is very easy,” he says. Whether buying a ready-made or under-construction property, the process requires only a passport copy, with no additional paperwork. However, there’s a crucial caveat — loans are not readily available, and buyers must pay in full with cash being the norm. In case you want to apply for Golden Visa then additional documents will be required.
For those wondering about the ticket size, Chaddha shares that the average property purchased by his clients in Dubai is valued at around 4 million dirhams, which translates to roughly Rs 9 crore. This price point caters to the upper segment of Indian investors looking for a slice of Dubai’s luxury market.
For rich Indians, investing in Dubai isn’t just about owning property. It’s about gaining access to a global hub, whether for business, lifestyle, or future residency. As Chaddha explains, the allure of Dubai goes beyond just returns — it offers a lifestyle upgrade with easier access to global opportunities.
