{"id":1799,"date":"2024-01-30T19:09:00","date_gmt":"2024-01-30T18:09:00","guid":{"rendered":"https:\/\/dubairealestate.net\/?p=1799"},"modified":"2026-07-02T11:38:52","modified_gmt":"2026-07-02T09:38:52","slug":"dubais-luxury-property-market-overtakes-pariss","status":"publish","type":"post","link":"https:\/\/dubairealestate.net\/en\/actualite\/immobilier-de-luxe-dubai-detrone-paris\/","title":{"rendered":"Luxury property: Dubai overtakes Paris as the favourite city of the ultra-rich"},"content":{"rendered":"<p class=\"wp-block-paragraph\">According to a recent study, the city of Dubai has overtaken Paris as the favourite destination of the ultra-rich for the\u2019<strong><a href=\"https:\/\/dubairealestate.net\/en\/buying-in-dubai\/\">purchase of property<\/a><\/strong>&nbsp;luxury. In this article, we will examine the reasons behind this change and its implications for the French property market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The shifting rankings of the ultra-rich\u2019s favourite cities<\/h2>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>According to a survey carried out by Knight Frank, a firm specialising in property consultancy, Paris has lost its top spot to Dubai in the ranking of cities favoured by the ultra-rich for the purchase of luxury homes.<\/strong>&nbsp;This change can be attributed mainly to two factors: the more favourable tax policy in the United Arab Emirates, and the extensive infrastructure and business opportunities offered by this major city on the Arabian Peninsula.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dubai, renowned for its flamboyant style and grandeur, now stands out as a decidedly \u00abfuturistic\u00bb city.&nbsp;<strong>In the space of two years, she has made an impressive leap of 46 places in the Barnes rankings.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This city is seeing a dramatic surge in property transactions, with prices rising by around 20 to 22% in 2023 alone.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Better returns on property investment in Dubai<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">One of the key factors that attract the&nbsp;<strong>high-net-worth buyers in Dubai<\/strong>&nbsp;is the low rate of tax on rental income and capital gains on property, compared with those in France. Indeed, taxes are much lower in Dubai than in Paris, making property investments far more profitable. The prospect of making substantial profits is therefore very attractive to high-net-worth individuals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tax rates on capital gains from property:&nbsp;<strong>In Dubai, there is no capital gains tax on property<\/strong>.&nbsp;<em>In France, this rate is high, with a progressive tax rate of up to 40 % for the highest earners.<\/em><br>Taxes on rental income: The&nbsp;<strong>Rent received by a landlord in Dubai is not subject to tax.<\/strong>&nbsp;On the other hand, in&nbsp;<em>In France, this income falls within the category of property income and is therefore taxable.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Modern and luxurious facilities<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Dubai is renowned for its impressive infrastructure and the standard of living it offers. The city has a significant number of luxury residences and offers numerous investment opportunities for the ultra-rich, whether in the local economy or on its financial markets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>As a result, affluent buyers now prefer to look to Dubai for several reasons:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A booming property market, offering a wide choice of luxury homes at attractive prices<\/li>\n\n\n\n<li>A stable and diversified economy that encourages foreign investment<\/li>\n\n\n\n<li>A wide range of luxury facilities and services (shopping centres, hotels, restaurants)<\/li>\n\n\n\n<li>A pleasant climate and a strategic geographical location between Europe, Africa and Asia.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The 2023 rankings:<\/h3>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">1 \u2013 Dubai, UAE<br>2 \u2013 Miami, United States<br>3 \u2013 New York, United States<br>4 \u2013 Madrid, Spain<br>5 \u2013 Paris, France<br>6 \u2013 London, United Kingdom<br>7 \u2013 Austin, United States<br>8 \u2013 Lisbon, Portugal<br>9 \u2013 Rome, Italy<br>10 \u2013 Istanbul, Turkey<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Investing in property in Dubai<\/h3>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">Would you like to&nbsp;<strong>investing in property in Dubai<\/strong>&nbsp;? The\u2019<strong><a href=\"https:\/\/dubairealestate.net\/en\/notre-agence-immobiliere-a-dubai\/\">estate agency<\/a><\/strong>&nbsp;DRN Dubai Real Estate | Net you&nbsp;<strong>supports you throughout your investment process<\/strong>.<br>A dedicated team for each of its clients.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Please do not hesitate to contact us; a member of staff will be happy to answer any questions you may have.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Types of property available and the best areas in which to invest<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Dubai offers a wide range of properties, ranging from&nbsp;<strong>luxury villas, high-end flats, affordable studio flats and commercial premises<\/strong>. Among the neighbourhoods that are currently the most attractive for property investment are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Downtown Dubai:<\/strong>\u00a0The vibrant heart of the city, home to the famous Burj Khalifa and the Dubai Mall<\/li>\n\n\n\n<li><strong>Palm Jumeirah:<\/strong>\u00a0An artificial archipelago comprising luxury residences, hotels and beaches<\/li>\n\n\n\n<li><strong>Dubai Marina:<\/strong>\u00a0A trendy neighbourhood with its marina, skyscrapers and numerous restaurants<\/li>\n\n\n\n<li><strong>Jumeirah Beach Residence (JBR):<\/strong>\u00a0An area popular for its lively seafront and luxury blocks of flats<\/li>\n\n\n\n<li><strong>Business Bay:<\/strong>\u00a0A dynamic economic hub with modern infrastructure tailored to the needs of businesses<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Investing in property in Dubai in 2024 therefore presents an opportunity not to be missed for investors wishing to capitalise on a dynamic and attractive market. Favourable tax conditions, strong economic growth and a constantly evolving property market are all reasons why this city is a must for those wishing to embark on a new property project.<\/p>","protected":false},"excerpt":{"rendered":"<p>D\u2019apr\u00e8s une \u00e9tude r\u00e9cente, la ville de Duba\u00ef a d\u00e9pass\u00e9 Paris en tant que destination pr\u00e9f\u00e9r\u00e9e des ultra-riches pour l\u2019acquisition de biens immobiliers&nbsp;de luxe. Dans cet article, nous examinerons les raisons de ce changement et les cons\u00e9quences pour le march\u00e9 immobilier fran\u00e7ais. Le classement changeant des villes favorites des ultra-riches D\u2019apr\u00e8s une enqu\u00eate men\u00e9e par [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":1800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualite"],"_links":{"self":[{"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/posts\/1799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/comments?post=1799"}],"version-history":[{"count":1,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/posts\/1799\/revisions"}],"predecessor-version":[{"id":1801,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/posts\/1799\/revisions\/1801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/media\/1800"}],"wp:attachment":[{"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/media?parent=1799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/categories?post=1799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dubairealestate.net\/en\/wp-json\/wp\/v2\/tags?post=1799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}