{"id":41462,"date":"2017-01-22T16:50:56","date_gmt":"2017-01-22T09:50:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=41462"},"modified":"2017-01-22T14:05:26","modified_gmt":"2017-01-22T07:05:26","slug":"dubai-and-abu-dhabi-named-as-favoured-locations-by-worlds-wealthiest-homebuyers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-and-abu-dhabi-named-as-favoured-locations-by-worlds-wealthiest-homebuyers\/","title":{"rendered":"Dubai and Abu Dhabi named as favoured locations by world's wealthiest homebuyers"},"content":{"rendered":"


\nDubai and Abu Dhabi have both featured on a new ranking of the 50 most important cities for property ownership among the world’s wealthiest people.The Alpha Cities Index has been created by consultancy Wealth-X and is a ranking of the cities that ultra high net-worth individuals (UNHWIs) \u2014 those with a net worth of US$30 million or more \u2014 believe to be most attractive when considering property purchases. Cities were rated on a series of practical, emotional and cultural factors.Three Middle East cities made the top 50 with Dubai securing the highest regional placing at 36th. Abu Dhabi was ranked 50th and Kuwait City was joint 42nd. US cities dominated the list, with 12 out of the top 25 locations, but only one US city appears in the top five \u2014 New York, which was ranked 2nd. London was named as the top city for wealthy buyers.The index appears in Wealth-X’s new Global Property Handbook guide, which was complied alongside US-based brokers Warburg Realty and Paris-based Barnes International Realty.It found that 10 per cent of UNHWIs own five or more properties. It also said the market for luxury residential property had been buoyant between the aftermath of the global financial crisis and 2015, but had started to slow in the first half of last year. The report also said governments “in a number of countries” had introduced measures to discourage wealthy foreign buyers from snapping up homes due to fears that they would price local buyers out of the market.Frederick Warburg Peters, the chief executive of Warburg Realty, said: “The luxury real estate industry certainly faces headwinds, including the ongoing weakness in the eurozone, uncertainty triggered by Brexit, and related reduced purchasing power among European buyers. The degree of political insecurity \u2014 certainly in the US market \u2014 is also a significant factor.”Sameer Lakhani, the managing director of Global Capital partners, said that Dubai’s property market has traditionally been “top heavy” in building a higher proportion of luxury properties than in other cities in the world. This was due, he argued, to the commodity boom that took place between 2002-12.”That oil boom had beneficiaries in the region, in countries like Russia and some North African countries. That boom then fed into luxury properties. You had a lot of holiday homes and an investor effect that was coupled with a dollar that was weakening.”It wasn’t just Dubai \u2014 you saw it in Spain, in America and in Egypt.”He said this trend has started to reverse more recently as developers cater more to UAE residents by providing more affordable property. For instance, some 77 per cent of existing villas are priced in the Dh2m and above bracket, but 63 per cent of all villas currently under construction in Dubai being sold for between Dh1m-Dh2m.”You’re seeing a structural shift,” he said. Speaking at the launch of CBRE’s Dubai Annual Market Update last week, the firm’s UAE head of research and consultancy, Mat Green, said that many developers who had operated at the premium end of the market “are now starting to try and squeeze construction costs and deliver a product that is maybe slightly cheaper to build” to appeal to a wider group of buyers. CBRE is predicting that 70,000 units are due for completion in Dubai over the next three years.”With so much competition between multiple, master planned developments and everyone with the same view that they need to deliver product in time for [Expo 2020] the residential space has become increasingly competitive,” he said.mfahy@thenational.ae
\n
\nSource : thenational.ae
\nRead more…Dubai and Abu Dhabi named as favoured locations by world’s wealthiest homebuyers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai and Abu Dhabi have both featured on a new ranking of the 50 most...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-41462","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aMK","jetpack-related-posts":[{"id":41466,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-and-abu-dhabi-named-as-favoured-locations-by-worlds-wealthiest-homebuyers-2\/","url_meta":{"origin":41462,"position":0},"title":"Dubai and Abu Dhabi named as favoured locations by world's wealthiest homebuyers","date":"January 22, 2017","format":false,"excerpt":"\r Dubai and Abu Dhabi have both featured on a new ranking of the 50 most important cities for property ownership among the world's wealthiest people.The Alpha Cities Index has been created by consultancy Wealth-X and is a ranking of the cities that ultra high net-worth individuals (UNHWIs) \u2014 those\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":151056,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-and-abu-dhabi-named-worlds-best-cities-for-hnwi-relocations-thanks-to-tax-rules-and-quality-of-life\/","url_meta":{"origin":41462,"position":1},"title":"Dubai and Abu Dhabi named world\u2019s best cities for HNWI relocations thanks to tax rules and quality of life","date":"April 14, 2025","format":false,"excerpt":"\r Dubai and Abu Dhabi top global ranking of places to relocate for high-net-worth-individuals\r \r Source : arabianbusiness.com\r Read more...Dubai and Abu Dhabi named world\u2019s best cities for HNWI relocations thanks to tax rules and quality of life","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/04\/burj-khalifa-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":26123,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-and-abu-dhabi-named-middle-easts-most-sustainable-cities\/","url_meta":{"origin":41462,"position":2},"title":"Dubai and Abu Dhabi named Middle East's most sustainable cities","date":"September 15, 2016","format":false,"excerpt":"\r Dubai has been named as the region's most sustainable city, but it still falls in the bottom half of a new global ranking of 100 major cities.Construction consultancy Arcadis has placed Dubai 52nd in its 2016 Sustainable Cities Index, which was compiled by the Centre for Economic and Business\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":163674,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-and-abu-dhabi-named-among-worlds-most-resilient-cities-in-2025-index\/","url_meta":{"origin":41462,"position":3},"title":"Dubai and Abu Dhabi named among world\u2019s most resilient cities in 2025 index","date":"November 1, 2025","format":false,"excerpt":"\r Dubai ranks 4th and Abu Dhabi 13th in Kearney\u2019s Global Cities Resilience Index 2025, highlighting UAE leadership in urban development The post Dubai and Abu Dhabi named among world\u2019s most resilient cities in 2025 index appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/11\/Dubai-real-estate-tourism-1000x694-1.jpg?fit=1000%2C694&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":164595,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-and-abu-dhabi-in-worlds-top-five-wealth-destinations-report\/","url_meta":{"origin":41462,"position":4},"title":"Dubai and Abu Dhabi in world\u2019s top five wealth destinations: Report","date":"November 12, 2025","format":false,"excerpt":"\r Savills\u2019 first global wealth report places both UAE cities among leading hubs for HNWIs, with Dubai topping the global ranking The post Dubai and Abu Dhabi in world\u2019s top five wealth destinations: Report appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/11\/dubai-skyline-1-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":161811,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/etihad-rail-to-connect-11-uae-cities-by-2026-with-57-minute-dubai-abu-dhabi-trips\/","url_meta":{"origin":41462,"position":5},"title":"Etihad Rail to connect 11 UAE cities by 2026 with 57-minute Dubai\u2013Abu Dhabi trips","date":"September 30, 2025","format":false,"excerpt":"\r Etihad Rail to connect 11 UAE cities by 2026 with 57-minute Dubai\u2013Abu Dhabi trips\r \r Source : arabianbusiness.com\r Read more...Etihad Rail to connect 11 UAE cities by 2026 with 57-minute Dubai\u2013Abu Dhabi trips","rel":"","context":"In "Property 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