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Explained: Why residential properties in Mumbai cost more than in Dubai

The increase in the property prices in Mumbai has not dampened demand

Mumbai, residential, property
premium

Thareek Ahmed
Wealthy Indians are adding new residential addresses to their assets, many of them in Dubai.
 
The quality of life in the desert city is comparable to any coveted city in the world. Its property market is regulated to protect investors’ interests. The city offers rental yields of six to 10 per cent. A healthy rental is assured because of the sustained arrival of expatriates. And it offers property-linked visas.
 
No wonder, Indians spent Rs 35,500 crore to own Dubai homes in 2022. Danube Group, a UAE-based developer, says nearly half of all properties it sold in 2022 were