Expatriates Return to Dubai: A Shift in Global Real Estate Trends

• A trend of reverse migration is observed as UAE expatriates from Canada and the US are moving back to Dubai.

• Economic factors such as high taxes, rising living costs, and limited job opportunities in North America drive this return.

• Dubai's property market experiences increased investments from these returning expatriates.

• Imran Farooq of Samana Developers identifies this as a "new trend" with a noticeable increase in buyers from Canada and the US.

• The desire for better public safety, quality of life, and proximity to family and friends influences the decision to return.

• The cost of living in Canada, especially rent, has significantly increased, leading to dissatisfaction among residents.

• Dubai's tax-free income and luxurious lifestyle amenities are key attractions for returning expatriates.

• Investments in Dubai's real estate market include significant contributions from "desi Canadians" and Americans.

• The UAE's Golden Visa program is attracting interest from returnees, offering long-term residency options.

• The Dubai property market remains strong with no expected slowdown, driven by demand for properties eligible for the Golden Visa.

In a notable shift in migration patterns, Dubai is witnessing many expatriates returning from Canada and the US, reversing the trend of seeking greener pastures abroad. This movement is catalysed by economic challenges in North America, including high taxes, increased cost of living, and a scarcity of opportunities, prompting many to reconsider the advantages of life in the UAE.

Dubai's real estate sector is benefiting from this reverse migration, seeing a surge in investments from returning nationals. Imran Farooq, CEO of Samana Developers, highlights this phenomenon as a new and significant trend, with a marked increase in Canadian and US investors. This shift suggests a reassessment of Dubai's value proposition, offering a tax-free income and a high standard of living that outpaces many Western countries.

The rise in living expenses, particularly in Canada, has sparked a broader debate about affordability and quality of life. Dubai stands out as a competitive alternative, offering safety, superior public services, and a luxurious and convenient lifestyle. For instance, the ease of getting essentials delivered promptly to one's doorstep in Dubai is unmatched in many parts of the world.

Rizwan Sajan, chairman of Danube Group, points out that many returning investors are from the South Asian diaspora, who had previously migrated to the UAE and then moved to North America. The UAE's lack of income tax and its pampering of residents are significant pull factors for these individuals.

The resurgence in Dubai's property market is also fuelled by the Golden Visa program, attracting significant interest from European and American nationals looking for long-term residency options in the UAE. This program, coupled with Dubai's robust real estate market — showing no signs of a slowdown and with land prices consistently on the rise — signals a strong and sustained demand.

This reverse migration trend underscores Dubai's appeal as a global hub for living and investment. The city's ability to draw back those who left in search of better opportunities abroad speaks volumes about its economic stability, lifestyle offerings, and the confidence it instils in global citizens and investors alike.