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A new trend is emerging in Dubai’s property market – reverse migration. An increasing number of former UAE residents who had relocated to Canada and the US are now moving back and Investing In Real Estate In Dubai .
Industry experts point to high taxes, rising prices and rents, and fewer opportunities in Canada and the US as main reasons prompting return migration. As per Rizwan Sajan, chairman of Danube Group, “Most of our Canadian buyers are desi Canadians from India and Pakistan who lived in the UAE and then migrated there. People there pay up to 40 to 50 percent of their income in taxes. But there is no income tax here in the UAE.“
The overall cost of living has also increased substantially in Canada last year, driven mainly by a jump in rents. This has put the Canadian government under pressure to address affordability in the upcoming budget. That’s why Canadian people also Buy Property In Dubai .
On the other hand, the UAE offers a higher quality of life with conveniences like quick home delivery of tea and petrol – something unheard of in most countries. The country also pampers residents by providing amenities that are hard to find elsewhere.
Safety and security is another factor attracting former residents back to the UAE. Compared to Canada and the US which have seen a spike in violent crimes, the UAE offers a safe and secure environment.
For South Asian and Southeast Asian expats who migrated for stronger passports, the emotional pull of living closer to home countries is also strong. The UAE’s close proximity to Asia and short flights makes it easier for them to visit families and friends back home frequently.
As per Imran Farooq, CEO of Samana Developers , “There is a kind of reverse migration from Canada, which was among the top migration countries. But now the reverse migration trend has started due to economic slowdown and law and order there.”
The demand for UAE’s 10-year Golden Visa from American and Canadian expatriates is also rising. The long-term residency is a big draw for those looking to move back long-term. As per Farooq, buyers from the Americas now account for 13% of foreign property investors in Dubai, up from negligible levels earlier.
Dubai’s realty market is ripe for returnees, with properties priced attractively compared to other global cities. End-users find it cheaper to buy than rent, especially with mortgages getting cheaper. The overall strong off-pan property demand, rising land prices, and new launches make it a seller’s market.
Danube Group reports that returnees from Canada account for 5-6% of property investors in their projects. Most opt for homes in the sub-Dh2 million price band to qualify for the Golden Visa.
At the end of the day, Dubai represents a dream for many – the chance at a better life. That aspiration remains alive and well. While some leave seeking new horizons, they often discover the grass isn’t always greener. For expatriates who have experienced Dubai’s high quality of living, the pull to return remains strong.
