Dubai has transformed from a temporary destination to a permanent home for the world’s wealthy, with millionaire migration reaching unprecedented levels, a new research reveals.
The UAE now ranks as the 14th largest wealth market globally, housing 130,500 dollar millionaires—reflecting a 98 per cent surge over the past decade, according to the Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth report by Betterhomes.
“Dubai’s real estate market is no longer driven by speculation, but by strategic, long-term capital. We are seeing global wealth not just arrive, but anchor itself here, in branded residences, legacy properties, and high-quality developments built for permanence,” Louis Harding, the CEO of Betterhomes said.
Dubai to welcome 7,100 new millionaires in 2025, bringing $7.1 billion
2024 marked a significant peak in global millionaire migration, with over 134,000 individuals possessing at least $1 million in liquid investable assets relocating across borders. Forecasts for 2025 suggest this figure will rise to approximately 142,000.
If even 5 per cent of these millionaires choose Dubai, the emirate would welcome an estimated 7,100 new millionaires, representing a potential inflow exceeding $7.1 billion (AED26 billion)—equivalent to nearly half of Dubai’s total foreign direct investment for 2024.
Chinese wealth leads exodus to Dubai as UAE economy projects 5% growth
The capital influx comes from diverse origins:
- East Asia, including Chinese entrepreneurs establishing offshore holdings
- Vietnamese investors diversifying against uncertainty
- Turkish and Argentinian wealth seeking refuge from currency depreciation
- British and American individuals pursuing capital preservation and growth
Dubai has secured its position through a combination of factors whilst legacy cities struggle:
- Favourable tax regime and political stability
- World-class infrastructure and safety
- Strategic location providing access to global markets
- Strong economic growth projections
The UAE demonstrates exceptional economic resilience, with GDP growth expected at 4 per cent in 2025, reaching 5 per cent in 2026 and stabilising at 4.7 per cent in 2027, while maintaining consistent inflation at just 2 per cent.
In contrast, the Euro Area is projected to grow at a modest 0.8 per cent in 2025, inching up to 0.9 per cent in 2026 and 1.1 per cent in 2027.
Dubai home to 237 centi-millionaires as global wealth seeks safe haven
Despite a four-and-a-half-year boom, the city’s luxury property prices have yet to reach their 2014 peak. Unlike previous cycles driven by speculation, current growth stems from genuine end-user demand.
Year-to-date, villas and townhouses have recorded AED53.3 billion in sales, a 50 per cent year-on-year increase.
Palm Jumeirah leads with 35 transactions totalling AED1.4 billion, followed by Emirates Hills with 19 deals valued at AED1.3 billion.
Dubai has redefined property acquisition by intertwining real estate with identity, curating branded ecosystems that resonate with high-net-worth individuals.
For two consecutive years, Dubai has led the global market in sales of homes priced above $10 million, outpacing traditional hubs such as London and New York.
Currently, the emirate hosts approximately 81,200 resident millionaires, including 237 centi-millionaires and 20 billionaires. This population is forecast to double by 2035.
Industry experts note that Dubai is not simply attracting wealth but embedding itself within the infrastructure of global affluence, representing a structural realignment rather than a speculative bubble.
