Real Estate
The UAE is witnessing a reverse migration trend: More former residents, who relocated to Canada and the US for greener pastures, are returning to the country, industry experts said.
Property developers in Dubai have seen increased investments from such new Canadian and US nationals who used to live in the UAE. They are now buying homes in the emirate to move away from the high taxes, rising cost of living and fewer opportunities in the countries they initially migrated to.
Many UAE expatriates from South Asia, Southeast Asia and Arab countries had migrated to Canada, the US and other Western countries over the past decade in search of greener pastures and to obtain stronger passports. But the public safety and security aspect, quality of life, and shorter flights to see loved ones are encouraging them to return to the UAE.
This has driven higher demand for properties from such expatriates who are mainly end users in the emirate’s residential property market.
