Dubai real estate market

The real estate market in the United Arab Emirates (UAE), particularly in Dubai, is booming. Dubai is considered a "Land of Opportunity," suitable for all types of investments, regardless of scale.

The real estate market in the United Arab Emirates (UAE), particularly in Dubai, is booming. Dubai is considered a "Land of Opportunity," suitable for all types of investments, regardless of scale.

To gain a better understanding of the Dubai real estate market, its potential, and opportunities, we spoke with Ms. Dao Thi Luong, a licensed real estate broker in Dubai and a member of Blue Collection Real Estate LLC, a leading and reputable real estate brokerage firm in Dubai.

Ms. Dao Thi Luong - Real Estate Consultant in Dubai, Member of Blue Collection Real Estate LLC

In recent years, I understand that most Vietnamese investors turn to you when they need to invest in real estate in Dubai. Could you share with us how you've earned such trust?

I have lived and worked in Dubai for 12 years, and have had many opportunities to interact with Vietnamese people worldwide. In fact, my clients are not only Vietnamese people from Vietnam, but also Vietnamese expatriates from the United States, Europe, and even Hong Kong.

When advising any investor, I always research their needs and expectations to help them choose the best product. And in fact, to date, my clients have received the value they expected from my advice. This may be the main historical reason why I have earned their trust.

So, in your opinion, what are the significant advantages of investing in real estate in Dubai compared to investing in Vietnam or Australia?

First, I can confirm that investing in real estate in any of the three markets—Vietnam, Australia, and Dubai—offers opportunities for profit. The profit margin in each market may differ only slightly, but there are some very important issues to consider, namely policies, transfer fees, and taxes.

In Vietnam, every time a property is transferred, both the seller and the buyer are subject to mandatory taxes. These taxes inevitably increase the property price after each transaction. Similarly, in Australia, they have a clear policy that selling a house to a foreigner will fetch a higher price than selling it to a local resident. Therefore, a Vietnamese investor will find it difficult to compete with a local investor. In my assessment, real estate in Australia prioritizes residential living over investment for profit, not to mention the various taxes and fees imposed by the Australian government .

In Dubai, you only need to pay an initial tax of 4% of the purchase price, and subsequent transactions are very easy because Dubai's management system is very advanced; transactions take place quickly, and property rights are absolutely guaranteed by the government.

The Damac Island Dubai project is distributed by Blue Collection Real Estate LLC.

What is the daily transaction volume at your company? And what countries do the investors typically come from?

In 2024, we averaged 3 to 5 transactions per day for segments A, B, and C. Our clients are primarily located in Europe or the United States, including Vietnamese expats and a small number from Vietnam.

Could you share some of the advantages and disadvantages of advising Vietnamese clients, especially when Vietnamese people buy houses in Dubai?

Most Vietnamese investors are very cautious, and their biggest concern is the legal information regarding Dubai. In fact, Dubai's legal system is very transparent and progressive; its administrative processes have been fully digitized, making transactions very convenient.

Another issue is the investment habits of Vietnamese people, as most real estate investors prefer to see the property in person, while Dubai is quite far away. Furthermore, this is a large-scale investment, so this habit can sometimes hinder and cause missed opportunities. Of course, as consultants, we have the information and experience to resolve any difficulties for our clients, and in fact, through us, Vietnamese clients have found buying and selling very convenient.

The Palm-Jebel-Ali project is distributed by Blue Collection Real Estate LLC.

Could you share a little bit about your biggest transaction to date?

This year alone, I've broken two transaction records in the villa segment. Earlier this year, I advised on the sale of a villa over 700 square meters worth approximately $8 million USD, and more recently, a 1,200 square meter beachfront super villa valued at around $10 million USD. As for apartments, my largest transaction was a high-end penthouse in downtown Dubai, sold for $12 million USD to a Vietnamese-American.

That would be a dream come true for any consultant. Could you share a little about your plans for 2025?

In 2025, we have quite a few plans, including business expansion and possibly opening representative offices in Vietnam to better support our domestic customers.

In addition, I will also give more presentations to introduce the potential to Vietnamese customers, helping Vietnamese investors get the most accurate information to make optimal choices for their investments.

Through a brief conversation with you, I found the Dubai real estate market quite interesting. I hope to see you again soon in Vietnam. I wish you good health and even greater success.

Source: https://baodautu.vn/batdongsan/thi-truong-bat-dong-san-dubai---vung-dat-cua-nhung-co-hoi-d237409.html