Key factors
Economic Growth (2023) : 3.5%
Economic Growth (2024 forecast) : 3.9%
Fragile State Index (2024) : 34.7
GDP per capita : +0.76%/year
Inflation Rate : 2%/year (average)
Income Tax : 0%
Real Estate Income Tax : 0% (long-term or seasonal)
Family Donation Tax : 0.125%
Corporate Tax : 9% (on profits exceeding 375K AED)
VAT Rate : 5%
Frequency of Rent Payments : quarterly, semi-annually, annually
Rental Contract Duration (lease) : 1 year (renewable)
Increase in Rent Costs (2023<2024) : +25%
Increase in Property Value (2022<2023) : +11.5%
Population (2024) : 3.5 Millions inhabitants
Population (2040 forecast) : 5.8 Millions inhabitants
Population Growth (2019-2024) : +8%
Tourists (in 2023) : 17 Millions visitors
Real Estate Bubble Index : 0.14 (fair valued)
Real Estate Transaction Value (H1/2024) : 61 Billions AED
Off-plan Real Estate Transaction Value (H1/2024) : 20.5 Billions AED (July 2023 < +20.4%)