Luxury LivingNovember 21, 20203 min read

A Year That Reset Priorities for Homebuyers

Space, wellness, community and flexibility now top buyers' lists. How 2020 changed what people want from a home in Dubai and what may last.

Michael Chen

Director of Research

Previously with Knight Frank's Global Research team. Michael brings deep expertise in cross-border capital flows and emerging market real estate dynamics.

2020 has changed what people want from their homes. In Dubai, as around the world, months of restrictions and remote working have pushed lifestyle factors to the top of buyers' lists. As the year ends, the market looks very different from how it began, with villa communities and prime areas seeing strong activity.

New priorities

Space: extra rooms and larger living areas.
Outdoor areas: gardens, terraces and pools.
Wellness: parks, gyms and walking paths.
Community: safe, friendly neighbourhoods.
Flexibility: homes that adapt to work and family life.

Effects on the market

Villa communities have seen strong demand, while some apartment segments remain softer. Prime and lifestyle-led areas are leading activity.

Policy changes

Reforms such as the remote work visa, wider eligibility for long-term visas and changes to business ownership rules are making Dubai more attractive to new residents.

What may last

Some priorities, such as home offices and outdoor space, are likely to remain important even as life returns to normal.

Looking ahead

With Expo now scheduled for October 2021 and vaccination programmes beginning, the outlook for 2021 is cautiously positive.

Full foreign ownership of businesses

Recent changes allowing foreigners to own businesses fully onshore in many sectors, without a local partner, are a significant reform. Previously, many companies outside free zones required a UAE national shareholder. The change makes it easier for entrepreneurs and international firms to set up in Dubai, potentially increasing business formation, employment and demand for both offices and homes. For property, more business owners committing to the city means more residents with long-term plans and the means to buy. Together with visa reforms, this strengthens Dubai's appeal as a place to build a life and a business rather than simply a place to work for a few years.