Dubai ranks top for luxury homes in wealth index

Emirate included in new list of world's top 11 places for 'mobile wealthy' individuals.
Dubai ranks top for luxury homes in wealth index
LUXURY LIVING: A top villa on Dubais Palm Jumeirah is one of the reasons why wealthy people want to live in the city.
By Andy Sambidge
Thu 14 May 2009 12:09 PM

Dubai has the best choice of quality homes in the world to attract wealthy professionals to its shores, according to a new survey.

The emirate was one of 11 destinations rated in a list of the most attractive places for international wealthy individuals and their families and it scored highest for luxury housing.

The research by Scorpio Partnership, a business strategy advisor to the wealth management industry, has developed the world’s first index judging the attractiveness of the most popular financial centres/cities to the “mobile wealthy”.

The top destinations around the world include Switzerland, London, Singapore, New York, Hong Kong, Jersey, Cayman, Isle of Man, Monaco, Dubai and Guernsey.

Overall, Switzerland came out of top, closely followed by London while Dubai trailed in 10th place, above Guernsey.

But the city did rank highly for top-end real estate options and for having a high concentration of wealthy people, the report adds.

However it propped up the list in four of the categories including economic and political stability, education and culture/infrastructure.

Stephen Wall, director of Scorpio Partnership, said the report showed wealthy individuals were choosing where to live on a far wider range of factors than just tax issues.

The Mobile Wealthy Residency Index (MWRI) is a ranking of the 11 centres consistently described by the mobile wealthy and their advisors as the most attractive locations in which to live and work.

“The majority of the mobile wealthy are professionals such as doctors and dentists, architects, lawyers, accountants, entrepreneurs and financial services executives and they represent the largest section of the mobile wealthy, whose views were consulted by Scorpio Partnership before the creation of this report,” the report added.

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