Episode 64: Making the move: insights into Dubai life and real estate

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In a recent episode of Dubai Real Estate Unplugged, Steven Leckie chatted to his client and former UK resident about the city he now calls home.

With Steven Leckie’s podcast partner Paul Sharland enjoying a well-earned break, episode 64 of ‘Dubai Real Estate Unplugged’ had an intriguing twist – a long-time British client, Minesh Pattni, came on as a special guest to talk about his experiences.

Having recently relocated full time to Dubai, the key topics that arose were the benefits of investing in off-plan properties, the cost of living in the UAE compared to London, and the challenges and rewards of adapting to a new culture.

Minesh highlighted the straightforward nature of the Dubai off-plan market as a massive advantage. 

He said this simplicity is further enhanced by Dubai's rapidly developing infrastructure. Unlike in the UK, where location is critical – here, a well-planned metro system and ongoing developments mean that properties in less central areas are still highly accessible.
And in contrast to the UK, where rental yields have been dwindling due to increased taxation and regulatory changes, Minesh said the off-plan market in Dubai offers a lucrative alternative.

"Rental yields in the London suburbs were around 4-5%, but taxes have slashed that in half," he told Steven. 

How does the cost of living compare between Dubai and London?

As someone who has lived in both cities, Minesh recounted his interesting experiences of owning and managing residential properties in the UK, particularly in the Crystal Palace area where he grew up. 

However, he ultimately decided to sell his properties there due to the increasingly challenging environment for landlords in the country.

"Being a landlord in the UK has become very difficult. The regulations are stacked against us. For example, mortgage interest relief is gone, so now we pay tax on rent after covering expenses," he explained. 

He also pointed to the amazing quality of life in Dubai. 

"The convenience here is unbeatable. You can organise everything on a single app, from a handyman visit to a haircut. The efficiency is truly impressive," Minesh said.

Moreover, the level of customer service in Dubai is something that he is super impressed by. 

He said: “In Dubai, services are run like businesses, so they must deliver good service. For instance, after my dog’s grooming appointment, they followed up to check how he was doing. That level of service is something I really appreciate."

Embracing a new culture

For Mr. Pattni, moving to Dubai was not just a financial decision but also a lifestyle choice. However, like any major relocation, it came with its own set of difficulties.

An initial one was adjusting to the pace of life in Dubai, particularly in terms of time management. In the UK, logistics are more reliable; here, you must be more flexible, he said. 

However, healthcare was an area where Dubai exceeded his expectations. Despite initial concerns about moving his elderly mother, he was pleasantly surprised to find that hospitals from back home have branches here. 

Top tip for potential investors

For those considering a move to Dubai or investing in the emirate's real estate market, Mr. Pattni offered podcast listeners his top piece of advice. 

"Visit first. Dubai has changed so much, even in the last few years. Get a feel for the place before making any decisions."