Dubai has emerged as one of the most affordable major cities for buying a home. The finding comes from a UBS report covering 23 major global housing markets.

The report compared housing affordability across major cities worldwide. It examined how many years of average income are needed to purchase a home.

Dubai requires around five years of average income for a 60-square-metre apartment. The property is assumed to be located near the city centre.

This figure is significantly lower than several other major housing markets. In Hong Kong, buyers need around 15 years of average income.

London requires about 11 years of average income for a similar property. The comparison highlights the difference in housing affordability across global cities.

Dubai also performs relatively well when housing prices are compared with rents. The UBS report estimates that around 16 years of rental income cover a home’s purchase price.

This measure provides another way to assess housing market affordability. It compares the cost of purchasing a property with the income generated through rent.

The findings place Dubai among the more affordable markets in the UBS comparison. However, affordability can vary depending on property location and individual income.

The five-year income figure applies to a specific apartment size and location. Housing costs can differ considerably across different areas of the city.

Dubai’s property market has attracted international buyers and investors in recent years. The city offers a wide range of residential properties across different price segments.

The UBS comparison focuses on major global housing markets. It provides a broader view of how property prices relate to local incomes and rents.

The report’s figures also show major differences between global cities. Hong Kong stands at around 15 years of income for the specified apartment.

London follows at approximately 11 years. Dubai’s figure stands at around five years under the same comparison.

The price-to-rent measure provides another perspective on the Dubai housing market. Around 16 years of rental income are needed to match the purchase price.

These figures do not mean every property in Dubai is equally affordable. Individual prices depend on factors such as location, size and property type.

The UBS report offers a city-level comparison rather than a measure of every neighbourhood. It therefore provides a broad picture of housing affordability.

For potential buyers, income levels remain an important factor in assessing affordability. Mortgage costs, taxes and other ownership expenses can also affect actual costs.

Dubai’s position in the report reflects its relationship between property prices and average local income. It also highlights the city’s position compared with other major international markets.

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The findings provide a snapshot of global housing affordability. They show how the cost of purchasing residential property varies across major cities.