Real Estate Investment in Dubai:
With this article, we aim to simplify the decision-making process for our readers looking towards real investment in Dubai.
Unlike its neighbors such as Abu Dhabi, Dubai is not gifted with enormous oil wealth. So, its main source of wealth has historically been a port. But in the past years, it has diversified its options in order to facilitate economic development. These options range from Property development & luxury tourism to building impressive hotels such as the Burj al-Arab.
If you wish to make a real estate investment in Dubai then it is essential that you also have knowledge about the reasons causing the increase in property prices. Dubai’s laws allow foreigners to own freehold property & the landowners also receive a residence visa for 3 years.
Below are some of the prompting reasons to invest in the UAE Real Estate:
Since the day one of Dubai’s development, it has been a family-friendly city. Each and every community here is well designed and planned. There are no exceptions in any society, in terms of building public parks, supermarkets, leisure spots, nearby shopping malls & cinemas, etc.
Dubai has in its heart a will to keep its streets & communities clean round the clock. Take for example, thousands of people use public transport on New Year’s Eve & all gather in downtown Dubai to witness the biggest fireworks show from the tallest building in the world, aka Burj Khalifa. On each 1st January morning, you won’t find a single piece of tissue paper on the streets.
Dubai boasts of healthcare, educational & recreational facilities that match global standards. There is a widespread network of medical centers, public & private hospitals, and the city also boasts of the best schools & colleges, as well as major international universities that have established their campuses there.
Each and every community in Dubai is very well connected and covered with the public transportation network. The epicenter of the public transportation network being the Dubai Metro, a driverless train/tube service.
We all know that public security round the clock plays a critical part in the development of any economy. No local or foreign investment will survive in an unsafe city.
Dubai is no doubt one of the most secure cities on the globe. Dubai police are popular for their law & order maintaining skills and supported by strict regulations, Dubai is also safe from offshore threats.
For Those Who Wish To Buy Property In Dubai For Holidays
With the increase in disposable income globally and supported by above mentioned prompting reasons. The concept of Holiday Homes plays a crucial role in the thriving property market of Dubai.
Some of the favorite destinations for Holiday Homes being:
Palm Jumeirah, Dubai Marina, Jumeirah Beach Residence and downtown Dubai (Burj Khalifa district).
A Holiday Home Purchase Has Its Own Perks In Dubai
Eligible For A Resident Visa
When you buy a property in Dubai, you become eligible for a resident visa. The minimum amount you need to invest should be equal to or above Dh 1 million. If you’re a frequent flyer to Dubai, then this resident visa allows you unlimited entries & exits from the UAE until its expiration date. This visa can be renewed at the time of expiration.
Wondering how to become a real estate investor in 2019? Get help.
No Property Tax
Property investment in Dubai attracts no property tax from the government. So, you do not need to rent your property to cover that expense and it is always at your disposal every time you visit Dubai.
Sunny Weather Round The Year
Dubai is located at such a point on the globe that lets you enjoy sunny weather round the year, with just a few rainy days. Most of Dubai’s sunny beaches are within walking distance of your property.
Buying Property For Investment Purpose
Each and every good businessman knows that only a thriving business can give you a good disposable income. So, in most cases, people from all across the world buy property in Dubai to secure their future financially. Make a one-time investment and let them grow while you enjoy the benefits of yearly rental income if you ever make your mind to rent your property.
No Property Tax
Dubai has a no property tax clause no matter how you intend to use it. This facility is not available in hugely popular Business Hubs like Hong Kong, Singapore, London and New York that are located on various continents of the globe.
Higher Rental Yields
According to the Global Property Guide, if you rent your property in Dubai, then your earnings will outperform, your earnings from the properties you’ve rented in Hong Kong, Singapore, London and New York.
To summarize whether you’re a person who just wants a Holiday Home or want to make some big bucks from real estate sector, then you should have a global outlook and look towards Dubai and evaluate the Return on Investment (ROI) on your local options in comparison to the options in Dubai.