Dubai is highly popular among foreign investors due to numerous reasons. Whether it is the tallest skyscraper in the world or a luxurious lifestyle you will discover almost everything in Dubai. However, the thriving and progressing Dubai is not just the result of splendid infrastructure or artificial islands but there are innumerable reasons that make it the foremost choice of any investor. If you are interested in the Dubai property market go through 11 important reasons to buy real estate in Dubai. But before that let’s study comprehensively about Dubai and its surrounding.
Besides infrastructure, most investors are oblivious of what are the benefits of investing in Dubai. But for the first time, we are here to offer you a wider and clearer image of Dubai property. So you have more reasons to prefer investing In Dubai. So without any further ado let’s thoroughly examine 11 important reasons to buy real estate in Dubai.
11 Important Reasons To Buy Real Estate In Dubai
No Annual Property Taxes
The major challenge is that when you are investing in a new real estate market you must learn the complicated tax policies. However, when it comes to Dubai real estate you are free of many taxes and additional charges. The tax free policies are not just limited to Dubai but whether you invest in Sharjah or Abu Dhabi the policies remain unchanged. That makes things way easier and straightforward for investors to understand.
The tax-exempt policy was announced to receive foreign investment and to make Dubai the leading in the world. Once you Buy property in Dubai you don’t have to pay any additional fees or taxes. Only the one-off real estate transaction fee is liable to pay. Foreigners are not liable to pay other taxes such as income tax, capital gains tax, and wealth tax. That means the money you make is entirely yours and you won’t have to pay the government.
High Rental Yields
Do you know which real estate offers the highest return on investment? If you are guessing Newyork, London, and Singapore you are wrong. When it comes to the highest return on investment Dubai offers the highest in the world.
The average rental yield in the best performing market in New York is 3.91%, London 3.21%, Singapore 2.83% Hong Kong 2.82%. Where else, Dubai real estate offers the double-digit figure generating up to 10% rental yield. On average the return on investment is not less than 5.82%. That means if the indicators are not positive for you. You can still expect better ROI than many property markets.
Top Notch Infrastructure
The unique strength of Dubai that is immensely popular among the masses is the magnificent infrastructure, bustling mega malls, and fabulous transportation service. Dubai has a world-class infrastructure and lifestyle which is difficult to find in some other places.
Apart from the infrastructure the exception transportation system such as the busiest airport in the world, and the world’s largest longest driver less metro network is the greatest example of advancement. All these amenities and facilities are an indicator that Dubai is a suitable and worthy place to invest. Additionally, due to the sumptuous nightlife, the tourism sector is on the boom. According to the reports, millions of tourists visit Dubai every year.
Safety and Security
You are never too sure about security and safety whether you live in London or Newyork. On the other side, there is a complete sense and protection and security in Dubai. This is one of the primary reasons people prefer to purchase or Dubai rental home. There is no large scale terrorist accident or lack of security in Dubai in the last couple of years. Where else, the other countries in the Middle East have experienced civil war. But Dubai remains undisturbed.
According to many reports that Dubai has been ranked as the safest city in the world. This is due to the very low crime rate and an efficient legal system. Furthermore, inter-city security is entirely maintained by the police that is known for instant service, help, and driving luxury cars. In the last years, no report of theft or robbery was filed in Dubai.
Stable And Mature Dubai Property Market
Foreign investors prefer countries that have an overall sable, vibrant and mature economy. Considering Dubai’s economy it is one of the fastest growing economies not just in the Middle East but globally. In addition, many factors depend on countries overall economy. For instance, if the country has a strong and established economy the price of Commercial property will increase. As more people would wish to set up a business there.
Commercial real estate for sale in Dubai is on the rise in recent years due to the increasing business opportunities. And In upcoming years the demand for commercial property will be sky-high so this is the correct time to invest in commercial properties.
Booming Tourist
Tourism plays a very critical role to upgrade the country’s real estate market. Without a doubt, Dubai tourism is on the rise these days due to many reasons. Most importantly, the government has made easy policy much more feasible so that anyone can acquire a visa in a day or two. Aside from the visa policy, state-of-the-art architecture attracts tourists from around the globe. All these factors draw the attention of foreign investors to buy Land for sale in Dubai.
The Happiness Goals
This might sound unusual to some people that the government of UAE takes special care of their people’s happiness. This reason doesn’t directly influence Dubai’s real estate market but it motivates expats’ and foreigners’ decisions. The government takes initiatives to make the lives of its residents better and keep them happy.
To increase the happiness ratio and satisfaction level of Dubai residents the government implemented several programs.
Growing Population
Another reason that you must invest in the Dubai property market is the increasing population. Currently, Dubai’s population is increasing at a rate of 10.7% annually. And in the upcoming years, the population rate will be double due to many reasons. Among the reasons, the most crucial reason is the better standard of living that every person wishes. Apart from this, easy visa policy, rapid economic growth, safety, regulations, and architectural beauty grab the curiosity of foreigners.
Talking from an investment perspective, when you invest in a place where the population is increasing at a rate of double figures you may expect a higher rate of return. In contrast, if you invest in a place where the population is decreasing and people are migrating there are chances that you may suffer a huge loss. To settle down the increasing population there are currently hundreds of housing projects that are already constructed and many are under construction.
UAE Property Visa
Not many countries or city offers property visa but when you buy Houses for sale in Dubai you have the chance to obtain a property investor visa. But before that, you have to meet the criteria. For example, to become eligible for a resident visa you have to purchase Properties for sale in Dubai worth at least AED 1 million, there should be no mortgage against your property and it should be completely habitable. Thus once you acquire a property visa you have access to Emirates ID and UAE Driving License.
Variety of Options
Investors have countless options when it comes to investing in Dubai real estate market. So anyone who is investing in Dubai can experience diverse living style. Dubai has a vast collection of Luxury villas for sale in Dubai, apartments, townhouses, farmhouses, and commercial properties. Considering Commercial Real estate for sale in Dubai you can purchase offices, retail shops, showrooms, warehouses, etc.
If you are wondering that you cannot purchase an average house in Dubai due to low income. You don’t need to worry! Dubai has to offer everything in an affordable price range.
Low Acquisition Cost
Another reason that supports why you should Buy homes for sale in Dubai is the lower acquisition cost as compared to other developed real estates. If we compare Dubai with New York and London we get to know that price per square foot in London and New York is USD 3200 and USD 1700 respectively. Whereas, the average price per square foot in Dubai is USD 468. Therefore this is one of the critical factors and cannot be ignored.
Conclusion
The article provides 11 important reasons To Buy Real Estate In Dubai so if you have any questions in your mind. Go through the article above as it provides you with helpful knowledge about Dubai. Once you have finalized your decision to purchase Homes for sale Dubai you must get in touch with a Real estate broker or agent.
To save time and effort contact Time homes real estate as they offer services Buy Real Estate In Dubai and related to real estate and properties. They have a team of Top real estate agents in Dubai who can help you find the perfect property for your needs.
