In the first six months of 2021, Dubai’s real estate market grew rapidly and appreciated by almost 40%. With the recent announcement that investors will receive 10-year visas, the total investment in Dubai is expected to be monumental by the end of this year.
In this blog we explain why investing in Dubai is important, especially when attending major events such as Expo 2020 which is expected to attract millions of visitors from around the world. Experts see it as a turning point in the event of a pandemic, and as the world turns its eyes to Dubai, potential investors should be prepared to park their savings in its real estate sector.
We have listed down some of the benefits that are available to investors who plan to invest in Dubai in near future.
High Rental Yields
Compared with many of its counterparts around the world, including New York City, Hong Kong, and London, Dubai offers high returns on real estate investments. You can expect yields of up to 8% per year, which are double-digit in certain areas and for certain properties.
Quality of Life
The high quality of life, low crime rate, good roads and a large number of retail outlets are just some of the many reasons why people are moving to Dubai. Dubai is considered one of the safest cities in the world due to its low crime rates and efficient legal system. The government believes Dubai’s impressive infrastructure is one of its greatest strengths.
Although Dubai is considered to be one of the best investment destinations in the world, its real estate market offers attractive options in various segments such as residential property, hotels, room service, apartments, etc. This makes it attractive for people from all over the world to come to Dubai and work and invest in real estate. Dubai real estate is open to investors from around the world through the local stock market.
The expo will last six months and millions of visitors will have to rent out the property. Investors who buy the property during the Expo receive a high return.
Tax free economy
Favourable tax conditions, particularly the absence of property tax and stamp duty, which are in other global property markets, make the city an attractive investment environment. Property prices per square metre are lower than in many other cities, making it an affordable location to own prime properties.
Your residence in the UAE entitles you to many other advantages as a foreign investor. All investors can apply for a residency visa if they hold property over AED 1 mn. This comes with its own set of rules and regulations which you can read about here. UAE recently announced that investors will be able to obtain a 10-year residence visa.
It is advisable to work with Dubai real estate experts who are familiar with Dubai’s real estate market, its trends and promising projects to reap the ultimate benefits. Choosing the right agent and choosing the right property in Dubai can make homeownership a rewarding experience.