Why Is Dubai A Safe Haven For Property Investors?
- Created Date 2023-08-19 14:08:18
Dubai's infrastructure has witnessed a significant expansion in the span of just a few decades. Dubai is currently considered as the "City of the Future" by both residents and investors as a result of its incredible makeover. Dubai is a popular choice for real estate investors from all over the world because to its world-class real estate developments and clear, inclusive, and complete development ambition.
This article is for you if you're considering buying real estate in Dubai. Follow us as we examine the reasons Dubai is a refuge for prudent real estate investors.
1- A steadfast city
It is well known that the coronavirus epidemic, especially at its height, slowed down the world economy. Like any other global economic powerhouse, Dubai was also impacted. Dubai didn't lose its attraction as a top choice for investors, though, thanks to the government's swift and decisive response to the Covid-19 outbreak, lucrative investment choices, and a number of government policies and initiatives. Dubai's economy has recovered successfully from the crisis as a result of all of this, and everything is now in position for it to develop into a futuristic city. These significant figures demonstrate that Dubai's real estate sector is back on track and set for strong growth.
1.Despite the coronavirus outbreak, Dubai's real estate market has experienced record-breaking sales in recent years.Real estate prices increased by a staggering 60% as of 2021. Additionally, according to real estate specialists, the property market will keep growing through 2023 and beyond. This proves that today is a fantastic moment to invest in real estate in Dubai.
2.Compared to other developed real estate markets throughout the world, Dubai's real estate offers higher rental yields. Investors should fairly anticipate a gross rental yield of 5% to 9%.
3.Owning a property in Dubai is still less expensive than purchasing one in many other major cities across the world, despite the current spike in real estate prices.
2- Political constancy
Political stability in Dubai makes it a desirable location for investments. Although many other nations in the Middle East might not be described as beacons of peace, the UAE is one of them.
3- For real estate investors, obtaining a residency visa in Dubai is comparatively simpler.
Subject to specific requirements, those who invest in real estate in Dubai may be granted a residency visa.
1.You may qualify for a 3-year resident visa if you purchase a property worth more than AED 1 million.
2.An investor who purchases a home worth more than AED 5 million may be qualified for a 5-year resident visa.
3.Real estate investors may be eligible for a 10-year resident visa if they purchase a property valued more than AED 10 million.
For the most up-to-date requirements, we advise you to frequently visit the official immigration authority website in Dubai.
4- Favorable tax circumstances
Dubai is a popular destination for international real estate investors due to its favorable tax regulations. For instance, the virtually non-existence of property taxes and stamp duties—which are typically imposed in most international real estate markets—can aid in lowering the cost of property ownership in Dubai.
5- Governmental rewards
The UAE government has always prioritized business expansion and supported creative strategies to increase Dubai's appeal to foreign investors. The government has implemented a number of investor-friendly policies, some of which are:
1.In the majority of sectors, there are businesses with 100 percent foreign ownership.
2.The five-year retirement visa
3.Investors' long-term visas are in bold.
The confidence of international investors has grown as a result of these proactive measures. Given all of this, it should come as no surprise that the Dubai real estate market registered transactions worth AED 24.5 billion in the first half of 2020, despite the coronavirus pandemic. The government is also making several efforts to modernize and digitize the Dubai real estate market. The Real Estate Self Transaction (REST) was introduced by the Dubai Land Department in 2018 in accordance with this approach. Aside from real estate market services, the REST platform handles all real estate transactions, including buying and selling. It eliminates a lot of the restrictions that come with non-digitized transaction processes. For instance, property owners can now buy and sell properties from anywhere in the world owing to REST. Customers may control every part of a real estate transaction online, saving them time and effort.
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Published Date
2023-08-19 14:08:18