Dubai is one of the most appealing locations to purchase property because of its tallest skyscrapers, record-breaking statistics, and ubiquitous luxury. In addition, Dubai is poised for significant economic growth in the following years, drawing international talent, more foreign direct investment, and even more spectacular projects.
We’ve compiled a list of the top 4 reasons why Dubai is a great place to invest in real estate.
There are no yearly property taxes
Dubai has no property or capital gains taxes, making it the most fabulous location to invest in the world. In addition, following the acquisition of a property, owners will only have to pay the one-time real estate transaction charge.
Outstanding monetary benefits
Dubai is the world’s fifth best-performing economy. The Emirate’s administration is committed to making the Emirate globally competitive by adopting new policies that enhance the business climate and encourage long-term development.
Those who invest in Dubai real estate benefit from flexible payment plans customized to their financial situation, with an interest rate of 4.5 percent for residents and 5.5 percent for non-residents. Dubai provides unrivaled financial stability with an unrestricted remittance limit and a highly stable currency linked to the dollar.
Investors like Dubai because it is rapidly becoming a viable investment option, with simple departure and, in many instances, a guaranteed 10-year visa.
As the Emirate’s population grows, so does the need for additional housing. As a result, Dubai is expanding year after year, and the market is developing to include significant projects from well-established developers.
Exceptional return on investment
In JLL’s study titled “World Cities: Mapping the Pathways to Success,” Dubai recently ranked first among “Hybrid” Cities for real estate investment.
According to the study, Dubai is the finest example of a hybrid city. These cities are typically medium-sized and compete in niche markets while also having access to larger domestic markets. Dubai’s location on the globe, as well as its unmistakable luxury status, demonstrate the city’s long-term viability and dominance in the global real estate market. Compared to other national and regional candidates, Dubai ranks among the world’s “developing cities” and “new global cities” as a city with better liveability.
Despite the market’s apparent slowdown, buy-to-let investors in Dubai may expect better rental returns than other mature property markets. According to experts, Dubai’s real estate market is experiencing a “correction” that will result in a more steady and consistent supply of high-quality houses.
Due to investors’ unwavering faith in Dubai and its promised infrastructure development, the real estate industry in Dubai is expected to begin a smart comeback in early 2021. Dubai’s excellent infrastructure, according to the government, is one of the city’s greatest assets.
Therefore, one of the essential things to consider is why to invest in the Dubai real estate industry in 2021, given the steady increase in construction. Dubai is one of those places with excellent infrastructure and good quality of life constantly improving.
Dubai is home to some of the world’s biggest, tallest, and swankiest structures, including the Burj Khalifa and the world’s most beautiful artificial island. Dubai International Airport claimed to be one of the busiest airports by looking at its passenger volume just before the Covid-19-induced epidemic that led to the lockdown.
In addition, Jabel Ali Port is the world’s biggest artificial port when it comes to seaports. Any smart investor should be able to see why they should invest in Dubai based on these factors.