Dubai is a wonderful city from all aspects. It’s known as a heaven for real estate investors due to the outstanding features it offers. Enclosing all benefits of investments in Dubai real estate sector in one article isn’t possible, but I will try my best to include top perks.
1.Economy is Strengthening Day by Day
Remember, when you are investing in a country’s real estate sector means you are investing in its economy too. The economic growth of Dubai is improving at a faster pace and the city has emerged out as champion of economic growth in MENA region. People from all over the world are interested in buying property in Dubai that has made it the 5th largest growing economics in the world.
2. Impressive Development
Innovation is the top priority of Dubai Development Authority that boosts the beauty of the city and also attracts people from all over the world. You find a lot of wonders in Dubai including the World’s tallest building Burj Khalifa, well-designed shopping malls, and greatly structured road system.
3. Ministry of Happiness
Yes, you read it right! Dubai has a Ministry of Happiness which is responsible for taking such actions which bring easiness for residents and make them a happy citizen. It also plans how to improve the lifestyle of the people and make them happier than ever.
4. Foolproof Security
Lack of security multiplies every benefit of the city with zero. That’s why Dubai police and security agencies never compromise over it and offer flawless security arrangements to tourists and residents. Dubai Police is prompt, well-trained, and capable to maintain peace in the city. Road accidents, robbery, and theft are rare cases in Dubai and all thanks goes to its police.
5. Easy Laws for UAE Property Visa
Dubai has feasible visa policy for investors. You become eligible for residential visa on buying property worth AED 1 million and enjoy all citizen rights. However, the property must not be on mortgage and should be completely habitual. Apart from the visa law, property transfer process is also very simple and easy to follow.
6. Unlimited Property Options
Property types and options are limitless in Dubai. From luxurious villas to lavish apartments, you find everything along with all living amenities. Usually, the property is categorized as residential property and commercial property and the rates depends on the facilities it offers and location. Villas, apartments, pent houses, and basements are some options you find in residential property while commercial property options ranging from shops, offices, and industrial areas.
7. Affordable Acquisition Cost
Unlike the other luxurious cities of the world, Dubai has quite lower rates on per square foot. For example, if you want to buy property in Dubai, then the average rate per square foot is USD. But, per square foot rate of property for London is USD 3, 208. Whereas, the rates of the same property for Hong Kong, New York, and Singapore are USD 2,000, USD 1,500, and USD 1200 respectively.
8. Higher Rental Returns
It’s not surprising that the rental rates for Dubai is much higher than the other parts of the world. Popular investment areas of Dubai are generating 10% rental yield which is much higher than New York, London, and Singapore which are 3.91%, 3.21%, and 2.83% respectively. Similarly, good capital appreciation rate is another big reason for investment in Dubai. Those who invested in tech startups and real estate sectors didn’t take longer to get success in their respective fields.
9. Amazing Amenities
Dubai is a well-planned city where every building has impressive architecture and a purpose. From parks, sanitary, and security facilities to shopping centers, education, and health services, you find everything at arm’s distance. Quality lifestyle is visible in every residential area irrespective of its category.
10. Tax Free Property
Dubai Land Department offers tax free property which means you don’t have to pay anything to government after paying registration fee and the property price. On the other hand, the lavish cities of the world such as Hong Kong, London, and New York demand 15% annual tax, 13% annual tax, and 2.2% annual tax respectively.
What do you need more? Don’t waste time in thinking and get maximum benefit from the amazing opportunity and invest in the world’s most rapidly growing economy. Update your lifestyle and move ahead towards a prosperous future.