Is Real Estate a Good Investment in 2023?

Real Estate Investment in Dubai in 2023 can be beneficial for any investor for variety of reasons. Dubai has been doing exceptionally well in the post pandemic economy. The real estate market in Dubai has been particularly booming. The strong and powerful economy has attracted many investors across the world.

Many countries have not made it back completely from the global covid crisis yet. This has led to foreign investors to move and put their money into investing in a more stable and secure economy such as Dubai. Let us discuss more on why real estate is a good investment in 2023.

The global crises led people to move into Dubai the past few years. Being one of the few cities in the world to be open for travel and tourism while maintaining the safety of the tourists after the peak pandemic season, a lot of European prospects flew to Dubai as a tourist to enjoy but saw investment potential in the city. This potential led the investors to move into Dubai from their home country or buy property as an investment in Dubai. Many visitors loved the city as a tourist spot and purchased their new holiday homes in Dubai.

Apart from Covid, The Russian – Ukraine crisis was also responsible for creating a boom in the real estate market in Dubai. Many Russian investors started pouring their Russian Ruble into the Dubai Property Market as a safety investment. The Russians were the top foreign investors in Dubai in 2022. The Russian’s involvement is the Dubai property market is set to increase further in 2023.

According to an AI based research done by Realiste, Dubai is one of the top cities to invest in property with a 2.4% monthly growth in price.

Dubai’s real estate is termed as an inexpensive investment opportunity with great returns. With surplus of properties, both ready to move in and off plan projects, there are a plenty of options available at competitive prices.

Why to Invest in Dubai in 2023?

• Good ROI

Dubai attracts people from all around the world for tourism, education, and businesses. As more and more people move into the city, there will be more tenants or investors. The continuous increase in residents in Dubai will yield high rental activity resulting in a much lucrative cashflow through property investment.

• Golden Visa

Investors who buy property worth AED 2 Million or more can avail the Golden Visa in UAE. The Golden Visa is a special long-term visa given to investors, students, artists and entrepreneurs to study or work in UAE without a sponsor. There are a few special

• UAE is a Tax-Free Country

One of the most amazing facts that makes Dubai an enticing city to invest in is because of its tax-free factor. UAE is a tax-free country. The country does not extort money from its investors in the name of tax. There are no annual property tax, income tax, or capital gains tax. This allows the investors to buy property at a lower price compared to other countries.

• Safe and Secure

Dubai runs a pretty tight ship when it comes to the security of its residents. The city has very low crime rates as a result of a strong and powerful security and legal laws. The UAE economy has a powerful and safe infrastructure as well. Your money and your lives are perfectly safe in the city of Dubai.

• City of Innovation

Dubai is always coming up with something new. Dubai is a city that pushes themselves to become better every day. A new project, a new event or a new record-breaking activity is achieved by the city every now and then. Dubai never fails to go beyond its potential every time. What other countries consider impossible; Dubai considers that to be just another graceful accomplishment. For Dubai, the impossible is the new normal and that’s what makes the city so commendable.

There are many factors that are responsible on how to invest in Dubai Real Estate in 2023. The kind of property you want, whether a ready project or an off-plan project, the budget, the bank interest rates etc.

Which Area is Best to Invest in Dubai?

The entirety of Dubai has amazing real estate investment opportunities, but some of the best areas to invest in 2023 are as follows:

• Jumeirah Village Circle: JVC has a tranquil environment with a luxurious apartments and villa Jumeirah Village Circle provides a calm family friendly environment closely accessible to the city.
• Mohammed Bin Rashid City: MBR City is a development by HH Sheikh Mohammed Bin Rashid Al Maktoum with world’s largest man-made lagoons. A family friendly community having luxurious apartment, mansions and villas with two international schools. The community is surrounded by restaurants, shops and many more entertainment and lifestyle options. MBR City creates a well sought modern community amidst the day-to-day bustle.
• Damac Lagoons: Live a life on Dubai’s paradise at the Damac Lagoons. The lovely hidden location is nestled in Damac Hills. Damac Lagoons provide a Mediterranean themed community that makes you feel like you are on a vacation every day. A lavish European lifestyle can be experienced in Dubai.
• Sustainable City: An environmentally friendly community for you and your family to live and stay connected to the essence of nature in Dubai. The community is devised in a manner that provides the residents utmost luxury and facilities without compromising the resources of the future generations.

Conclusion

The value of real estate in Dubai is increasing rapidly and will continue to increase for a couple of more years. The competitive price due to over supply of projects can be taken as an opportunity for investors to invest in Dubai property as soon as possible at great prices. Real Estate is a good investment in Dubai as the value of these properties are only to rise in the future. The lavish lifestyle and the glamorous night life in Dubai is also why you should invest in Dubai real estate. For more information on how to invest in real estate, hop on our blogs.