Is Real Estate a Good Investment in 2024?
Real Estate Investment in Dubai in 2023 can be beneficial for any investor for a 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 economy has attracted many investors across the world.
Many countries have yet to return completely from the global COVID crisis. This has led foreign investors to move and put their money into investing in a more stable and secure economy such as Dubai. Let us discuss why real Estate is a good investment in 2023.
The global crises led people to move to Dubai in 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, many 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-19, 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. Russia’s involvement in the Dubai property market is set to increase further in 2023.
According to 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 an inexpensive investment opportunity with great returns. With a surplus of properties, both ready-to-move-in and off-plan projects, plenty of options are available at competitive prices.
Why to Real Estate investment 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 more lucrative cash flow through property investment.
Golden Visa
Investors who buy a property worth AED 2 Million or more can avail of 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 the 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 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 is no annual property, income, 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 due to strong 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 itself to become better every day. A new project, a new event or a new record-breaking activity is achieved by the city now and then. Dubai always goes beyond its potential every time. What other countries consider impossible, Dubai considers that to be just another graceful accomplishment. The impossible is the new normal for Dubai, making the city so commendable.
Many factors are responsible for 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 for Real Estate investment 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:Â JVC has a tranquil environment with luxurious apartments and villas. Jumeirah Village Circle provides a calm, family-friendly environment closely accessible to the city.
- Mohammed Bin Rashid City: MBR City is an HH Sheikh Mohammed Bin Rashid Al Maktoum development with the world’s largest artificial lagoons. It is a family-friendly community with luxurious apartments, mansions and villas with two international schools. Restaurants, shops and many more entertainment and lifestyle options surround the community. MBR City creates a well-sought modern community amidst the day-to-day bustle.
- Damac Lagoons: Live life in Dubai’s paradise at the Damac Lagoons. The lovely hidden location is nestled in Damac Hills. Damac Lagoons provides a Mediterranean-themed community that makes you feel like you are on vacation daily. A lavish European lifestyle can be experienced in Dubai.
- Sustainable City:Â 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 to provide the residents with the utmost luxury and facilities without compromising the resources of future generations.
Conclusion
The value of real Estate in Dubai is increasing rapidly and will continue to increase for a few more years. The competitive price due to the oversupply 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 these properties’ value will only rise in the future. The lavish lifestyle and the glamorous nightlife in Dubai are also why you should invest in Dubai real estate. For more information on how to invest in real Estate, hop on our blogs.
