Investing in Dubai Real Estate is a keystone to wealth.
Dubai is one of the fastest growing cities in the world with a population growth of 1000% in over 40 years. Dubai Population in 2022 is 3.49 Million according to official Dubai Government website, of which majority are expats from over 190 countries. This is projected to be doubled in the next decade.
Besides being known for its iconic skyline, opulent lifestyle, and record-breaking stats, Dubai has built its reputation as a top investor hub. That being said, Dubai has certainly been put to the test given the unpredictable market conditions the entire world encountered during the global covid-19 outbreak.
Despite all the chaos, the emirate remained resilient throughout, given its successful post-pandemic strategy, as well as social and economic reform, reinforcing its position as one of the most appealing cities for investment opportunities.
As the city has transformed into a leading smart and sustainable destination, here are reasons why you need to invest in Dubai
- Fast-Paced Economy
One of the reasons you need to invest in Dubai is the “booming economy”. As the strategic midpoint between the East and West, Dubai conveniently serves as a major regional investment hub for businesses who want to expand in either, or both, directions. Thanks to its highly diversified and stable, with revenue generated from tourism to trading, it’s attracting foreign investors more than ever. In an effort by the government to establish Dubai as the heartbeat of business and commerce in the Middle East and North Africa (MENA) region, its economy has since tremendously improved across all sectors and witnessed incredible capital growth. Going from strength to strength, be it through Free Zones or Expo 2020, Dubai has undeniably become the largest business hub in the Middle East.
- Financial Stability
“The UAE currency (Dirham) is tied to the US Dollar because oil exports are traded in US Dollars, which makes the dirham tied to the US dollar for oil transactions, and helps stabilize the UAE economy.
Dubai benefits from the United State financial stability and staves off vulnerability to exchange rate fluctuations.
- Development and Innovation
What helps Dubai’s economy and population grow at tremendous rates, is its state-of-the-art developments and innovation, from the tallest buildings to the largest airports. It’s the ‘City of Superlatives’, as well as the ‘City of Innovation’, after all!
Dubai is a major hub for technology and business growth, constantly evolving in order to foster an innovation ecosystem. With humanoid robots now serving customers ice cream at ‘Icealice’ in Dubai Festival City Mall, Dubai is a recognized world leader for AI, robotics, and fintech in the region, providing continuous support and manufacturing hubs for innovative companies to create and trial their products which make it one of the reason you need to invest in it.
Balancing environmental, economic, and social sustainability with a future-forward vision, there are constant developments that attract the masses to invest in Dubai, as the innovative city aims to make every aspect of life hassle-free. Therefore, you can always expect something new and exciting, which is one of the biggest benefits of investing in Dubai.
- Safety and Security
Another reason you need to invest in Dubai is how safe and secured it i . Safety plays a vital role in attracting more expats, and investors, to the emirate. Besides handling the global covid-19 outbreak successfully, Dubai is known to be one of the safest cities to generally live in as it has a very low crime rate and efficient legal system, thanks to its requisite security measures.
In terms of real estate investment, there’s a strong regulatory framework aimed at protecting an investor’s interests in Dubai. Dubai is also the most transparent and regulated property market in the entire MENA region, making your investment to be secure.
- Tax-Free Investment
If you buy a property in Dubai, you don’t have to worry about tax, as the emirate has no annual property tax, income tax, or capital gains tax, making it the best city to invest in real estate. Once a property is purchased, owners will not pay additional or ongoing taxes in the future, only the one-off property transaction and registration fees.
Needless to say, this makes properties in Dubai highly affordable and best of all, lucrative, compared to other major cities, where paying periodic taxes is mandatory.
Though the corporate tax will be introduced, the real estate market has been unaffected, so you can buy a property in Dubai and be rest assured you won’t have to keep paying a portion of your earnings.
- Investor-friendly Policies
One of the biggest benefits of investing in a Dubai is that you can be granted a resident visa based on your property investment in Dubai. This is applicable to foreign nationals who have a minimum investment of AED 1,000,000 for a freehold property in Dubai, given that the property is ready and not under a mortgage.
Since non-UAE citizens are also allowed to fully own property in Dubai without the need for a local partner, the city witnessed a huge surge in construction, which attracts foreign investors into the city’s real estate market.
- High Rental Yield
Dubai offers one of the highest rental yields in the world compared to global property destinations, the cost of purchase is lower in Dubai while generating higher rental yield.
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With its innovative planning, impressive infrastructure, and sustainable living over the years, Dubai has evolved into a global metropolis replete with investment opportunities, enticing people from all over the globe which is geared towards exceptional growth and development, so you can expect your investment to thrive.
That being said, investing in Dubai can be self-assured as the market is looking promising and rebounding strongly. Additionally, Dubai property prices have stabilized, the market has matured, and a new real estate cycle is underway, making this a great time to invest in a Dubai property.
Not sure of the right Real Estate property to buy in Dubai, UAE? At Home Sweet Home Estate (HSHE), we turn dreams into reality, whether you are looking to buy or sell your property, you have come to the right place. Contact us at https://hshestate.com/