Why do People Invest in Dubai Real Estate?
Dubai Real Estate sector has become one of the hottest hubs for investors from across the globe, owing to its rapidly growing economy, business-friendly regulations, safety & security, and luxury lifestyle it’s easy to find out why do people invest in Dubai Real Estate. Dubai offers several advantages to its residents and investors that other countries still do not provide. With every passing year Dubai creates a compelling reason for investment in Dubai, with lucrative and secure investment being one of the most prominent reasons.
Popular Areas in Dubai to Live and Invest
Emirates Hills
Palm Jumeirah
Dubai Hills Estate
Al Barsha
Dubai Marina
Downtown Dubai
Business Bay
Al Satwa
However, Dubai and its list of popular areas are never ending. Apart from the above-mentioned popular areas, there are several other areas like Arjan Dubailand, Motor City Dubai attracts investors and residents from across the globe to invest or to settle down in a thriving metropolis.
What made Dubai So Famous?
It’s a well-known fact that “Big Things Start with Zero in the World”, Dubai also once was a village known for fishing with not more than 800 residents. It is now the largest city in the United Arab Emirates, with major business centres and international metropolitan area. With the passage of time the oil revenues boosted Dubai’s economy and utilizing that economy efficiently Dubai transformed itself into a city with architectural marvels, with Burj Khalifa standing tall from the rest of the buildings of the world.
Dubai is firmly moving towards to fulfill its Dubai 2040 Urban Master Plan that is sure to take Dubai few more steps ahead from the rest of the world. Every morning, Dubai and its architects wake up with a new design, innovation, and thought to bring more positive changes and let the world witness an empty land space turning into a tall skyscraper.
Why do People Invest in Dubai Real Estate?
There are several compelling reasons to consider buying a home in Dubai or invest in the same. Dubai has everything to offer you, from innovative things to innovative buildings. It is home to the highest building in the world as well as the artificial island that looks alike a palm tree. Dubai Real Estate market is exciting and appealing for several reasons let us discuss these reasons in detail:
• Transparent and Controlled Market
Transparency is the key to success of Dubai and a regulated market with transparency has helped Dubai gain a reputable position in the world map. Dubai Real Estate market has kept this in mind very well. Even the developers and real estate companies in Dubai maintain a transparent relation with their clients, that in turn help their clients stay informed about their property construction progress.
Dubai real estate market has been rated as the best and most transparent markets in the MENA region, day by day reflects sign of soaring up.
• Golden Visa
Introduction of Golden Visa in 2021, a 10-year residency visa bridged the gap between expatriates and Dubai who wish to live and invest in Dubai. This lucrative golden visa policy has attracted several foreign investors for which the minimum required investment is AED 2 million. If the customer has paid AED 1 million, they may need to ensure that the total investment (including future payments) will meet or exceed AED 2 million to qualify.
Now, the best thing is that Dubai is filled with several luxury properties that crosses the mark of AED 2 million. Golden visa allows people to move to Dubai with their family, spouse, or possibly other dependents. For more assistance and information on Golden Visa, you can contact HJ Real Estates and get personalized help from Real Estate Agents in Dubai.
• High Rental Income
Dubai has emerged as a goldmine for investors with its amazing capacity of higher rental yields. Expats or the residents who live on rent often prefer to live in a community which is closer to major landmarks and thus investors enjoy lucrative returns on investment through renting their property. The more the popular area, the more is the rental income, such as Downtown Dubai, Dubai Marina to name a few.
As per the data, approximately 80% of the Dubai’s population consists of expatriates, and nearly 16 -17 million tourists visit Dubai every year, thus investment in Dubai Properties offers one of the highest rental yields because of the high demand of rental properties.
• Tax Free Income
Your income is only yours and government has nothing to do with it, Dubai’s government demands no tax on rental income, capital gains, or inheritance, and so what more one can expect! So, what are you waiting for, contact real estate company in Dubai and book your dream home. This favourable tax-free environment makes investment in Dubai more interesting and favourable.
Additionally, if you have invested in any off plan project in Dubai but later decide to sell it, you don’t need to pay taxes on the profit earned from selling your property.
• Real Estate Market Growth
The first quarter of 2024 saw a significant rise in residential property prices, on an average price increased by 20.7%, with apartment prices rising by 20.4%. Whereas, off-plan properties purchase rate grown by 23.9%. Real Estate in Dubai is booming with ample number of luxurious new villas, townhouses, and apartments anticipated to be finished and handed over to buyers this year.
Some of the Best Things You Can Buy in Dubai
Jewelry and Fashion
• Diamond and Gold Jewelry: Dubai known as the “City of Gold” and that is for a reason. You can find some of the unique and rare pieces of diamond and gold jewelry in Dubai.
• Designer and One-of-its Kind Brands: Dubai an innovative city is not just for architectural wonders but also offers the latest trends and exclusive collections of Abayas and more. It is a perfect place to shop for coveted brands like Hermès, Gucci, Prada, Louis Vuitton, Chanel, and approx. countless others.
• Arabic Perfumes: If fragrance acts like a magnet for you, then Dubai is a perfect place for you. You can shop for authentic attars with Arabian fragrances. And why not, you are going to buy property in Dubai so before going for purchasing the property carry the Arabic fragrance with you, because first impression is always the last impression.
Conclusion
By investing in Dubai Real Estate, you are not just securing your present but also your future and your future generation. Investment in Dubai will help you join the group of successful investors who have benefitted and paved the way for their younger generations to earn more from the city’s strong property market. For interested buyers and investors, it is advisable to contact Real Estate companies in Dubai such as HJ Real Estates to better understand the market, its potential and secure ways to invest.
