Besides being known for its opulent lifestyle, world’s tallest tower, iconic skyline, record-breaking stats to the man-made palm-shaped archipelago, Dubai has shaped itself as one of the top investor hubs. Investors are becoming increasingly interested in dipping their toes into the Dubai market. Here are the Top 5 Reasons to Invest in Dubai Real Estate specially curated for you!
Despite all the chaos, Dubai has stood resilient throughout, given its social and economic reform as well as its post-pandemic strategy. It has reinforced its position as one of the most appealing cities for investors.
Dubai’s strong recovery was evident in the real estate sector, with a record of 73.7% growth in the number of investments and a 65.6% rise in the number of investors since 2020. Since real estate is still one of the preferred ways to earn wealth, Dubai has become an attractive location for investors from around the world.
As Dubai has transformed itself into a leading profitable and sustainable destination, here we gathered the top 5 reasons why investors choose to invest in Dubai real estate:
Also read Real Estate Business in Dubai
Top 5 Reasons to Invest in Dubai Real Estate
Dubai is a cosmopolitan city where people from over 200 different countries live in the hope of expanding their businesses and careers. As the population in the city is ever-growing, so does the demand for properties. It is rising at a rapid rate bringing in more investment opportunities in Dubai.
Dubai’s population which is currently around 3.5 million is expected to double in 20 years, which will coincide with the completion of Dubai’s 2040 Urban Master Plan. Despite the chaos and covid-19 setback, the city’s population is still higher than in January 2020.
With the fast-growing population, and expats flying in every day to settle in the city, it is surely no surprise to see the real estate industry in Dubai booming.
Innovation and Development
What helps the city’s population and economy grow at a tremendous rate, is its state-of-the-art innovations and developments, from the largest airports to the tallest buildings, it is a “City of Superlatives” and the “City of Innovation”.
Dubai is the core of technology and business growth, which is constantly evolving to foster an innovation ecosystem. You can find humanoid robots serving ice-creams at ‘Icealice’ in Dubai Festival City Mall. Dubai is an acknowledged world leader in robotics, AI, and fintech in the region. The city provides continuous support and manufacturing hubs for companies to test and trial their products.
Constant developments in the city by balancing economic, environmental, and social sustainability attract the masses to invest in Dubai, as this innovative city aims to make every step of life hassle-free. Therefore, you can always expect something innovative and exciting in the “City of Innovation”, which makes investing in Dubai the most exciting.
One of the huge benefits of buying a property in Dubai is its significant boom in the economy. Since Dubai is the strategic midpoint between the east and the west, the city is considered a regional hub for anyone who wants to expand their businesses in either or both directions.
Due to the city’s highly diversified and stable economy, with the help of the revenue generated from trading to tourism, foreign investors are becoming increasingly interested in investing in Dubai real estate. The government’s effort to establish Dubai as the heartbeat of commerce and business in the MENA region has tremendously improved its economy across all sectors. Dubai has undeniably become the largest business hub in the Middle East region, be it through Free Zones or Expo 2020.
Read more about Dubai free zone business setup
High Standard of Living
Dubai is recognized as one of the best cities for investors due to the city’s world-class infrastructure and excellent quality of life. With a luxurious lifestyle, top-quality dining venues, connectivity, beautiful beaches, and state-of-the-art recreational and entertainment facilities, it is easy to understand why Dubai is globally recognized as a haven for investors.
Dubai is also known as one of the safest cities to live in with considerably low crime rates, and an efficient legal system.
When it comes to the city’s real estate, various developers in Dubai have an inventory, offering stunning properties to investors. The major advantage is that it is quite affordable when compared to other major cities, meaning there is something for everyone according to their income and budget.
If you are planning to buy a property in Dubai, you need not worry about tax. Since the emirate has no income tax, annual property tax, or capital gains tax, which makes it is the best city in the world to invest in real estate. Once a property is purchased, you have to pay the one-off property transaction and registration fees, the owners can rest assured that they need not pay additional or ongoing taxes in the future.
This tax-free investment makes properties in Dubai highly affordable and most of all, profitable, when compared to other major cities where paying periodic taxes is compulsory.
Even though corporate tax has been introduced in the city, it does not affect the real estate market. So you can purchase a property in Dubai and rest assured that you need not pay a portion of your earnings as tax!
Apart from all these reasons, Dubai real estate offers higher returns, significantly higher returns when compared to other cities like London and New York, which makes it an even more interesting option for investors from around the world.
Another biggest benefit of investing in Dubai is that you can be granted a resident visa which is based on your investment property. This is applicable for any foreign nationals with a minimum investment of AED 1,000,000 for a freehold property in the city which is ready and not under any mortgage.
Over the years, Dubai has grown into a global metropolis with investment opportunities attracting investors from all over the globe. With its growing population, fast-paced economy, innovation and developments, high standard of living, tax-free investment, higher returns, and investor-friendly policies, Dubai has evolved as the major hub for investment opportunities.
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