Known for the tallest buildings within the world, the record-breaking statistics of making the finest homes, Dubai is one among the foremost attractive places to shop for property. Recovering from the impact of Pandemic Dubai is about to thrive within the next years attracting global talent, increased amounts of Foreign Direct Investment, and even more impressive projects.
Here are the top 5 reasons why Dubai makes an excellent real estate investment opportunity.
1. No annual property taxes
Dubai has no property tax (Wow!), or capital gains tax, making the Emirate the best place to invest all the time. Once a Dubai property is purchased, owners will not pay additional taxes in the future only the one-off real estate transaction fee.
2. Outstanding financial rewards
Dubai has the 5th highest performing economy in the world. The Dubai govt is devoted to creating the Emirate competitive across the world by constantly introducing new measures to enhance the business environment and promote long-term growth.
Individuals who are investing in Dubai property enjoy flexible payment plans, tailored to their financial status, whereas the rate of interest is 4.5% for residents and 5.5% for non-residents. With an unlimited remittance limit and a stable currency, pegged to the dollar, Dubai is offering unparalleled financial security. Investors prefer Dubai because it’s developing quickly to a solid investment choice, with easy exit and a guaranteed 10-year visa in many cases.
3. High return on investment
Dubai recently reached the highest of the “Hybrid” Cities for land investment in JLL’s report titled ‘World Cities: Mapping the Pathways to Success.
Based on the report, ‘Hybrid’ cities are best epitomised by Dubai. Those cities are usually medium-sized and compete in specialised markets while they enjoy access to large domestic markets. Dubai’s spot on the map and its definite luxury status exhibit the strength and top position of the town on land worldwide. Dubai ranks between the world’s ‘emerging cities’ and ‘new world cities’ as a city with a superior live-ability compared to other national and regional nominees.
Buy-to-let investors in Dubai can do higher rental yields compared to other mature property markets, despite the apparent hamper of the market. For many, the important estate market in Dubai is undergoing a ‘correction’ process which will see a more stable and solid supply of high-quality homes.
4. The business hub of the Middle East
Dubai is considered as a true axis of international trade, a gateway to the Middle East, the Indian Subcontinent, and Central Asia. Home to ⅓ of Fortune’s Top 500 Companies, Dubai attracts business talents from every part of the globe. Dubai also belongs on the list of the world’s Top 20 Cities Global Power Index 2020 (GPCI).
Rightfully gaining momentum, the Emirate is offering a superb legal framework for businesses to grow and a market economy system. Business leaders view Dubai because of an untapped area where tremendous growth is about to happen.
5. A shopping paradise
Dubai hosts a number of the most important malls within the world, featuring the newest lifestyle trends attracting shopping aficionados from across the world. Ranked on top as the most popular international shopping destination globally, Dubai stole the show within the 2018 edition of ‘How Global is that the Business of Retail?’ report by CBRE.
Hosting currently the most important mall within the world, the Dubai Mall, the Emirate is predicted to feature quite 1.5 million sq. m. of latest retail space. Dubai also scores high when it involves new market entrants as last year it welcomed 57 new retail brands from which quite half of them were European brand names mostly from the Coffee and Restaurant category.
In this blog, we’ve highlighted why to invest in Dubai. The investors have set their eyes on Dubai and willing to park their savings in the Dubai land sector. However, to maximize the last word benefits, it’s advised to work with land experts, who are well-versed about the Dubai land market, its trends, and its promising projects.