WHAT ARE THE BENEFITS OF PROPERTY INVESTMENT IN DUBAI?
Besides the fact that Dubai offers some of the most beautiful and luxurious buildings, it also offers one of the highest rental yields in the world. Filled with stunning skyscrapers, sophisticated communities, and world-class events, Dubai never fails to impress.
If you are interested in investing in a property in the city of the future, read on to know what the exact benefits are.
1. SAFE & SECURE
Dubai is currently considered to be one of the safest cities in the world and has the highest rank when it comes to the quality of living and public infrastructure across the Middle East and Africa (MEA) region, according to Mercer’s 2018 quality of living survey.
The UAE is positioned as one of the top places in the region for investment and the Dubai real estate market is one of the safest investments in the world. This factor is one of the biggest benefits of investing in Dubai.
2. A CONSTANT GROWING ECONOMY
The UAE has a constantly growing economy as it is consistently aiming at attracting more visitors and investors. Dubai has introduced different Free zones that act as a hub for businesses and attract foreign entrepreneurs.
As Dubai keeps adding more iconic buildings and new developments, tourists and visitors from all over the world are visiting to experience the unique attractions which help the economy of Dubai to constantly grow.
3. HIGH PROPERTY DEMAND / LARGE POPULATION
Dubai is a city that is constantly expanding and is considered to be the fastest-growing city in the world. As such, new people and investors are coming to Dubai which leads to the fact that Dubai has a high population and has a constantly increasing demand for properties. In 2020, the population in Dubai was 2.9 million, and the city is constantly growing with an average of 10.7% per year.
4. RESIDENCE VISA
One of the biggest benefits of investing in Dubai is that you will be eligible for a residence visa based on your investment. As an investor buying property in Dubai, you can apply for a residence visa when purchasing a property worth more than AED 1 million. The other requirement is that the property you purchase needs to be mortgage-free and completely habitable.
5. NO PROPERTY TAX
This is one point that makes investing in Dubai so attractive for investors – there are no annual property taxes in Dubai, meaning that you can save a huge amount of money in comparison to investing in another city.
Once you have purchased your property and paid off the registration fees to the Dubai Land Department, there is no government tax to be paid. This factor has a great impact on the overall rental yield.
6. STABLE ECONOMY
When you invest in any property within a foreign country you are also investing in the country’s economy. Dubai has one of the most stable economies in the world which has allowed the economy to grow steadily, and is continuing to grow every year.
Buying property in Dubai is a great investment opportunity as the market is resilient enough to withstand economic challenges.
7. HIGH RETURN ON INVESTMENT
Dubai offers one of the highest rental incomes in the world, with an average ROI of 7,4% and sometimes as high as 11%. These numbers will also be boosted by the Expo 2020 event taking place from October 2021.
Dubai is also considered as one of the most affordable places to invest in a property and gives higher rental yields compared to other major cities, such as New York, London, Paris, Singapore and Hong Kong.
8. STRATEGIC LOCATION
Dubai is less than 6-7 hours flying from the majority of the world’s destinations, with currently 6,500 direct flights connecting from Dubai to the world every week.
It is also a major tourist attraction, and with plans on becoming the most visited city by 2025, there will be a consistent rise in demand for properties in Dubai.