In the past investors were bit hesitant when it comes to investing in Dubai’s real estate market and this was mainly because of the financial crisis back in 2008 which affected many countries worldwide. But things have changed since then as the city’s property market bounced back and is currently one of the world’s strongest property markets, this attracted many foreigners to invest in the city’s off plan projects due to the great return on initial investment.
UAE’s real estate market has grown in popularity in the last few years with foreigners who either seek a life in the Sun or want an alternative method to build their investment portfolio. UAE has proven over the last few years to be the perfect overseas investment destination, offering affordable luxury investment opportunities with higher average return on investment compared to some of the world’s renowned investment destinations.
Why Foreigners like UAE’s Real Estate Market?
– Growing Economy
One of the most important things investors consider when investing in a real estate property overseas is the economy of the country they intend to invest in because they are technically not only investing in the property, but also investing in the city the property is located at.
Now the interesting thing about Dubai is that the city has seen an impressive growth in the last few years and all the numbers and statistics indicate that the city will continue having an impressive economic boost for the next few years.
– Outstanding Infrastructure
Infrastructure plays an important role when it comes to property investments, whether it is residential or commercial property because a good infrastructure makes life much easier once people start using the property. UAE’s infrastructure is really impressive with all the necessary requirements provided at very high standards, in cities like Dubai you can find outstanding buildings, hospitals, schools and very convenient transportation systems including a metro system, a tram, outstanding roads and 12 lane highways.
– Variety of options for all budgets
Among the many benefits of having property in UAE, one is that there is a wide variety of properties to choose from depending on your budget.
For instance, on our site, we provide different off plan property option ranging from luxury mansions next to a golf course or a penthouse in Burj Khalifa to affordable downtown single room studio apartment.
So according to your budget, you could have a look at different off-plan properties in our site and you will most likely find a suitable choice for your dream property but yet under your budget, especially with the different payment procedures we provide.
– High Security
UAE is considered one of the safest countries in the world when it comes to general security, the country has a very low crime rate and rigorous law enforcement.
A good investor will make sure the country in which his property will be located is safe, and the UAE is not only the safest country in the MENA region but in fact, one of the safest in the world with crimes and theft almost never heard off.
– Great rental yield
One of the main reasons why Dubai is considered one of the best destinations for global property investments is the rental returns, the city offers on average better returns on investment than other major competing cities such as New York and London. So If you are planning to step a foot in property investment, Dubai might be your best choice.
– Expo 2020
With Expo 2020 being held in Dubai, it is expected that this prestigious event will attract 25 million unique visitors from 180 nations and up to 33 million visits over the 6 months period the event will be held on. It is important to note that a good number of these visitors will eventually settle in the city even after the event is completed as new companies and opportunities will emerge.
This huge number of visitors will definitely provide a huge boost to the tourism and hospitality industries.
The rental demand will obviously be high during the Expo 2020, giving the landlord the advantage and flexibility to adjust rental prices to increase their profits. Indeed this is the best time to invest in a property in Dubai.
– No property tax
While this bonus point might seem unrealistic to some foreign investors, yes this is very true. The UAE Federal Government does not impose taxes on the wealth of companies and individuals in the UAE, the ruling family of Dubai has indicated that Dubai will never resort to taxation.
No property tax means that once you have bought your property in Dubai, paid the equivalent registration fees to Dubai land department, there is no other fee such as property tax to be paid to the government, the deal is closed.
2019 Prediction: Will Foreign buyers continue investing in UAE?
Foreign money has continually found its way into the emirates because of its strategic location, progressive laws, business-friendly regulations and the willingness to diversify the economy.
Last year, the UAE government announced new long term visa laws that will be granted to the foreign population, particularly investors. This new initiative along with high competition among developers leading to better offers will definitely boost foreign investments in the country.
Hope this short article was helpful, if interested to learn more about investing in Dubai, feel free to get in touch with one of our expert agents by clicking on the “Book a meeting” button below or use the chat box to write us your enquiry.
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