Besides the surprisingly tall structures and marvelous attractions, visitors from all over the globe access Dubai for homely nature and business. If you’ve always dreamed of leading a luxury life in the world’s business hub, there’s no indecision about the charisma of modern architecture and tourist havens alike.
But, when you consider purchasing a property in UAE, there’s so much more than what meets the eyes regarding the real estate industry in Dubai. The emirate’s property market is progressing at a rapid pace, which is evident from the growing prices for both villas and apartments.
So, let us walk you through the most exciting real estate facts you must know.
1. Lower Acquisition Cost:
Cost-effectiveness is one of the most impressive features of Dubai’s real estate industry. Higher acquisition costs often fail to attract property dealers and investors. Yet, Dubai occupies a lower acquisition cost than other developed cities in the Middle East. Therefore, it appeals to investors not only within the Emirates but from outside of it as well.
2. Higher Rental Return:
Rental returns play a significant role in determining the accurate value of a property’s business. To your surprise, around 85% of the UAE’s population is international, which has acquired the rental market and resolved the accommodation hassles, and cordially invites every foreigner out there.
3. Dubai Property brings you a residential visa:
Owning a property in Dubai makes you an eligible candidate to apply for a residential visa. Dubai has consistently invited millions of expats from diverse cultural backgrounds into its territory. And they’ve thoroughly complied with its wishes. From reserving a car to opening a bank account, the resident visa brings the utmost convenience to the applicant.
4. Absence of Property Tax:
Dubai is the only emirate where you’re not liable to pay property tax; isn’t that amazing? You can enjoy the benefit of purchasing an untaxed property at a reasonable sum. With that said, Dubai’s government hasn’t imposed any taxes on properties. And for that cause, the tax-free theme has boosted the real estate industry of Dubai.
5. Profitable business:
Another commendable fact that adds feathers to Dubai’s property dealing market is providing security to the investors. The sense of protection propels one to extend their stay in Dubai as long as the assets are prospering righteously. In that case, you can always reap the investment benefits as you make up your mind about owning a property in the city.
6. Center of Global Events:
Dubai is home to countless global events, from ever-changing architecture to world-class street art to iconic opera performances. The achievement is quite productive for the city’s real estate market, which has made it reach the pinnacle of success. So, investing in the Emirates wouldn’t be a risk.
The most volatile yet attractive economic rate of 10 to 15% of the population is Emirati, the rest is foreign. We can quickly determine the progression of Dubai’s real estate market in the following years.
With such an extended network, the real estate market must’ve gained the attention of the world’s leading investors for a reason. Without any further due, start considering making a significant investment in one of Dubai’s fruitful locations. And who knows, maybe you get to pull up your property for rent in Dubai one day.