WHY SHOULD YOU PUT YOUR INVESTMENT IN DUBAI?
- Consistently Growing Economy – Dubai has flourished and innovatively championed economic growth in MENA region. It has not depended on oil and is surviving the punch of oil crises and yet it has already become one of the fastest and smartest growing economies in the world. You will not only be investing in a particular piece of land or house, you will be also investing in Dubai’s economy as well.
- Expo 2020 is coming to Dubai – Dubai is host to the next World Expo in October 2020. The Expo will attract approximately 25 million visitors from 180 nations and has boosted off-plan property sector. Buying a property near the Expo will receive a high return on investment as millions of visitors will need to rent property.
- No Annual Property Taxes in Residential Properties – Dubai’s residential real estate market is tax-free. Purchasing a residential property will not include taxes. Once the property is purchased, owners will not be obliged to pay additional taxes in the future.
- UAE Property Visa – Become eligible to get a property investor visa based on your property purchase in Dubai. The property value should be at least AED 1 Million, with no mortgage against the property and completely habitable. The Property Investor Visa is issued by the Dubai Land Department and is a two-year renewable visa. With this visa, you become a UAE resident meaning you can obtain an Emirates ID, UAE driving license and sponsor family as well.However, t his visa is only available for Dubai property investments .
- Low Acquisition Cost and Good Capital Appreciation – The acquisition cost in Dubai is much lower than in most other major cities in the world but surprising there are many projects across the area with capital growth. Property prices are inexpensive in comparison to other similar trading hubs around the world. There is a potential for further growth, as prices have grown by 10% in demanded projects from 2011.
- Guaranteed ROI – Dubai’s real estate market is mature with the city population increasing over the years. Investors have taken advantage of the increase in demographics thereby wisely purchasing properties in the city to supply the rent demand. Rental income from property is a stable source of income, and while it might fluctuate, is highly unlikely to vanish altogether. Compare that to interest on deposit accounts or dividends on shares. Good investment properties in Dubai offer 8-10% rent return (after deduction of maintenance fees).
- Happiest City In The World – The Ministry of Happiness was created in 2016 by Dubai Government to develop programs and policies and its main responsibility is to measure the happiness level of Dubai’s residents and take such actions, which will enhance the lifestyle of people living in the emirates along with making them happier than ever.
- Booming Tourism Industry – Tourism, trade, business services and other industries are incorporated to each other. The building of new hotels and real estate projects is a direct result of this growth.
- Law Crime Rate – Security and safety is best in Dubai. There is no simply no match.
- Superior Transportation Infrastructure – Dubai is continuously advancing its transportation infrastructure. The US-based Hyperloop One is creating an expedited transportation route between Dubai and Abu Dhabi. Hyperloop One prepares to launch the world’s first operational Hyperloop system, allowing passengers to travel between the emirates in pods at 1,200 km per hour, approximately in 12 minutes.
- Dubai’s population is growing – Dubai Statistics Centre confirmed Dubai’s population now is at 3,086,225 and will reach 5.2M by 2030. The various property projects in the area are in ratio. People from more than 200 different countries are living in Dubai, searching for better career and business opportunities. These people need a place to stay. Moreover, there are numerous existing Free Trade Zones in Dubai that provide industry-specific market infrastructure and tax incentives for industries
TYPES OF PROPERTIES YOU CAN INVEST IN:
- Freehold Properties– The property is registered in your name, and an heir may inherit it upon your death. New freehold properties must be purchased from government approved real estate developers.
- Usufruct Properties– A usufruct property means that you buy a long-term lease. The length of the lease ranges from ten years to 99 years for residential properties and 50 years for corporate properties.
- Commonhold Properties– Apartments are typically sold as common hold properties. You and other building residents must pay fees for maintaining common areas, As with freehold properties, you can sell or inherit your commonhold apartment as you like.