What Do People Think Of When Investing In Property In Dubai?
The number of investors in property and potential house buyers in Dubai constantly increases.
Tolerance of immigrants, deals without any complications, a wide range of luxury properties, and the overall development of the city attract foreigners to make their money working there.
They choose not only to invest in property in Dubai in 2022 to get high returns but to move for permanent residence there.
The government supports foreigners in their desires to invest in houses in both situations and provides equal beneficial opportunities.
Rules And Regulations On Real Estate Deals In Dubai
Stable economic situation and progressive politics in the sphere of real estate force buyers not to procrastinate and make wise decisions. Besides, the high demand for ultra-luxury and more reserved apartments and villas allows developers to boost prices. Even the property of extremely high cost is sold immediately as it features extraordinary quality.
So, what do people take into account when they decide to invest their money in real estate in Dubai?
Let`s explore 5 of the most convincing ideas.
- The absence of taxes
- Prolific tourist industry
- High level of life and safety
- Good return on investment
- Active real estate market
Reasons To Invest In Dubai In Details
Looking at the above-mentioned reasons, we need to provide some clarity in such laconic statements.
1. The absence of taxes.
The governmental policy does not require house owners to pay taxes on their property. In the UAE, individuals do not pay tax on acquisition, ownership, capital gains, and rental income.
There is no inheritance tax. When a gift is made to a blood relative, no payment is made either. The only tax to pay is 4% on registration. The payment is obligatory and performed only once.
2. Prolific tourist industry.
Dubai is visited by millions of people annually. The UAE program of welcoming tourists from all over the world pushes the opportunity to lease an apartment and have a good return.
People of various professions, freelancers, and employees move to Dubai for living and to build their careers. Such a migration allows finding trusted long-term tenants and stable income.
3. High level of life and safety.
One of the most important factors to think of is that Dubai is called one of the safest places on the planet. It is crucial in terms of the real estate sphere. The Quality of Living City Ranking claims Dubai to top the list in the Middle East and Africa.
Many criteria are used to compile the ranking, such as political stability, healthcare, education, crime rates, recreation, and transportation. This year, urban infrastructure was considered as a separate category, in which Dubai ranked 1st in the Middle East and Africa region and 51st globally.
4. Good return on investment.
The population of the city is in the process of growth thanks to the great number of transactions in the real estate market. Understanding the perspective, more and more investors put their money into luxury properties in Dubai.
The growing demand resulted in a 121% return on investment for the last 10 years. Businessmen choose to invest in all types of property – commercial, residential, and recreational.
5. Active real estate market
The UAE housing market is actively growing. Property prices in Dubai in the first quarter of 2022 rose by 7.54% year on year, and the average price per square meter of an apartment was $6 thousand.
The volume of transactions in Dubai reached a ten-year high. The property of extreme popularity is the developments near the seaside. The footage of free land in these localities reduces each year and leaves fewer chances to buy.
Real Estate Agency In Dubai
Ax Capital is ready to give an in-depth consultation on any question connected with real estate. The agency with comprehensive experience offers the most beneficial as well as exclusive housing options. Do not hesitate to ask for professional advice and you will get qualified assistance.
The Outcomes
Dubai, perhaps the most popular city in the UAE, is a great solution for investing. The world`s leaders in the sphere of real estate choose the city as a trusted and stable resource for getting a good return and enjoying flourishing businesses.
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