I suggest you here to understand whether buying a property in Dubai is a good investment or not to consider the reasons behind buying a property anywhere in the world. Of all the property that you can buy with money, real estate is the most valuable and useful product. Do you know why? Because due to population growth in the world, there is no longer a lot of available lands, so why not get that plot you want before someone else buys it?
The reasons why you should invest in Dubai real estate
Familiar neighborhoods: Dubai has been a family city since its inception. Every neighborhood, complex, and city in Dubai is well designed and thoughtful.
Cleanliness: Dubai knows how to keep clean its streets and compounds. For example, thousands of people use public transportation on the eve of New Year’s Eve. Everyone meets in the Dubai Center to watch the most famous fireworks display, which is considered the largest fireworks display on the tallest building in the world Burj Khalifa. Yet you won’t even find a single piece of paper on the streets the next morning.
Transportation: All major Dubai compounds are well connected and connected to the public transport network.
The necessary infrastructure: Dubai has excellent facilities in terms of education, health, and entertainment.
Security: Dubai is undoubtedly one of the safest countries in the world. Dubai Police is known for its law and order enforcement capabilities, and Dubai is far from outside threats thanks to its strict regulations.
Buying a vacation home
Holiday homes are a thriving real estate market in Dubai. The preferred destinations are Jumeirah Beach Residence, Palm Jumeirah, Dubai Marina, and Downtown Dubai (Burj Khalifa area). Buying a holiday home in Dubai has several benefits:
No Taxes on Your Property: Investors do not pay taxes to the government on the property. Therefore, renting the property to cover these expenses will not be necessary, and it will be available every time you visit Dubai.
Obtaining a residence visa: The most important advantage of investing in real estate in Dubai is the ease of obtaining a residence visa. The property must have a value of AED 1 million or more to get a residence visa in the United Arab Emirates.
The weather is sunny all year round: Dubai’s sunny beaches are generally within walking distance of your home and are an excellent source of entertainment.
Beautiful landmarks: Dubai is home to the largest mall in the world (The Dubai Mall) and the tallest tower (Burj Khalifa), in addition to many attractive landmarks.
Buying a property in Dubai in the form of an investment
This is the major reason why people buy property in Dubai or anywhere else in the world. It guarantees to buy a property in Dubai in the future. Here are the reasons that prove the importance of Dubai as a real estate investment opportunity:
Dubai offers higher returns(CG): none of the major cities (London, New York, Hong Kong, and Singapore) can match Dubai regarding rental services. Global Real Estate Directory reports that Hong Kong offers a return on investment of only 2.82%. As for Singapore, the average rental income is 2.83%, while London ranks third with a rental income of 3.21%. Dubai ranks first, with a moderate average rental income of 5.82%. In some areas of Dubai, the rent may exceed 10%.
The cost of buildings in Dubai is lower: Dubai is much cheaper compared to other world capitals. According to a study by the Global Real Estate Directory, London costs $ 2,208 per square meter. Hong Kong is ranked second with $ 2,119 per square meter. Then New York is ranked third with $ 1,719 per square meter. In Dubai, the average real estate price is only $ 468 per square meter, which means that it is six times less than the cost in London.
No Property Taxes: No property tax is one of the main advantages of buying a property in Dubai. If we assume that you have $ 200,000 to invest in real estate and decide to buy a property in Hong Kong, the price will be 15% of the purchase price, while it is 13% in Singapore, 2.33% in London, and 2.21% in New York.
Is buying a property in Dubai a good investment? All the points shown above indicate only one answer to this question, and the answer is definitely yes!