Why invest in real estate in the UAE
The UAE is a wonderful place. The sun shines all year round, the average summer temperature ranges from 24 degrees in winter to 40 degrees in summer. Luxurious amenities, great weather, and easy access make the UAE now a huge attraction for people from all over the world. On the Emirates.Estate website you can find a list of real estate agencies for sale in the UAE. This way you will be able to find a property to purchase in the UAE.
Dubai real estate prices
After the end of 2021, consulting companies and real estate market experts ranked cities around the world according to such a criterion as rising prices for luxury real estate. Following the ranking, Dubai took 3rd place in this list. Experts are confident that soon Dubai will become the safest option for investment.
It is important to note that real estate prices in one area, but from different developers, can vary greatly. For example, there are more than two hundred high-rise buildings on the territory of Dubai Marina. The area was built by different companies, so all properties differ from each other in terms of quality, rental rates, and price. For example, here you can buy a studio for about USD 150,000, but it is not a fact that it will be well rented out and subsequently sold well. And the reason is that this is the worst housing in the area, with poor service from the management company and with the lowest quality of finishes.
Benefits of buying property in Dubai
If you are looking to buy property in Dubai – whether to live in, to rent out, to use as a holiday destination, or for any other purpose – you should be aware of the main advantages of Dubai.
So what are the advantages of Dubai?
- High profitability. Rental yields in Dubai average 7 percent per annum.
- High tech environment.
- Sustainable economic growth.
- Resident card. A residence visa is issued upon purchase of real estate valued at at least 272 thousand US dollars. There are 2 and 5-year visas for property owners and their families.
- World-class medicine and education.
- Tax attractiveness. There is no tax on residential property and rental income. The tax on the purchase and lease of commercial real estate is only 5 percent. The VAT rate is one of the lowest in the world.
- Stable currency.
- Dubai is the center of international finance.
- A constantly growing population. Doubling every 10 years:
- 2010 – 1.5 million inhabitants;
- 2020 – 3.1 million inhabitants;
- 2030 – 6.4 million inhabitants expected.
- Reliability of the investment environment.
Real estate in the UAE
Looking at Dubai’s phenomenal success, the other emirates of the UAE are now following its example, each with its own economic attributes but similar tax-free investment benefits. Currently, low prices, developed infrastructure, and huge demand for commercial and residential real estate contribute to the success of real estate markets in other emirates.
The specialists from Emirates.Estate will help you become an owner of a property in any of the emirates. They will guide you through the deal, making the negotiations and the purchase go as smooth as possible.