Dubai Real Estate : An Eldorado That you MUST Consider !
For several years now, Dubai has been the new Eldorado for investors!
It must be said that the city is both cosmopolitan and dynamic with international airports that serve all cities in the world.
As for investing in real estate, it is a winning investment insofar as you benefit from a particularly advantageous tax system!
So, if you are still hesitating to buy a property in Dubai, here is what you need to convince you!
If you want to take the plunge and invest in Dubai, then you have to know that the real estate market is among the most dynamic in the world!
In Dubai, you will be surprised to discover relatively low prices with a lot of apartments for sale in very chic areas.
In addition, sellers are often open to negotiation with up to 15 or 20% less on the posted price.
On the other hand, the services are top-of-the-range with luxury residences! Moreover, most of them have swimming pools, a gym,
A fantastic place to invest and live.
A MORE THAN ATTRACTIVE TAX SYSTEM, CLIMATE, POLITICAL, AND ECONOMIC SECURITY MAKE DUBAI AN IDEAL DESTINATION FOR INVESTMENT AS WELL AS LIVING.
Rental income from residences provides investors a high return on their investment. However, in terms of investment, the choice of neighborhood is critical.
Until now, investors have preferred properties near well-known districts such as Dubai Marina or Downtown, which has resulted in price increases.
To attract potential investors, developers are creating properties in “new neighborhoods” that provide a highly appealing price/return ratio. and a concierge service.
In addition, you can perfectly apply to become a resident in the United Arab Emirates by opting for an investor visa.
THE MAJOR BENEFITS OF INVESTING IN DUBAI:
An excellent location for both investing and living.
- There is no income tax.
- There is no business tax.
- There is no VAT on new developments as well.
- There is no capital gains tax.
- There is no inheritance tax, and the possibility of registering a will exists.
- There is no withholding tax.
DUBAI’S LOCATION IN THE MIDDLE EAST AND SEVERAL IMPORTANT ELEMENTS HAVE COMBINED TO CREATE A STRONG ECONOMIC FORCE.
Stability in politics and the economy: The UAE has emerged as a model of political and economic stability that distinguishes it from its neighbors.
Regulatory advancements: Property restrictions and legislation in the Emirate have been continually changing in recent years and continue to be updated in the favor of the owner.
Massive development projects: Dubai is rapidly changing, both economically and socially.
Aside from the perks, Dubai provides a perfect temperature all year round: It is bright every day of the year; there is complete security: Dubai has an extremely high degree of security.
Numerous projects and activities: Dubai is a metropolis bursting with vitality.
The population’s diversity: Dubai is an international metropolis, which results in a continual cultural mix.
A fantastic geographical location: Dubai is well-served due to its location at the crossroads of several continents. It is simply a 6-hour flight from Europe, for example.
A dress standard: There is no clothing code; shorts and short skirts are permitted on the streets, as are exposed shoulders.
Acquiring a rental property
As the city of Dubai is really taken by storm by many entrepreneurs, the demand for housing is exploding!
That’s why, as an investor, it can be interesting to invest in rental property.
In just 2 years, in some areas, prices have already dropped by approximately 25%. In addition, and as the city is actively fighting delinquency, the agencies don’t let anything pass.
In terms of profitability, it can reach 8 to 12% depending on certain areas. In addition, the city of Dubai applies a very interesting tax system with 0 taxes to pay!
And as the Arab Emirates welcomes a good number of expatriates, the city is resolutely turned towards the future with the objective of becoming the first tourist resort in the world by 2025!
What are the most popular neighborhoods?
To invest in a property in Dubai, you can already turn to the international district.
Particularly cosmopolitan, it offers an excellent rate of return for rental, if you opt for a studio or one-bedroom apartment.
On the other hand, there is little demand for large apartments in this area.
In Dubai Marina, prices naturally rise as demand is high. It is a residential area with many restaurants and shops that are very popular with expatriates.
For the residential area of Palm Jumeirah, you invest in an artificial island with luxury hotels, shopping malls, and high-end buildings.
Here, you won’t find anything for less than €200,000! As for Downtown Dubai, it’s a chic neighborhood very popular with tourists, especially because of the Burj Khalifa and all the other citadel properties of UAE.
For studios, you will have to pay €130,000 with apartments that can go up to €2 million for high-end services.