Why One Should Buy Property in Dubai?
Property is one of the major asset classes. One should feel proud if he/she belongs. It never experiences financial depreciation unless one buys it without using any general awareness and intelligence. So naturally, investors who deal with high expectation, always look for properties like lands and apartments to get high return of investment.
Where to buy property?
In terms of return, the significance of the place where the property is located, is the most important factor one should keep in mind before investing in Real Estate Sector.
Any place with good connectivity with other places of the World and scope of earning will be both the sellers’ and buyers’ market. Global hubs like London, Dubai, New York, Hong Kong etc. are such places producing such opportunities. But, during recent decades, the sustainable socio-economic development in Dubai has been just unsurpassable compairing to other cosmopolitan cities. This has made Dubai the ‘Hajj’ of real estate investors across the World.
Dubai - Why the best place of Investment in Property in recent times?
1. Luxury lifestyle and excellent infrastructure at affordable price :
Dubai is the home of millionaires and real estate developers. The developers here possess the top places in the list. They have been designing Dubai for years with top-notch skyscraper like Burj Khalifa, artificial chain of islands Palm Jumeirah, World class hotels & restaurants, extraordinary infrastructure, large shopping mall. So, people who have money and want to live such extraordinary, comfortable and luxurious life, Dubai is the dream home for them.
Every year the number of millionaire migrant residents are increasing in Dubai. It shows, the demand of such high priced properties in Dubai. So if you buy, you may sell it at hike.
2. High Rental Gain :
Dubai properties produce high rental gain potentiality. So, huge number of real estate transactions are being done every day. Hotel property is a good choice to gain in this way. People come to Dubai from every corner of the World for trip, business and job. So, if you let your hotel room to rent, you will get regular rental charges. It’s a sustainable income giving option in Dubai, whereas hotel management company will be available to maintain your hotel, as well as doing promotional activities.
3. Tax-free Income in Dubai :
Dubai Govt. do not charge any kind of property tax, even no tax is applicable on capital gain. Except Abu Dhabi, the Capital of United Arab Emirates, leases of residential and commercial properties are only charged tax. So, in case, one buys real estate property in Dubai and lets it on rent, the rental gain what he/she will receive is completely tax-free. Thus Dubai has become the place of optimistic investors. Value Added Tax is not applicable on rental income.
So, foreign investors are showing utmost interest in investing in Dubai Real Estate. There is no income tax is levied if one works in Dubai. Thus, people are going to Dubai in search of jobs too, there they need shelter to live, if you have that you may either sell or let it on rent.
4. Reasonable price and easy payment plan :
It is not easy all time to buy a property by full amount in cash or with a massive down payment. So, many developers in Dubai offer long term & pliant payment plan for buyers. Dubai Real Estate properties possess huge potentiality, for opportunistic foreign investors, there’s no reason to move against such properties.
The high class features, lifestyle, infrastructure and luxury that the Dubai developer companies provide is rare to find in other places of the World, especially at such reasonable prices. Even at other popular places of the World, the price may be higher than in Dubai, but quality of living is not as luxurious as in Dubai.
5. Every place in Dubai is significant:
If a place is well connected to other places and major in terms of people’s demand to live there, the properties which are located there will be on high Demand. But, Dubai has no central area, here every place and area are of major significance. Every large community living there, is well connected to each other and possesses same significance. Every place is well connected to schools, colleges, offices, hospitals, restaurants and retails.
The properties are available here in large scale, investors get many options to select where the money should be invested.
6. UAE is a safe country, Dubai is a safe city :
United Arab Emirates is the safest country in the World, as reported and the country has achieved the second place in Police response time during emergencies, just after New York. That’s for Dubai, the cosmopolitan city of high rises with extraordinary lifestyle and facilities in UAE, is naturally one of the favorite places of real estate investors to invest in. Dubai promises safety and security to its properties and people, so Dubai is able to fetch the people of foreign countries to its land.
A investor claims security to his/her owned property, buyers want safe place. Dubai satisfies both of them.
7. Residential Communities of Dubai :
Residential communities are well settled in Dubai, so buyers who want to live in Dubai, there is no worry for them. Dubai is trendy and developing. Developers are coming with new projects that will engrave in people’s mind. They are offering villas (houses) of four types – Nova, Regional, Heritage and Legacy. Buyers may select according to their budgets and lifestyle expectations.
All communities are well connected to institutions, offices, markets and leisure places. All communities are assimilated and becoming popular all over the World. Areas like Jumeirah Park, Dubai Sports City have become the choice of investors and buyers.
8. Diverse places in Dubai :
Dubai is the most diverse city in the World, as said in The World Migration Report. Dubai also offers great safety and security to its citizens. Thus almost 80 percent of the citizens are not real Emiratis, migrated instead. They possess different cultures and traditions. So Dubai is really diversified indeed. People who want to experience such diversity, they would like to live in Dubai.
Dubai is not only diverse in culture, but also diverse in places and properties. Buyers have plenty of options to select among beach lifestyle, workplace culture, aristocracy etc. Investors may also think where to invest. As example, workplace culture in Business Bay and beach lifestyle in Palm Jumeirah.
9. Dubai is the place for tourists :
Dubai is one of the major global hubs and one of the greatest cities in the World. This city is diverse in culture, people, nature, artificial works and establishments. It has made the city more vibrant, perhaps the greatest on the Earth.
So, Dubai has become the dream destination of travel enthusiasts from all parts of the World and the pride of Asia.
Artificial archipelago Palm Jumeirah has amazed the World with its aesthetics, architecture and infrastructure. People want to visit and live there. Palm Tower is the highest rising people would find. 830 meter heightened Burj Khalifa is the highest skyscraper in the World, the pride of Dubai and the major attraction of architects. Those who love shopping, The Dubai Mall, the largest in the World, is a must visit place.
If you want to see The Wonders of the World, you may visit FALCONCITY OF WONDERS and yes, you may buy apartments there. Ras Al-Khaimah refreshes people with its beach lifestyle.
Tourists visit Dubai all over the year. They need hotels to stay. So if you let your hotel to rent, you would gain a lot without paying any tax.
10. Positive role of Dubai Government in Real Estate Industry :
Dubai Govt. always back up and try to boost the real estate industry. Their positive role makes this sector dependable in Dubai, so foreign investors don’t hesitate to invest there. Therefore the socio-economic growth that World may see in Dubai, extensively in UAE, is the result of Govt’s role & Real Estate Developers’ hard work to design the city.
UAE is the country of millionaires. The reason of this kind of richness of UAE is crude oil. The price drop of crude oil in 2014 hit the real estate industry in Dubai, the sector turned into buyers’ market only. But the incentives, willingness and policies of UAE Govt. has let the sector come out and flourish.
Govt. issue long term VISA for investors, it produces patience among foreign investors. Formation of committee for real estate industry, alliance between Govt. and private sectors have increased dependability on this sector, special court has been developed to solve the property issues within 3 months. So investors don’t hesitate to invest there.
11. Dubai is a Global Hub :
Dubai is one of the significant global hubs of the World. It is well connected with other places. Dubai International Airport (DXB) is one of the busiest international airports. People from all parts of the World come to Dubai for various reasons – business, job, trip etc. This cosmopolitan city is already developed in all kinds of financial services, tourism, trades and the important aspect is, it is developing day by day with vast community and human resources.
Dubai Govt. possess a positive role here by minimizing the obstacles that business personalities and investors used to face before, also bureaucratic directives have been simplified to promote foreign investment.
Some zones in Dubai are instructed as Free Zones, foreign investors are not compelled to have Emirati partner there to do business.
12. Sustainable Development in Dubai :
Dubai is developing for more than two decades. Dubai and other six Emirates of UAE are united at the same point of the country’s sustainable development as UAE is one of the major catalyst of United Nation’s Agenda 2030. Sustainable Development is one part of the resolutions and UAE is almost successful in fulfilling all the goals very effectively, but massive urbanization in UAE is been the small dark spot on the white paper, because such tremendous developing projects may cause scarcity of local resources and environment issues. But as Dubai is one of the fastest developing cities, it creates scope and opportunities to invest and do business of tidy sum.
13. Dubai is a workplace :
Since Dubai is well connected to the rest of the World and provide standard lifestyle and infrastructure, Dubai has become a choice workplace for job seeking people. The job market in Dubai is growing year-on-year. Most of the companies are willing to hire large number of employees
People from different nations come to Dubai in search of work. So the job environment is courageous. English is accepted as language of conversation besides Arabic. So language is not a problem for job seeking people coming from different countries.
Dubai is a developing country, so opportunities for jobseekers are increasing every day. Buying property there and letting it to rent for them is a gaining option.
14. Reasonable price of properties even at most popular areas :
Every region of Dubai is well connected to each other and important places. So, even at the popular areas like Ras Al-Khaimah, the price of property is not much higher comparing to other areas. There are diverse places in Dubai, but every place has own significance. So you would get good property at reasonable price, also at popular areas what one may not imagine in other metro & Cosmo cities.
15. Much better amenities of property :
People may get much better amenities from a property and infrastructure at low price, which is not possible to get in other global hubs like London, Tokyo, New York, Mumbai etc. If you buy property in Dubai, you don’t have to be worried about getting buyers.
16. Good Return Of Investment :
Dubai is socio-economically growing every day. The relation between Govt. and private sectors is good. Developers are engaged in designing the city. Many people are going to Dubai every day from various places of the World. They will be happy to stay there. So if you own a property in Dubai, you will get good return (ROI) as you sell it.
So if you are willing to invest in real estate, Dubai is a worth place to increase your wealth. With so many facilities, who doesn’t want to live in Dubai! So, buy properties in Dubai, buyers are waiting to give you a hike!