Why is investment in Dubai property more rewarding than in other global markets?
When you invest in bricks and mortar, you look at the long-term benefits. There’s nothing worse than finding out you could get more for your money elsewhere, and your income simply isn’t building.
Several key attributes draw investors, many from the EU, to Dubai’s property market. Our leading Dubai real estate agents, examine them here.
Is it time to choose a safer route to real estate success?
Dubai’s property market isn’t built on mortgages alone
Over many years, a trend in cash buying has taken over Dubai’s property market. It is easy to see why considering that you save on paying mortgage interest when you buy in cash.
According to the Dubai Land Department, mortgage transactions fell by 27% in the first quarter of 2022. It is a property market bolstered by real wealth and seasoned investors, not by the volatility of mortgages.
A tax-free haven for investors
Dubai's tax-free incentives are a magnet for expatriates and property investors worldwide as a less restrictive way to build wealth.
If you buy a property to rent out, which is a popular move on the market, you will not be taxed on your income, as is often seen around the world.
In addition, you will not pay any capital gains tax, which will give you more means to invest further.
As you can see, you can stretch your money further in Dubai. But what is equally encouraging is that property prices continue to rise, which adds more value to your investment over time.
Fairly priced market from an international perspective
Dubai has many types of properties to choose from, but with two dominant characteristics - they are high quality and surrounded by essential as well as luxury amenities. Particularly the new projects in Dubai. That does not mean that they have an exorbitant price tag.
Property in Dubai, for example, costs an average of $5,918 per m2. In Turkey, you can expect to pay $8,930 per m2. And Canada, $10,947 per m2.
The properties themselves continue to advance in functionality and environmental friendliness to the benefit of the residents.
UAE Golden Visa opens up endless opportunities for new residents
Dubai's real estate market held up enormously at the height of the pandemic. The government did not sit back and wait for its economic effects. Instead, they forged incentives to stabilise the industry.
Golden visas were introduced in 2019. They allow certain workers from abroad to live on a renewable residency visa valid for 10 years.
As of this year, you no longer need to be sponsored by an employer or limit your stay outside the UAE if you have a Golden Visa. Also, the ability to sponsor the visa of immediate family members.
How do you know whether you are eligible for a Golden Visa?
Investors can buy a property worth more than two million AED to reap the benefits of a constantly developing country.
Other parties eligible upon meeting certain criteria include entrepreneurs, exceptional talents, scientists, professionals, outstanding students and graduates, humanitarian pioneers and frontline heroes.
For personalised advice on buying property in Dubai from an investment perspective, contact our Dubai real estate agents with extensive expertise in this sector today at +971 501536873.
Explore stunning new projects in Dubai.