“Land monopoly is not only monopoly, but it is by far the greatest of monopolies; it is a perpetual monopoly, and it is the mother of all other forms of monopoly.”
– Winston Churchill (Former Prime Minister of the United Kingdom)
Do you know, the real estate market in Dubai is currently booming? The extensive luxury new properties in Dubai attract tourists with its modern infrastructure and world-class facilities. Not only that, but this metropolis offers additional business policies, high security, and various premium amenities to international visitors.
Let’s dive deeper into this topic and understand the major reasons for this dramatic spike in the Dubai real estate market. Additionally, we will explore some of the best locations in Dubai to buy properties.
5 Reasons Investors and Tourists Should Consider Buying Properties in Dubai
If you are also wondering if/why you should invest in real estate in Dubai, the following five reasons explain why Dubai has become a hot spot for property investment, that will help you make a better decision:
Tax Benefits
One of the major reasons that encourage most tourists and investors to buy property in Dubai is their no-tax policy. In most countries, you are required to pay as high as 2-3% of the total cost as tax. But that is not the case here, so you do not need to worry about taxes eating your profits.
On top of that, there are no capital tax gains either, meaning that if you sell your property after a few years of buying, your profits will remain safe and tax-free.
FUN FACT Over 80% of Dubai’s population are expatriates.
Strong Tourism Industry
Dubai is home to several tourist attractions like the Burj Khalifa, Palm Jumeirah, Burj Al Arab, and the Dubai Mall. Every year millions of tourists visit this country to explore the wonders it has to offer, this generates a rise in the demand for rental properties, which can bring immense profits to the property holders there, making real estate an excellent investment.
Luxurious Lifestyle and Quality of Life
Most people consider safety to be a major factor before investing in any property. Luckily, Dubai is among the safest cities in the world. In addition to that, the low crime rates, world-class healthcare, and education make it a dream place for many.
Moreover, the luxury offered there is unmatched. Residing in a high-end neighborhood, enjoying an exclusive shopping experience, and indulging in a fine-dining experience at the top, you can experience it all in Dubai.
Golden Visa and Residency Perks
The government in Dubai offers long-term residency visas to international travelers, which allows them to build better connections in the country. Those with investments higher than AED 2 million in Dubai property are allowed to acquire a 10-year golden visa. This permit brings them more stability and also enhances the market appeal of their property.
Attractive Payment Plans
Not everyone can afford to pay the entire amount upfront. To help such people out, many developers in Dubai offer favorable post-handover payment plans. This way, even those with restrictive budgets can buy properties in Dubai.
These reasons explain why Dubai is not just a good – but the best place to invest in property.
DO YOU KNOW? Dubai’s real estate market is known for its dynamism and remarkable growth, but in 2022, a significant surge in this sector was observed, and since then it has been on the rise.
Most Preferred Location to Buy Property in Dubai
We have established that buying real estate in Dubai is a smart choice. But to take your profits up a notch, you should consider properties from the following locations as they offer the best lifestyle, property value, and return on investment:
1. Downtown Dubai:
Properties in Downtown Dubai are perfect for people seeking a high-end living neighborhood. This area is always bustling with city life and is home to the famous Burj Khalifa. From studio apartments to 5-bed townhouses, this place offers diverse options for property purchases.
2. Dubai Marina:
Dubai Marina is known as ‘the tallest block in the world’ due to the towering skyscrapers at this place. It is a residential district offering a relaxing vibe and lavish lifestyle. Here you will find mixed-use properties including residential, commercial, and hotels. For those who prefer a vibrant and fun-loving lifestyle, Dubai Marina is the perfect choice.
3. Palm Jumeirah:
Palm Jumeirah is a man-made island in the shape of a palm tree, it is one of Dubai’s elite residential locations and a major tourist attraction. The beach-facing villas and premium apartments here can prove to be an attractive investment. The well-distributed amenities and high-security standards at this place provide peace of mind to the residents.
4. Arabian Ranches:
Arabian Ranches is the perfect place for those who are thinking of relocating to Dubai with their families. This gated community in Dubai boasts top schools, shopping centers, golf clubs, community parks, and playgrounds, making it ideal for families.
5. Business Bay:
Because of its high return on investment, Business Bay has become a hotspot for real estate investments in Dubai. Due to its proximity to business hubs, it is a preferred choice for working professionals.
These are some of the best places to buy property in Dubai. They offer a diverse range of properties for different investment needs and are also favorable in terms of monetary aspects such as ROI and investment value.
Wrap Up!
Currently, the real estate market in Dubai is flourishing. The major reasons for this surge include favorable tax benefits, a strong tourism industry, a luxurious lifestyle, residential perks, and favorable payment plans.
Dubai is filled with attractive locations where you can invest in the property. The most preferred options list Downtime Dubai, Dubai Marina, Palm Jumeirah, Arabian Ranches, and Business Bay. So, what are you waiting for, invest in property in Dubai today and enjoy the unprecedented perks and lavish lifestyle there.
