Popular for the tallest buildings globally, the record-breaking stats and the abundance of luxury, Dubai is one of the most appealing cities to purchase a property in. This city is always rearing towards high economic growth. In the future, it’s surely going to thrive more.
Apart from the exciting upcoming projects, Dubai will keep attracting a high amount of Foreign Direct Investment and global talent. LuxuryProperty.com – Luxury Real Estate Broker has mentioned the 26 reasons why Dubai is an ideal city for real estate investment.
1. No yearly property taxes
There is no property tax or capital gains tax in the city. After you buy a property, you won’t have to pay extra taxes. The only thing you will pay for is the property and the off real estate transaction fee. This is the number one reason why investors flock towards Dubai.
2. Outstanding financial rewards
The city boasts the 5th highest economy globally. The Dubai’s government is always striving to make the Emirate competitive by initiating new measures for boosting the business environment and fueling permanent growth.
People who invest in Dubai property and enjoy customized payment plans which are made according to their financial status. For residents, the interest rate is 4.5% whereas it is 5.5% for non-residents.
Boasting a balanced currency and unlimited remittance, the city provides unrivaled financial security. People prefer investing here because Dubai is progressing rapidly. Investment offers a simple exit and a guaranteed 10-year visa in most cases.
With the rise in population, people will demand more homes. Dubai is expanding each year and the real estate market is growing to add attractive projects from world-class developers.
3. High yield on investment
According to JLL’s report called ‘World Cities: Mapping the Pathways to Success’, Dubai was at the top of the hybrid cities list. Hybrid cities are medium-sized and they rival in specific markets while taking advantage of huge domestic markets.
When it comes to real estate, the reliability and luxury of Dubai makes it an excellent hybrid city. It’s a new world city and an emerging city as well. According to the other cities mentioned on that list, Dubai had a superior liveability.
Investors can enjoy high rental returns in Dubai as compared to other mature property markets. Since the Dubai real estate market is experiencing a correction phase, it’ll feature a more solid and balanced supply of upscale residencies soon.
4. Powerful infrastructure
Dubai is undergoing a genius recovery from this year along with the solid confidence of investors and it’s promising infrastructure. The government of Dubai has an unshakable belief in the city’s impressive infrastructure.
Dubai is a city which offers a well-planned infrastructure and superior standard of living which continues to get better. You should definitely invest here due to the regular increment in developments.
Apart from Burj Khalifa and a man-made island, the city boasts some of the tallest and coolest buildings in the world. The Dubai International Airport is extremely fast and busy. As for the seaport, Jebel Ali Port is the biggest man-made seaport in the world.
5. Dubai EXPO 2020
Expo 2020 is one of the biggest events held in Dubai. It was previously scheduled between 20th October, 2020 and 10th April, 2021. However, the COVID-19 pandemic delayed the event. Now, it is scheduled for 1st October, 2021 to 31st March, 2022.
In order to keep everything running smoothly, many events are now taking place virtually. Since the world is shifting towards the digital side, Expo 2020 will also operate on a hybrid model. It will display both virtual and physical experiences to the visitors.
Expo 2020 will be the biggest global business event since the pandemic. This shows the dedication of Dubai to economic growth. Moreover, investors and entrepreneurs will be able to catch potential opportunities.
6. Excellent hospitality
Dubai gained 16.73 million international overnight visitors in 2019, as revealed by Dubai’s Department of Tourism and Commerce Marketing. In the next year, the city could not receive the expected 20 million visitors due to the pandemic. Even on the New Night of 2021, Dubai was there to welcome visitors but it didn’t go well.
7 out of 10 tallest hotels are in Dubai which makes it a global destination. High-net-worth individuals love traveling to Dubai. It’s a city which satisfies the eclectic tastes of people. Dubai is a retreat of connoisseurs with locations unveiling the dynamic nightlife and outstanding food.
7. Business hub of the UAE
Dubai is at the center of international trade and the gateway to the Middle East. It is home to ⅓ of Fortune’s Top 500 Companies because the city attracts business talents from everywhere. It’s also on the list of the world’s Top 20 Cities Global Power Index 2020 (GPCI).
The Emirate is gaining more momentum now through the great legal framework for businesses to expand and a free Enterprise system. Still, tremendous growth is anticipated in Dubai by the international business leaders.
8. A shopping paradise
Dubai is also home to some of the biggest shopping malls. It was ranked as the most important international shopping destination globally by CBRE in 2018. The Dubai Mall is the world’s largest mall. Currently, the city is planning to add another retail space for 1.5 million square feet. Moreover, market entrants and retail brands are frequently being added.
9. Prioritizing your Happiness
Dubai is determined to be the happiest city in the world. With a scientific and methodical technique, Dubai Happiness Agenda boosts happiness in the residents. 16 programs have been made to improve contentment and positive psychology.
10. Unbeatable real estate developments
Unbeatable real estate developments in the city are only going to grow. In January, 2021, a record sale in the city’s realty sector was observed. According to Copperstones, many upscale properties are in a few developments in Dubai.
11. High rental returns
Dubai offers one of the highest rental returns in the world. As opposed to other property destinations, the price of purchase is lower in the city and it also generates a high rental return. This is why investors are tempted to purchase property in Dubai.
12. Growing population
Dubai is one of the most rapidly growing cities in the world. In the last 40 years, the recorded population growth was 1000%. In 2017 alone, the city boasted 3 million residents and most of these were expats who belonged to 190 countries. This is estimated to double in the coming years.
13. Safe and stable
The Middle East is one of the safest countries in the world. According to the World Economic forum, UAE was ranked as the third safest country. Some of the biggest reasons for this are strong government initiatives and a stable law and order system. This is also why so many expats are attracted to either settle or invest in Dubai.
14. Strict regulations
The city boasts a strong Real Estate and Regulatory Agency (RERA) which strengthens the strict framework of rules and regulations. These transparent policies maximize the rights of investors and permanent growth of this sector.
15. Booming tourist industry
Who wouldn’t like Dubai? There is almost everything to do in this vibrant city. From the adrenaline pumping desert safari, high octane skydiving, top-rated spa sessions, thrilling water park rides, spacious shopping malls, and spectacular wildlife experiences, Dubai has something for everyone. Even if you are simply a foodie, you will be lost in the countless amazing available options for all types of eateries.
Owing to all these reasons, the tourist industry of Dubai remains hyped up throughout the year. Lots of tourists visit this city in order to gain a wonderful and unforgettable experience. A big chunk of the global tourist attractions reside in Dubai.
16. Aviation hub
Dubai is strategically situated with almost 70% of the world’s population that can be reached via an 8 hours flight. This is why the Dubai International Airport is the most busy international passenger hub in the world. In 2017 alone, 85 million people passed through this airport.
17. Property investor visa
Investors who buy a Dubai property more than AED 1 million (equivalent to US $272,294) become eligible to apply for the Property Investor Visa. This is a renewable visa which allows the person to gain an Emirates ID, sponsor the family and UAE driving license as well.
18. World leading sporting events
Dubai is the city of the most upscale sports events in the world. This is why Dubai remains in the global spotlight of the sports industry throughout the year. The premier golf championships (Dubai Tennis Championship, Omega Dubai Desert Classic, Dubai World Cup, and Dubai Rugby Sevens) along with the most expensive horse races in the world are all held in this city.
19. The Museum of the Future
The Museum of the Future allows people to witness the future via interactive exhibitions and the latest simulations. The museum includes science based conferences and provides advanced courses on the recent scientific trends and achievements.
Moreover, the museum concentrates on solutions to the major issues springing from global climate change. These solutions are self-sufficient cities, water supply and food security.
20. Low crime rate
The sense of safety is a great perk of purchasing property in Dubai. Even minor crimes are very rare in this city. If you ever leave your wallet in the car by mistake, there is very little chance of it to be stolen.
21. Excellent transport routes
The city is gradually progressing it’s transportation infrastructure. For instance, The Hyperloop One by the United States is making a special transport route between Abu Dhabi and Dubai. Hyperloop One is getting ready to introduce the world’s first operational Hyperloop system.
This will let people go between different Emirates in pods at 1,200 km per hour. The aim of this venture is to offer transport from Dubai to Abu Dhabi in only 12 minutes. This project estimates that almost 4,000 vehicles travel each day from Abu Dhabi to Dubai.
22. Upscale restaurants and entertainment
Dubai is a great city if you love food and want to discover luxurious eateries. On the other hand, Dubai is equally valuable for adventure loving souls. The city provides distinct experiences through yacht communities, desert safaris, beaches, water parks, skydiving, relaxing spas and so much more.
Moreover, gourmet restaurants and bars are scattered throughout each region and district of Dubai. From their menu to cuisine to ambience, everything is topnotch.
23. Multinational city
People from more than 120 countries reside in Dubai. This leads to a multicultural atmosphere of Dubai where different languages and experiences are shared. However, the majority of people can speak English which means there is no issue in communication. The multinational and multicultural environment has many nice opportunities for everyone.
24. Natural beauty and sunkissed weather
If you desire a perfect combination of beauty and the highest upscale lifestyle, look no further. Dubai is the definition of this blend. The eye-catching city boasts stunning architectural art along with the undisturbed beauty of nature. You can catch sunsets, stroll in lush greenery or bask at the beaches.
Apart from this dynamic lifestyle and experience, Dubai offers pleasant summer weather almost throughout the year. Who wouldn’t love going to the beach all year round?
25. High income
Dubai is a city where you can easily score desirable jobs with high salaries as opposed to other cities in the world. The usual high income maximizes progress, happiness, safety and comfort for everyone.
26. A compassionate government
The role of government in the happiness, prosperity and success of citizens is very crucial. The residents and citizens of the UAE are treated with the highest quality and regard to their life standards.
The compassionate government of Dubai is always striving to increase the progress and happiness of citizens by implementing better and new laws. It is due to the efforts of the government that the atmosphere and living standards of Dubai are so desirable and ideal.
Final words
Future investors who want to taste the lucrative lifestyle of Dubai can surf through many projects, communities and properties. There are some really stellar real estate developments in the city such as The Residencies – Dorchester Collection.
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