Why must you prefer getting property in Dubai?
With prestigious skyscrapers, architectural marvels, and tourist attractions, Dubai has become a business hub for every taste and budget. Besides these attractions, the rising real estate industry is another factor that’s always covered Dubai. Since millions of expats move to the city every year, there’s a significant boost in demand for properties. While some opt for property for rent in Dubai, others gather enough cash to purchase them.
With that said, many unknown facts about Dubai’s property market makes the city worth investing in. So, let’s walk you through some exciting facts about Dubai’s real estate that you might not know.
- Lower Acquisition Cost
Cost-effectiveness has always been a superpower of Dubai’s real estate industry. While a higher acquisition fails to attract buyers and investors, the city provides a much lower ratio to make them desirable and reachable. Therefore, it tends to draw investors from the UAE and worldwide.
- Higher Rental Returns
Rental returns also play a vital role in determining the value of a property. Do you know almost 85% of Dubai’s population is international? So the majority of rental property holders are expats, so finding a suitable tenant for your property is no longer a hassle. Ultimately, it reassures of setting up a considerate passive income.
- Provision of better ROI
With the availability of futuristic facilities, Dubai serves as the main course for real estate investment. And so, the city generates a valuable rental return compared to other metro cities worldwide. Thus, if you’ve planned to purchase a property in Dubai, whether, for personal use or rental purposes, we suggest you not delay your plan any longer.
- Ticket to residential visa
Purchasing a property in Dubai makes you an eligible candidate to apply for a residential visa. Also, there are no restrictions on religion or cultural beliefs, regardless of where you belong. The city welcomes millions of individuals from diverse nationalities and cultural backgrounds.
- There are no property taxes.
Dubai is the only Emirate where you’re not liable to pay property taxes. So, you can profit from buying an untaxed property; how cool is that? The tax-free properties have lifted the game of Dubai’s property market.
- The Center of festivals
Every year, Dubai becomes a keystone for worldly events and ceremonies. All events gradually turn to Dubai, whether global conferences, expos, cricket, or FIFA tournaments. This shift has proven to be the most significant advantage for the real estate market. Therefore, it’s undoubtedly the best time to invest here.
- Safe and Secured Place
Another real estate fact that adds to Dubai’s prosperity is the sense of security that all the citizens experience here. Residents’ family-friendly environment convinced them to extend their stay in Dubai. In some cases, they might even set up their dream businesses here while assuredly reserving their assets and finances. However, you can invest in the property market and reap the benefits later.
There is no doubt that Dubai’s real estate market is booming towards prosperity with stability. With endless opportunities and technological aids, there’s a higher chance of constant growth. If you want to invest in the most prosperous economies, consider choosing Dubai since it’s not stopping anytime soon. Yet, always connect with the right real estate platform to get the best deals.
Visit: Local Movers in Dubai