With its luxurious lifestyle, breathtaking views, and skyscrapers, Dubai never fails to astonish visitors. It is one of the best destinations where people dream to live. This is true for investors who are getting more and more interested in dipping their toes in Dubai's real estate market, as well as for expats who seek to live and work there.
In current times, Dubai has emerged as a prominent destination for foreign investors looking to buy homes and long-term rentals. Also, European nationalities from Italy, Russia, UK, and France have topped the list of buyers of real estate by nationality in Dubai.
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The real estate market in Dubai is quite fascinating for a variety of reasons. Here are a few justifications for why Dubai is currently the best location for investors:
1) Residence Visa:
The first and foremost reason to buy a property in Dubai is to obtain a residence visa. However, you have to buy a property worth AED 1 million in Dubai to get eligible for the investor visa. Also, you must confirm that the property you are purchasing is not off-plan or under a mortgage.
The Dubai Economic Department will require a copy of your passport and the title deed before issuing a trading license after getting approval from the Dubai Land Department. After that, you can visit the immigration office to obtain a 2-year residency visa.
You can also obtain a 5-year renewable visa if you invest in a property worth more than AED 5 million. However, the visas can only be renewed as long as you continue to be the property's owner.
2) No annual property taxes:
Another significant factor that distinguishes Dubai in the eyes of European and other investors is the absence of a property tax! Due to their exemption from annual property taxes, income taxes, and capital gains taxes, foreign investors investing in Dubai don't have to worry about paying taxes, thus making a long-term investment.
This is because investors only have to pay one-time property transaction fees and registration fees when they purchase a property. In addition, due to the fact that investors may rent out apartments or buildings and pocket their tax-free profit without worrying about additional fees, Dubai becomes an ideal investment location.
3) Great weather:
Dubai is renowned for its breathtaking views and beautiful sunshine. You may take advantage of plenty of sunshine all year long. Winter and summer are the two distinct seasons in Dubai. Winter begins in October, and summer in May. It experiences hot, sunny, and clear skies the entire year.
4) Livability – A Major Selling Point:
With an unmatched standard of living in comparison to big European cities like London or Paris, Dubai is widely regarded as one of the best cosmopolitan places to invest in. So, it makes sense that European investors are buying real estate in Dubai , given its first-rate infrastructure and necessary security measures.
Additionally, European expats adore living in Dubai because of its comfort, stability, and safety. They also invest in its highly regulated and open real estate market. Also, the fact that the interests of investors are well-protected, provides European investors with a great deal of comfort that their investment in Dubai is secure.
5) High living standards:
Dubai is on every list of opulent cities on the globe. However, it is mainly known for having a luxurious lifestyle: one of the best in the world! But Dubai is not just famous for its glamorous lifestyle, but it's also the ideal destination where everything you might want redefines luxury. That is why investors invest in this city of luxury and hope.
6) Security & Safety:
Due to its safe and secure surroundings, Dubai is not only among the best locations to live but also among the best places to raise a family. In addition, there are hardly any violent crimes, and the crime rate is extremely low.
As one of the safest countries, Dubai is a great place to invest, while other countries have been attempting to lower their rising crime rates. They use the most recent technology to apprehend criminals and execute strict and severe laws against crime. As a result, robberies are almost nonexistent, and minor fights on the side of the road normally settle peacefully.
7) Innovation & Advanced Technology:
Today, every investor seeks the opportunity of living in a modern and smart city. In Dubai, you may find all of this with the greatest ease. You can take advantage of a number of amenities there, including a developed infrastructure, cutting-edge facilities, and interesting entertainment options. Because Dubai offers some of the best amenities in the world, many people choose to invest in real estate there. If you also want to buy luxury properties in Dubai , always choose a reputable real estate company like Unique Zone.
8) High Return On Investment (ROI):
Due to its expanding population, Dubai has a strong real estate market. Therefore, if you pay a significant amount of money in rent each year, it is suggested that you instead consider buying a home of your own. It will generate a sizable return on investment if you want to sell it in the future.
Additionally, investment properties in Dubai often offer rental yields above 6% on average, which is higher than major global markets like London, New York, or Hong Kong. You may therefore consider renting out your home in order to make money from it.
1) Why Dubai attracts foreign investors?
The majority of foreign investors are mainly attracted by Dubai's strong economic stability, low cost of energy and, more importantly, the tax-friendly policies and an outstanding social and economic infrastructure.
2) Is buying property in Dubai worth it?
UAE is renowned for its investor-friendly practices, simple processes, and hassle-free legal procedures for licensing and registration. So, yes, buying a property in Dubai is worth it.
These are some of the reasons why real estate investors from Europe and other regions are keen to invest in Dubai. If you're also looking to buy luxury properties in Dubai, get in touch with Unique Zone right away. We have professionals that provide excellent services per clients' requirements. We will help you make the entire home-buying process easy and hassle-free. To know more about us, explore our website now.
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