Why to choose Dubai as a place to settle, and buy your own property? Among the fact that Dubai is one of the world’s number one center of tourism – this city develops very fast, with a speed of light. If you haven’t been to Dubai, at least for a year, be sure to notice that the city changed drastically. Apart from the city development – real estate market, in Dubai, is one of the most attractive type of assets due to mature market, stable economy, and high earning yield.
Currently, many invest
ors have drawn their attention to the fast-developing United Arab Emirates. Its economy has shown stable development and improvement, despite of difficulties in 2016. Such industries, as: wholesale, retail trade, construction, tourism and hospitality demonstrated good performance and numbers. Upcoming Expo 2020 has changed some development trends in UAE, and in Dubai, in particular. This is another reason for investors to accumulate their assets into Dubai property.
Expo 2020 and Dubai property
Expo 2020 is expected to be one of the biggest and most spectacular events, in UAE. Preparation for this exhibition has started already, and requires significant investment of UAE government into infrastructure, local real estate market whe
ther it is housing, hotels, or commercial property. It is expected that Expo 2020 will attract more than 25 million visitors, in the first 6 month.
In addition, interest in residential properties of the city has arisen among immigrants, arriving to the city on a permanent job. As a rule, so-called expatriates prefer to rent their own property. Nevertheless, in recent years there has been another trend – more and more expats thinking about purchasing their property. As in the case of moving home they have an opportunity, during their absence, to lease their property and have a stable income.
Main advantages of buying a property in Dubai
- First of all, it is important to look at other big cities, and its property prices. At the moment, the cost of housing in Dubai is much lower than in other major world markets such as: New York, or London. This is largely due to the “age” of the market. Nevertheless, over the last decade the price indices of real estate market continued to grow and, in a few years, will match performance of popular European and North American markets.
- Secondly, when buying property, private investors have the opportunity of obtaining a property visa.
- Third – United Arab Emirates has no income tax. This greatly increases the profitability of investment into real estate market. The yield of local real estate, usually on the order exceeds similar indicators of other markets and could reach up to 10% per annum.
- Forth – United Arab Emirates is one of the most secured countries, in the world. According to the World Economic Forum (WEF), the UAE has been ranked in top three safest countries in the world.
It is well known that the best investment is investment into property. comparing to other countries, United Arab Emirates, and Dubai in particular has improved its image of the “city of the future”. Need more proves that Dubai is one of the best cities to invest? Contact one of our property adviser for more information on real estate market.