UAE: Eight top reasons to buy property in Dubai
Golden Visa, tax-free income, world-class amenities are some of major attractions
Dubai: Are you planning to invest in the Dubai’s property market, here are some top reasons why to do so.
Due its top- class lifestyle, booming travel and tourist sector, state-of-the art healthcare and education facilities and above all high returns on investment, Dubai is indeed a goldmine for property investors. Emirate is expanding with new attractive projects and investors flocking in the country from all over the world. Travels Dubai brings you the top eight reasons to invest in Dubai's real estate market.
1. Transparent and regulated market
Dubai’s real estate market is known for excellent regulations with complete transparency behind every sale and ease of doing business.
Being rated as one of the best and most transparent markets in the MENA region, Dubai’s real estate market shows no signs of slowing down. With transactions rising by 19.3% in Q1 compared to this time last year, Dubai has become a magnetic city that has attracted global investors, offering abundant opportunities for property investors.
2. Golden Visa
Since 2021, the UAE has announced the introduction of a ten-year residency permit known as Golden Visa. There are several categories through which you could apply and the investment in property can get you the Golden Visa along with your family members.
You can now obtain a golden visa in the UAE if you own a property or invest in Dubai’s real estate market with a value of over Dh2 million, and you don’t even need a down payment. This attractive long-term visa has also caught the attention of several foreign investors.
There are several luxury units around town, the majority being in the off-plan phase which crosses the Dh2 million mark.
3. Highest rental yields
The main reason why investors consider Dubai’s property market a goldmine is because of its exceptional rental yields.
Dubai has also consistently ranked as one of the top cities globally for rental yields.
The city's booming tourism industry and the influx of expatriates created a strong demand for rental properties through which investors can enjoy impressive returns on investment through rental income, especially in sought-after areas like Dubai Marina, Downtown Dubai, and Emirates Living.
Not to mention, short-term rentals have promised many investors up to 30% in returns!
4. Tax-free
Dubai's tax-free living is remarkably favourable for investors. There is no income tax on rental income, capital gains, or inheritance. This tax-free environment has enticed investors to maximise their returns, making Dubai an attractive destination for international investors!
5. Demand for short-term rental
Dubai's tourism sector continues to expand, drawing millions of visitors annually.
This year, in just Q1 Dubai’s population grew by 25,700, while DXB Airports welcomed 3.67 million new tourists.
Through this, the demand for short-term rentals and holiday homes is on the rise. Investors can capitalise on this trend by investing in properties that cater to tourists, such as furnished apartments and vacation villas.
As per Allsopp & Allsopp first-party data, holiday homes in Dubai met their annual projections within six months, while waterfront properties were likely to meet their annual projections in less than six months.
6. A stable economy
Dubai has a diverse and resilient economy, which for decades has been an attraction to foreign businesses and new residents.
It serves as a global hub for trade, finance, and tourism, which comes as no surprise as the city’s GDP is predicted to grow by another 5.2% in 2025.
The government's commitment to economic diversification has always ensured a stable investment environment and this stability is further expanded by a strong legal framework and transparent property laws in the market.
7. Rising demand
While supply in the city has been catching up to the market’s rising demand, Dubai’s property market is one of the highest in-demand places.
Foreign investors, businesses, individuals and young adults relocate to Dubai in search of homes, rentals and investments - this entails the market’s rising demand and high rental yields.
This demand isn’t set to slow down anytime soon, as many new developments are on the rise. We have also seen many new businesses and residents relocate to Dubai.
8- A lifestyle like no other
The lifestyle, living standards and upscale livelihood one can have in Dubai is pretty much self-explanatory from seeing the city itself. Residents enjoy world class healthcare, schools, universities and top-class luxurious amenities with great sense of safety and security.
Courtesy: Allsopp & Allsopp, a leading property broker in the UAE