From the tallest buildings, opulent man-made islands to the biggest malls and state-of-the-art infrastructure, Dubai continues to wow the worlds with its development and incomparable vision. A slew of diverse infrastructure projects, steady uptick in FDI and a transparent bureaucratic system makes Dubai one of the most attractive destinations for those looking to invest in international real estate.
If you needed any more reasons, we’ll give you seven:
1. Dubai connects an expansive market of 2.4 billion consumers
Dubai’s strategic location makes it one of the world’s most important economic nodes connecting the Middle-East, Asia, Africa and Europe. It is home to a majority of Fortune 500 companies and features amongst the world’s Top 20 Cities Global Power Index 2020 (GPCI).
2. A truly ‘global city’ with 88.5% of its population comprising of foreign residents
Dubai is one of the most cosmopolitan cities in the world. It has a burgeoning economy that attracts the best talent from across the world. The city not only offers its residents a high standard of living, but also consistently works towards enhancing the quality of life with the ‘Dubai Happiness Agenda’.
3. Dubai’s real estate sector is geared towards a promising recovery with residential prices expected to rise by 2.8% in 2022
Dubai offers higher affordability compared to other global cities such as New York, London and Hong Kong, as per UBS’ Global Real Estate Index. With tremendous scope for growth, this is a great time for investors to capitalise on the price correction brought on by the global pandemic.
4. Buy-to-let investors can earn lucrative rental yields close to 7%
With the ever increasing expat population, there is a continuous demand for new homes. From high-rise apartments and lofts to villas, townhouses and even retirement homes, there are real estate options available for every need and budget.
5. 0% property tax
Other than the transaction fee on sale of residential property, there are no other municipal or property tax to be paid. This further reduces cost of ownership.
6. 100% repatriation of capital and profits
UAE is a tax haven and bestows significant benefits according to the International Tax Competitiveness Index (ITCI). There is no tax levied on any personal income or gains from a real estate transaction, which is another factor that makes Dubai a preferred choice for international investors.
7. Gateway to residency visa
As an added incentive to attract international investors, the government of UAE has introduced new visa laws that fast-track a path to residency. Investors are entitled to a three-year residency visa for investments in real estate assets valued above AED 750,000, a five-year residency visa for investments above AED 5 million and a 10-year residency visa for investments above AED 10 million (subject to certain conditions).
Are you ready to buy a home in Dubai? Come spend a day with Range. Book a slot with us – reach out to +971 507672643
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