10 Reasons to Buy Apartments in Dubai
Dubai is one of the most appealing cities to buy property because of its tallest structures, record-breaking statistics, and pervasive affluence. Moreover, Dubai is poised for enormous economic growth in the next few years, drawing international talent, increasing foreign direct investment, and even more remarkable projects.
List of 10 reasons to buy apartments in Dubai
Here are some of the reasons to buy your dream apartments in Dubai
Growing population
According to the World Population Review, Dubai’s population is growing at a pace of 10.7% every year. As a result, Dubai is one of the world’s fastest expanding cities in the world. Several new housing developments have already been constructed to accommodate this growing population, providing more investment options for clever investors seeking a larger return on their investments.
Innovation & Consistent Development
Dubai is well on its way to becoming the world’s smartest metropolis. One of the major advantages of owning property in Dubai is that there is always something new to discover. Dubai already has the world’s highest structure, the Burj Khalifa, and now another tower will be built to rival it. The Dubai government’s incentive initiatives are a good hint that investing in real estate in Dubai might be the finest decision you ever make.
Dubai aspires to be the happiest city on the planet
Earlier this year, a new ministry for happiness was added to UAE’s cabinet. The main responsibility of this ministry will be to measure the happiness level of residents and take such actions that will enhance the lifestyle of people living in the emirates and make them happier than ever. With such innovation and dedication towards the general public, one can only imagine how much your property investment will flourish in the coming years in Dubai.
Security
One of the numerous advantages of purchasing property in Dubai is the sense of security that inhabitants experience. This is one of the primary reasons why individuals choose to relocate to Dubai and begin their new lives. Despite the fact that several nations in the Middle East have had and continue to experience political unrest. Dubai remains the most peaceful metropolis in the area.
According to a recent poll performed in the UAE, almost 98 per cent of inhabitants feel safe living and working there. Minor offences are also improbable. Don’t be concerned if you leave your wallet exposed in your car by accident. It is quite improbable that it will be taken.
Property Visa in the United Arab Emirates
One of the most significant advantages of purchasing property in Dubai is that you may be qualified for a resident visa depending on your purchase. However, several restrictions must be met. For example, your house should be worth at least AED 1 million.
You should not have a mortgage on it, and it should be entirely liveable. The visa is valid for three years and can be renewed for a small fee before or after it expires.
Optional Varieties
There is a range of alternatives available when it comes to investing in Dubai’s real estate market and reaping the rewards of owning property in Dubai. Residential and commercial properties are the two basic types of properties.
If you want to invest in residential real estate in Dubai, you may buy an apartment or a villa. If you want to invest in commercial real estate, you can choose among offices, labour camps, and industrial buildings.
Low Acquisition Cost
To be specific, the average price per square foot is USD 468, but the identical property in London costs USD 3,208. This is one of the most significant advantages of purchasing property in Dubai and should not be overlooked.
Increased Rental Return
Did you know that rental yields in Dubai are substantially greater than in other major global real estate hubs? On average, the best-performing districts in Dubai provide a ten per cent rental yield. For example, in New York, the average rental yield is just 3.91 per cent; in London, it is 3.21 per cent; in Singapore, it is 2.83 per cent; and in Hong Kong, it is only 2.82 per cent.
So, on a cautious basis, the rental return in Dubai will be at least 5.82 per cent, making it the finest location for property investors in the world. So, if you want to reap the benefits of purchasing property in Dubai, don’t overlook the higher rental income that your real estate investment in the Emirates of Dubai would bring.
Appreciation of Capital
We all know that time is everything when it comes to real estate or any other type of investment. People who invested in Internet firms such as Twitter, LinkedIn, Microsoft, Facebook, and Instagram, among others, saw their investments skyrocket in the ensuing years.
All because they recognised promise in those prospects and got in at a time when stock prices were considerably lower.
There are no property taxes
In Dubai, there is nothing like property tax. This implies that after you’ve purchased a property and paid the registration cost to the Dubai Land Department, you won’t have to pay any further government taxes on it. This factor alone has a significant influence on the entire rental return of your home.
For example, if you buy property in Hong Kong, you might wind up paying up to 15% in yearly taxes, whereas the ratio in Singapore is 13%, 2.33 per cent in London, and 2.2 per cent in New York. In contrast, there will be no tax charged on your property purchase in Dubai, making the decision to buy property in Dubai much easier for you.
Conclusion
The opportunity to invest has never been better. Continuous fresh supply provides purchasers with a wide range of options while also decreasing the price to more reasonable levels. Purchase apartments in Jumeirah village triangle, an affordable quality property investment with high rental income in the Jumeirah Village Triangle. Want to know more about some of the best communities in Dubai.
Suppose you are a ring where you can make a suitable place for yourself and for your loved ones with all your requirements.
Read More- Vehicle Wrap Advertising for Your Business: Benefits
