Dubai is one of the most alluring locations because of its record-breaking statistics, tallest structures in the world, and pervasive affluence. With a focus on rapid economic expansion, Dubai is expected to prosper in the coming years by luring top talent from around the world, more foreign investment, and more eye-catching projects. Dubai has a thriving property market with something to offer everyone, from luxury apartments overlooking the Burj Khalifa to spacious villas in gated communities.
There are plenty of reasons to invest in Dubai property, including its stable economy, tax-free status, and excellent infrastructure. In addition, with the average rental yield in Dubai around 7%. It is no wonder that more and more people are choosing to invest in this vibrant city. Whether you are looking for a place to live or property for investment, Dubai should definitely be on your radar. We have eight major reasons to invest in Dubai. Let us look:
1. Multi-Cultural Communities
Dubai is a city of multicultural communities. It is easy to see why the multi-cultural community in Dubai has been on an upward trend. From an influx of expats and tourists, there is always someone looking for new homes or property investments. That will provide them with a steady income while also worthwhile due to their diverse culture.
2. One of the Safest City in the World
Dubai is one of the safest cities in the world, with an average tourist safety index rating two points higher than other popular global destinations. With a high-quality education system and strict laws against begging or homeless people living on its streets (they are forbidden by law), it is no wonder that more expats are choosing this warm-weather destination for their lives abroad.
3. Tax-Free Property
The absence of property tax is a significant advantage of investing in Dubai, particularly in the real estate sector. Dubai is the finest place to invest because there are no capital gains or property taxes there. Following the initial purchase of a property, owners only have to pay the one-time real estate transaction charge.
4. Easy Connectivity
Different popular places in Dubai are easily accessible. Many famous property projects are connected to Sheikh Zayed Road. There is easy access to Al Maktoum Airport and Dubai International Airport. Whether you have your own car or not. If you do not have a car, you can reach different places at reasonable prices through different and easy means. Such as water taxis, metro stations, cabs, and buses
5. Long Term Residence Visa
Investors in Dubai and personnel in specific skilled professions were promised 10-year residency visas earlier this year. This will undoubtedly have a significant impact on Dubai’s economy. Having committed to such a long-term residency choice demonstrates Dubai’s level of investor confidence and highlights how secure investing in the city is overall. Additionally, it was declared that companies in the UAE would no longer be required to have a majority shareholder who is a citizen of the country. This will surely encourage more people to start their own companies.
6. Stable Currency
In recent years, investment in Dubai real estate has increased dramatically. One of the main reasons for this sudden change? Stable currency. Even the 3.67 AEDs are equal to one USD. Investors are flocking from all over the world because they know that here there will always be level ground. In addition, they do not need to worry about their money going up or down against other currencies on any given day.
7. Excellent ROI
Dubai has made a name for itself in the international real estate industry in the course of just a few decades. Dubai boasts some of the best returns on property investment when compared to several of its competitors throughout the world, such as New York City, Hong Kong, & London. Returns can reach double digits in some locations and on some properties, reaching up to 6% on average. Dubai is a tremendously profitable alternative for astute investors.
8. Economical Hub of Middle East
A true hub of global commerce, Dubai serves as a gateway to the Indian Subcontinent, the Middle East, and Central Asia. Dubai, which is home to one-third of Fortune’s Top 500 Companies, draws business professionals from all over the world. Dubai also merits inclusion in the Top 20 Cities list of the Global Power Index 2020. (GPCI).
The Emirate is delivering a great legal framework for companies to grow inside and a free enterprise system, which is why it is rightfully gaining momentum. Business executives see Dubai as an undiscovered market with enormous development potential.