Five Reasons to Invest in Dubai
The world of United Arab Emirates is amazing. Sunshine year-round, stunning beaches, desert safaris, enormous shopping malls and a host of breathtaking infrastructures such as Burj Khalifa and the Palm Jumeirah are some of the exquisite assets UAE fascinate tourists with when they query for a memorable vacation.
Here are five reasons to invest in the Dubai Real Estate:
1. Great Investment Returns in Real Estate
There is a great opportunity for real estate investment in UAE cosmopolitan market where property prices are still comparatively low. Dubai could be considered the New York of the Middle East by comparing the high-end leisure amenities and business facilities while offering a surpassing location and cost.
A million $ will easily buy you 146 square meter property in Dubai against a property of merely 25.2 in London, and 40.2 in New York. With the increasing number of tourists and consequent demand for residential and rental properties expected to hike in the coming year, the wise might heed the cue.
2. Growing Tourism, thus Strong Economy
As the UAE heads closer to the Dubai Expo 2020, many job seekers, businessmen and enormous businesses are rushing toward Dubai, to cash in the revenue expected from visitors.
In Expo 2020, Dubai alone is expecting over 20 million tourists, which are about 8 million more visitors than now. According to WTTC the tourism sector added about 8.4 % of GDP (117.4 billion dirham) in U.A.E economy. The employment opportunities will rise; about 369,000 job openings are expected by the end of 2024.
3. Free zone Area for Expats and Foreigners
For investing in Dubai free zone area, you don’t need to be a U.A.E citizen or don’t even need a residency visa. Since 1999, Dubai has started allowing expats to buy property in U.A.E. In the real estate sector, you can invest or buy property in a free zone area without having any permit.
Most of the foreigners have invested in commercial properties and residential units in Dubai and have leased the property out. Which gives them a good investment return and whenever they visit to collect their rental revenue they also enjoy the luxury lifestyle of UAE. Moreover, buying properties in UAE worth more than 500,000 AED makes you eligible for residency visa.
4. No need to Pay Taxes!
In UAE, Investing in real estate is completely tax-free. No tax is charged upon you, whether you buy an office space, retail unit or an apartment or residential Villa in UAE.
5. Demand for Housing
Making Investment in real estate in the UAE, especially Dubai, in the coming years could give buyers a fair chance of multiplying their fortunes, as the country is expecting a huge amount of visitors in the future.
As a Real estate marketer the Green House believed that the tourism sector is directly or indirectly connected to ups and downs of the real estate business. Therefore buying furnished apartments on short-term leases, residential or commercial spaces, affordable hotels apartments, shops and retail outlets in close proximity to famous landmarks or recreational parks etc. would remain in high demand and be a safe and great investment.
If you are thinking to invest in the UAE’s real estate sector than the time is now. Contact Greenhouse Real Estate now for further information!