What Are the Advantages of Buying a Property in Dubai?
As you might know, people from all countries and continents are flocking to Dubai for its unique experiences, exotic lifestyles and also investment purposes. The real estate market of Dubai is what attracts many investors to this amazing city. This is simply because owning a house in Dubai comes with tons of profit, benefits, possibilities and potential. In this article, you can read about advantages of buying a property in Dubai. After that, you will find out if owning a home in Dubai is a good decision or not. So, do not miss the rest of the text…
Buying property in Dubai and residency:
One of the biggest advantages of investing in the real estate market of Dubai is its GOLDEN residency. You might get thrilled to hear that Dubai has considered this amazing benefit for those who purchase properties for AED 2 million and beyond. More importantly, you will be eligible for the golden residency even if you buy the house on installments. This type of residency is a 10-year one!
The other type of residency is a 3-year one. To get this type of residency, you are required to buy a home which costs at least AED 750,000. You need to pay 50% of the property price by cash, and then apply for residency.
Benefit of Buying a property in Dubai with NO tax:
Another amazing benefit of investing in Dubai is that there’s no amount of tax for real estate investors. Yes, by investing in a tax-free real estate market you can make sure of adding value to your life. High amount of saving is also guaranteed. However, the incredible benefits of investing in Dubai are a lot more that you should know about…
High capital appreciation of properties in Dubai:
When it comes to investing in real estate, the first thing that comes to mind is capital appreciation of the considered property. This is one of the most important factors in investment that can determine whether the property is worth investing in or not. You should know that properties of Dubai experience at least 6% increase in the price each year. But as Dubai is always under construction, and new communities are being developed in a fast pace, this amount is more for some properties. Yes, Dubai is a place that guarantees additional value for the property investors.
High ROI of properties in Dubai:
Return on investment is also another factor to evaluate the value of the property that you want to invest in. The properties in the real estate market of Dubai offer an ROI of 8-10 percent per year. It means that you can sit back and enjoy 8-10 percent of your property price coming into your bank about every year. In fact, this is an amount of money that comes from the rental income. Now, imagine that you have bought a 1 million Dirham house in Dubai. You can expect at least AED 80,000 rental income each year. This amount will be around USD 22,000 per year, and that’s amazing!
Continuous rise in prices:
the property prices in Dubai are getting higher year by year. So, the sooner you own a property, the more profit you can earn. No matter you buy an off-plan property in Dubai or a ready one, when you decide to resell it, you can be sure that the property price is higher than what you bought.
100% property ownership:
In Dubai, you have the chance to fully own the property you purchase even if you are a foreign national. In the past, owning a house in Dubai was not possible for foreigners. But today, anyone has the chance to benefit from this wonderful market and its advantages!
100% company ownership:
After buying your property and residing in the UAE, you also have the chance to start your own business. You will have the right to fully own your business. In the past, you needed to share your company with a UAE national!
Advantages of Buying a Property in Dubai on mortgage or installment:
Another reason making Dubai real estate market more appealing is that you can get a loan from UAE banks. This is an incredible chance for you to own your desired home in a more affordable way. To be more precise, this allows you to own a house for just half of the price. The other half will be paid by the bank. However, the real estate developers offer flexible installments for their properties as well. This makes buying a home much easier for you.
In this article, you read about advantages of buying a property in Dubai. Now, it is clear that owning a home in this Middle Eastern city brings you much more value than the property price you pay. So, investing in the real estate market of Dubai is an opportunity that should not be missed at all. If you are also among those people who wish to enjoy these benefits, the expert team of United Seven Real Estate are here to help. You can easily send us a message on WhatsApp and get 100% complimentary advice on buying real estate in Dubai!