Luxury Vs Affordable Investment Properties in Dubai
Dubai is one of the best destinations for investment, which is very attractive for foreign investors. Dubai is a developing city that is experiencing tremendous growth in its economic status day by day. Because investing in Dubai is one of the best ways to increase wealth and achieve financial independence, foreigners from different countries are always trying to get investment visas in this city.
Investing in Dubai involves various ways, including company registration, entrepreneurship, property purchase, and stock purchase. Investing in luxury real estate has advantages and features over affordable investment in Dubai.
Real estate investment in Dubai
Investing in Dubai by buying real estate is one of the safer and more profitable ways to invest. As mentioned, the volume of construction has increased dramatically due to the vast amount of space available in Dubai, and this can be used to make high profits. Buying property for foreign investors in Dubai has special advantages, which include:
- Buying property in installments
- Providing exceptional bank loans
- No obligation to pay taxes
- The possibility of pre-purchasing the property
The UAE government has made it very easy and convenient for foreigners, especially the wealthy, to invest in real estate. In addition to buying property and investing, foreign buyers can benefit from other privileges and features such as the possibility of staying in this country.
Luxury real estate investment in Dubai
Dubai has a very high capacity in the field of construction, which creates the best opportunity for development and investors, and day by day, we see the growth and increase of construction and real estate in Dubai so the demand for real estate market in Dubai has increased and investors from all over The world come to this city to work in the field of construction and procurement of property. It is good to know that real estate in Dubai is divided into luxury real estate and affordable real estate. Luxury real estate refers to hotels, commercial complexes, residential complexes, and skyscrapers (towers) and is usually more attractive to millionaire investors.
Due to the increasing demand of property buyers in Dubai, steps have been taken to create first-class residential units and sell luxury properties to the public. This investment method has very high costs and if you can buy these properties, a significant profit is obtained.
According to research by real estate companies in Dubai, investment flexibility in the luxury real estate market is greater than affordable real estate, which is why the luxury real estate market has taken a larger share.
Affordable Property Investments in Dubai
To invest in affordable property in Dubai, you need to do your research to get the best results for you. One of the important things to consider is the location of the property. It is better to check in which area of Dubai you can afford to buy property.
Dubai Free Zones are the best option for foreign buyers as they have affordable costs and investors can acquire 100% ownership of the property. Property prices in Dubai are much lower than in many advanced foreign cities. This feature has made foreign citizens increase their capital by buying property in Dubai.
Benefits of real estate investment in Dubai
Investing in Dubai real estate as an attractive destination has unique advantages and features that have attracted the attention of foreign citizens. Below, as an example, some of the advantages and features of buying property and investing in this area are mentioned:
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Non-payment of tax
One of the prominent benefits for foreign buyers of property in Dubai is the tax exemption. This feature exists in very few countries. Likewise, investors do not need to pay taxes.
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High rental yield
Dubai is one of the few cities that has experienced an increase in population and is constantly growing and developing. For this reason, the property rental market in this city is very prosperous and investors can achieve significant profitability by renting out their properties.
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Geographical location
Dubai is geographically located between the three continents of Asia, Europe, and Africa. However, it can be said that this city is the best center of trade and commerce and has a special geographical location.
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Economic stability
Dubai has a very strong economy that is increasingly strengthened by attracting investors. This feature makes investors use their capital in this way with confidence.
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Property diversity
Buying property in Dubai comes with a very high variety; You can see different types of properties, including commercial properties, residential properties, luxury buildings, apartments, and various complexes. This feature means that investors can buy property according to their budget and financial ability.
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High quality of life
Dubai is known as the “city of dreams” and has many modern facilities. This city has become a suitable option for immigration and living with world-class infrastructure and all kinds of modern amenities. Buying property and investing in Dubai can provide investors with a residence visa. There are various types of residence visa related to buying property in Dubai, which we will explain below:
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6-month residence visa
The 6-month visa is suitable for people who have real estate worth 1 million dirhams. Many foreign citizens want to leave the UAE for various reasons. For this reason, this visa can be suitable for them; Because during 6 months, it is possible to enter the UAE several times.
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3-year residence visa
The 3-year Dubai residence visa is for people whose property value is more than 1 million dirhams. With this visa, you cannot live outside the UAE for 6 months. But by receiving a 3-year visa, you will be able to obtain UAE residence, a driving license, and a birth certificate.
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5-year residence visa
Those who invest more than 5 million dirhams in real estate can apply for this visa. It should be noted that it is not possible to get this visa by obtaining a loan and mortgage, and you must keep your capital for 3 years.
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10-year residence visa
Investors in Dubai whose investment amount is more than 10 million dirhams 40% of which is allocated to real estate can apply for this visa. The conditions of this visa are similar to the 5-year visa, and you must maintain your capital for 3 years. You must also provide documents that show that your capital was not financed through a loan. This visa can be extended and investors can renew it again after the validity of the visa expires and live in the UAE. This visa is only for investment and it is not possible to work with it.
High returns on property investment in Dubai
Due to the increasing population in Dubai, this city is known as one of the best destinations for buying property and investing in the real estate market. Investors can get high returns by renting or even selling their properties. Renting property for foreigners is one of the best ways to earn money in Dubai. According to the laws of the UAE government, foreign investors are not subject to paying taxes in this country. This feature has a great impact on increasing the efficiency and profit of investment in the property.
Important tips for investing and buying property in Dubai
First, it’s a good idea to check your property and financial situation. In Dubai, there is a wide variety of properties and you can buy them at different prices. Therefore, it is better to evaluate your budget and buy a property accordingly. Keep in mind that you should never spend all your money on buying a property. Also, it is important to work with a reputable broker. The broker must have a valid certificate and provide you with the necessary information about the property market and prices.
It is recommended to avoid cooperation with people with independent representation in this field, because you may face serious problems if any legal problems arise. Knowing the condition of the property is very important for international buyers. Some areas are freely accessible and others are restricted and accessible only to certain nationalities. Foreign buyers should be aware of which areas of Dubai they can buy and invest in real estate with high returns according to their nationality.