Thursday, December 21, 2017
Dubai is undoubtedly one of the fastest growing cities in the world. With spectacular water views and majestic skyscrapers, Dubai is full of charms. Also, Dubai has the iconic Burj Khalifa that is the world’s tallest tower. Most of you might be interested in buying a property here. When it comes to the benefits of buying properties, Dubai is nearly unbeatable. Dubai shows a high versatility as it comprises of both apartments and villas, offering a great investment potential.
It is vital for you to understand the Dubai Property Market before buying a property. Here are the top benefits of buying property in Dubai:
Dubai is world famous for its flawless and splendid infrastructure. After all, Dubai is a world-class business hub. As introduced by Dubai government, the free zones in Dubai serve as hubs for businesses in areas like Jebel Ali and Media City to attract global entrepreneurs and aspiring businessmen.
The property prices in Dubai have stabilized. Not only that, the market has matured considerably. Dubai offers delightful options when it comes to investing in Dubai’s real estate market and enjoying the subsequent benefits. It offers both residential properties and commercial properties. When it comes to residential property, you can either go for an apartment or a villa. If you want to invest in a commercial real estate in Dubai, you have options varying from offices, labor camps to industrial properties. Moreover, there is no property tax in Dubai, with income being tax-free as well. This implies that once you have bought the property or paid the registration fee to Dubai Land Department, there is no other government tax to be paid against your property. Dubai also has a low Acquisition Cost.
Dubai has a pleasant sunny lifestyle almost throughout the year. During summers, the heat is scorching but for the rest of the months, temperatures are mostly soothing.
The lifestyle in Dubai is more than splendid. Dubai is the place where you can fulfill your dreams of buying a Porsche or dining at the world’s tallest tower. Dubai is not only known for the malls and skyscrapers. It is widely known and regarded for its diving, skiing, snowboarding, biking, golfing, fishing, sailing, windsurfing, desert activities and water sports. Dubai has all the possible activities to keep you entertained all through the year.
Dubai is perhaps the safest place on earth! It has a strict policy of deportation of criminals. Thus, the residents can enjoy a kind of security that is not found elsewhere. This is one of the major reasons why people find it reliable to come here in Dubai and start their lives afresh. The irony lies in the fact that many countries in the middle-east region have gone through and still going through a high level of political disturbance. No doubt Dubai is the most stable city in MENA region.
It takes less than 5-6 hours to fly to Dubai from most of the world’s destinations. Thus, the convenient commutation is a major factor for many to buy properties here.
Dubai has relatively higher property rental yields as compared to many other countries. All you need to do is choose the right agent and pick the right Dubai property. In that way, home ownership can be pretty productive. Moreover, as per the recent data, Dubai is the most 'affordable' city to purchase a home when compared to other prominent international hubs like London, New York, Hong Kong, Paris, and Singapore.
Dubai is known for its highly transparent real estate market in the MENA region. The government believes that enhancing transparency is essential in heightening the levels of foreign investment. Dubai has an exclusive ‘Open Data Law’ that is concerned with the promoting of the sharing of non-confidential data between government and non-government entities. As implemented by the Real Estate Regulatory Agency, several new measures are making the Dubai property market well-regulated and in sync with the major international destinations.
Investing your money in real estate, especially in an overseas property clearly implies that you are investing in that country’s economy. Economic growth of a specific region is a major factor that you need to take into account while buying property in that region. If the graph of economic growth has gone up in recent years, there are high chances that investing your money that shall be beneficial for you in true terms.
The unwavering consistency in the growth of the economy in Dubai is one of the biggest benefits of buying property here. Being rich in oil, Middle Eastern countries and the capital of UAE, Abu Dhabi’s economy has suffered quite a bit due to the recent oil crises. But, Dubai has proved to be a true winner by flourishing even after such drastic times, all thanks to its planning and economic growth in MENA region.
It is anticipated that by the second decade of this century, Dubai shall have to depend only a little on the oil revenue. This is reinforced by the fact that today revenue generated from oil is only approximately 5 percent of Dubai’s economy.
Dubai welcomes the development of all kinds and provides to support it. It welcomes new innovative ideas that are launched very often. Dubai has almost won the tag of being “the smartest city in the world”.
Moreover, reputed developers are back in business. All of the big developers such as Emaar, Akoya by Damac and Onyx by Ishraqah have secured mortgage lending for their off-plan projects. The banks mostly recognize a reputed developer. This also ensures that your money is saved from dishonest or fraud developers.
No doubt Dubai is the most developed, stable and modern Emirate of the seven. With exquisite features like tax-free living, safety for women, cheap and available houses and many more, Dubai is the ideal place to invest in real estate.