Is Dubai a Good Place for Investing Money in Property? What are the benefits of investing in Dubai properties? If these are the questions bothering you and withholding you from making decisions, here are some stats and points to convince you.
According to the recent study, UAE ranks the second-best place to invest in property in the world. With Philippines topping the list, UAE has been considered the second place for investors.
There are certain parameters in which a location suitable for property investment can be measured. The economic and job growth, population growth, and affordability. Dubai fulfills all these criteria and it is no surprise that it has been the heart of property investment over the years.
Moreover, if you are seeking to invest in a tax-friendly country, make UAE your number one choice. The country offers higher rent coupled with its low rental income tax rates. Hence, a higher return on investment. Read on to know more about why property investment in Dubai is skyrocketing and the awesome benefits it offers to investors.
Investing money in Dubai: what are the benefits of investing money in property
Whether you are a local investor or a foreign one, there are a lot of reasons why you should invest in Dubai. Let us explore the benefits.
Investment in Dubai: local or home investors
Fulfillment of having your own home
Either it is to grow wealth and amass a fortune for the future generation or the pressure of fulfilling your dream house, the fact is everyone desires a property. Apart from the exorbitant rental payment, no one desires to stay in a rental apartment forever. Moreover, investing in property brings your dream to reality. Nothing brings fulfillment and joy than having a house to call your home. The good news is, Dubai is safe, clean and it has the basic infrastructures, you have no problem making a home here.
Avoid payment of Higher rents
Instead of divulging a good amount of cash on rents, why not consider buying your own property and earn zero worries on rental payments. There is always property for every income bracket in Dubai. With lower sales prices and perfect payment plans made available, you will always be at an advantage. Moreover, mortgage plans and housing projects have been on the rise over the years. A salaried person earning between DH 10,000 and above in a month have access to mortgage and can easily secure a property. More than most rental charges I must say.
Make extra income:
Property is one of the most valuable and popular investments in the whole world. Investing in property is a good way to earn passive income and grow wealth in time. Not only does it have fewer risks, but it also generates higher-yielding income. If you considering building wealth or reaching financial goals, property investment in Dubai is the way to go.
Investments in Dubai: Expats
Some expats prefer to make money in Dubai and invest in their home country. However, investing in property in Dubai especially for expats staying in the country for long years make financial sense in the long run.
Purchasing of property makes perfect sense than rent
Renting an apartment might be a good option for those who are not going to be staying in Dubai for long. However, if you are planning to stay for more than 7 years, investing in property is far better. It is the buyer’s market and it is better to join the club of investors when the prices are cheap
Not only that, if you later have to move to your home country or another country, you have the advantage of passive income while you are away from the country. As the house owner, you are getting paid for what you own and this will provide you steady income through rent payment.
Get residence visa
The updated UAE visa rules aim to boost property investments, promote the economy and long term investment. This includes allowing foreigners over 55 having a property worth at least Dh2 million or Dh1 million as savings access to a five-year retirement visa. Workers having at least Dh1 million property value can also qualify for UAE resident permit.
No tax benefit
For foreign investors who only want to come to Dubai for vacays but still do not want to let out their property for rent, your home is always available to welcome you. What makes Dubai the best choice is you aren’t compelled to rent out the property due to tax payment as a property owner. Dubai doesn’t require payment of tax on that property.
Investment in Dubai: international investors
If you are a real estate investor, seeking to go international, Dubai is the right choice and you can never go wrong with the help of a reputable broker. Dubai is growing from strength to strength when it comes to investing in real estate. In 2017 alone, the country reached 69,000 in real estate transactions. The total turnover exceeds AED 285 billion($77.6bn) according to the study made by Dubai Land Department.
Dubai offers a wide array of real estate investment opportunities ranging from residential properties to commercial properties. Residential property investment has won the heart of investors all over the world and it has been the most popular choice. Moreover, commercial properties are also not left behind. With tourism being the largest contributor to the economy, real estate investments in Dubai has experienced tremendous growth.
Investment in the hotel has grown in leaps and bounds. Investors purchase hotel rooms and generate steady income on it through renting of the rooms. However, there are other benefits you get if you buy a property in Dubai as an international investor.
If you are an investor that is keeping abreast of trends, you must have heard the country has been experiencing a fall in its residential prices. Well, there is always a bright side to a situation. This means the emirate is a buyer-friendly market for a while and this won’t stop anytime soon.. There is no better time to take advantage of the trend and buy property in Dubai than now.
No property tax payment
One of the main reasons why Dubai is very attractive to foreign investors is the fact that they don’t have to pay tax on their property. There is hardly any country you will invest and you won’t have to pay tax. Dubai however, is an exception. Remarkably the $0 tax is also extended to all rental income as well. Which another placer to build a safe nest in your portfolio than Dubai.
UAE will always be the favs of the investors due to the high return. Not only is the country tax-haven but it also promises high yields in return. As mentioned earlier, this is the second-best country with high returns in terms of rental yields. Presently, investors are benefiting from the best return of 7% and in top areas, the return is over 10 %. This surpasses other countries like London which yields 3.7%, Hong Kong 2.82 %, Singapore 2.83% and the host of others. Here is a country to amass your wealth without having them go to the government.
Dubai Marina is one of the best places to invest in Dubai and it as ranked the most searched area for the property. There are other top areas that promise awesome yield for investors. They include Downtown Dubai, International Cty, Palm Jumeirah, Jumeirah Village Circle (JVC), Dubailand and so much more.
The best way to get a good area is to work with a reputable broker who knows the nook and crannies of the country. Not only that, someone with a vast knowledge of real estate investments in Dubai that can help you have a hassle-free transaction. REMDubai.com meet up to the standard, make this company your number choice.