Dubai real estate entails skyscrapers and world-class infrastructure, attracting millions of visitors each year. Every year, tourists flock to Dubai, where they are wowed by the many real estate marvels that serve as tourist attractions. For a variety of reasons, many of these visitors and even locals want to invest in real estate in the country.
Real estate is a long-term investment in which an investor weighs a number of criteria before making a decision. Dubai real estate generated an estimated AED 80 billion in investment in 2019. This astonishing sum demonstrates the investors’ faith in Dubai’s real estate market.
Taxes Free Income:
Taxes are imposed by most governments around the world, whether they are income taxes, business taxes, or other types of taxes. The UAE currently has no income or corporation tax on a company’s profits. This is one of the main reasons why many businessmen want to start a real estate company in Dubai.
Minimal Added Value Added Tax (VAT):
VAT was introduced in the UAE in 2018 at a rate of 5%. This VAT rate is one of the lowest in the world; it is a tax that is paid to the government and placed on the final consumer.
High Living Standards:
Dubai is all about the way of life, and when you have individuals from all over the world working together, a business has an almost overall appeal.
When we discuss safety, we emphasize the following points:
Residents’ and visitors’ safety:
Dubai is a very safe place in which to visit and live. Violent crimes are extremely rare, if not completely absent. To protect the safety of all residents, the city is governed by tight rules and is closely monitored. This draws investors who want to not only invest in real estate, but also live here with their families.
Safety of Business:
The Dubai government is very active and supportive of expat entrepreneurs who want to start businesses in the city. The government has a track record of putting policies in place to assist businesses succeed. This gives an entrepreneur the assurance that he or she will be able to start a firm in a highly stable environment.
Real estate investment security:
When it comes to real estate transactions in Dubai, the Real Estate Regulatory Authority (RERA) and the Dubai Land Department (DLD) have very clear, succinct, and equitable rules. Real estate investment is believed to be extremely safe; the guidelines ensure that the investor is fully aware of the investment he or she is making and is not misinformed.
Commuting in Dubai is a breeze because there are numerous modes of transportation available, including bus, tram, metro, and RTA cab. Many individuals in Dubai choose to take public transit since it is well-organized, safe, and dependable.
Rental Return Is Relatively High:
In Dubai, the rental income for investors is relatively substantial, ranging from 5% to 10% of the purchase price. This is an excellent figure that encourages investors to purchase property and rent it out.
According to records, expatriates account for nearly all of Dubai’s annual growth rate of 6.5 percent, and there’s more to come as the city’s population grows in tandem with Dubai’s development of infrastructure, new transportation modes, more entertainment centres, and new residential and commercial properties to welcome visitors from all over the world.
Dubai has added a property visa option as of 2019. As a result, if you own property and meet the property visa requirements, which are straightforward, an investor can apply for a resident visa based on their real estate investment.
Overall, the Dubai economy is moving and gaining traction, with real estate playing a significant role. Property is in high demand in Dubai, and as a real estate business owner, you may take advantage of the potential to expand in the market.