10 Reasons For Investment In Dubai
Dubai has always been a huge attraction for the investors and tourists. The “Tallest Buildings Ever” record holder & being the safest country, Dubai earned a huge reputation. The biggest reason for the larger real estate status of Dubai is the residency & investment of several million foreigners, who shifted & invested in Dubai from overseas. Dubai Land Department shared astonishing facts of 2017. 69,069 real estate transactions of a value of more than Dh 285 billion ( $77.6 billion ).
Overseas Investors
More than 65% of these investments were by investors from overseas. The land transaction value of Investment in Dubai came out to be Dh285 billion which is greater than the GDP of 144 countries. 9790 Gulf Nationals were involved in 14,381 transactions of more than Dh 37 billion & 30,000 property transactions of worth Dh 56 billion were concluded by 23,000 non-Arabs & non GCC foreigners. About 7,000 non-GCC Arab investors closed 8,644 real estate transactions of more than Dh14 billion.
In the list of foreigner investors, India topped the list by property transactions of Dh 15.6 billion. Saudi Arabians, British & Pakistanis have transactions of Dh 7 billion, Dh 6 Billion & Dh 5 billion respectively. In 2018, the international overnight visitor spending jumped from $16.0 million to $28.5 billion. In the Midscale & Economy Sector, occupancy increased from 78% to 82%. About 80.4 million passengers were entertained by Dubai International Airport from January to November 2017 which is about a 5.8% increase. The reasons are large in number, we can’t mention all but we have extracted the top 10 reasons, why a person should invest in Dubai.
1. Expo 2020 Dubai
Dubai is going to host the next Expo 2020 from October 20, 2020, to April 10, 2021. Over 25 million visitors would be attracted from 180 nations giving a boost of USD 34.5 Billion to UAE Economy. The investors buying property near Expo 2020 would receive a high return on investment, plus rental demands would be increased causing an increase in rents of the property. Millions of people would rent their properties. So, it is the right time to buy property in Dubai.
2. No Property tax
Yesss, this is indeed the best reason to investment in Dubai because there is “No Property Tax in Dubai”. Just buy the property, pay a registration fee & then the government would not charge you for more fee. It has a great benefit for the overall rental yield generated by the property. Buying a property in Hong Kong will charge a 15 % annual tax on your property, Singapore 13%, London will charge 2.33% while New York 2.2%. In Dubai, investors are going to enjoy a 0% annual tax on their properties with huge rental values.
3.Rapid Development & Advancement
Before buying a property everyone sees the development & advancement of the region. Dubai is so advance in development & new innovations are clearly visible which is highly noted before buying a property anywhere
4. Growing Economy
Dubai’s economy is touching skies now even when the UAE suffered many oil crises in the past. It managed to get back on track. In the MENA region, Dubai is pro in planning & increasing the economy.
5. Low Crime Rate
Dubai has a low crime rate factor too which makes it a highly demanding & secured reason for the people to invest in Dubai. Even the forgotten wallet or mobile phone would be recovered easily. The safety in Dubai urges people to settle here down or start investing here because a safe environment feels like home.
6. Growing population in Dubai
Property projects are likely to increase because of growth in the population of Dubai. Dubai is the one country where people from 200 different countries are living in case of investing, working & as the residents. The increasing population estimation shows the population in Dubai would reach 5.2 million by 2030 so a large population means the beginning of more property projects & more benefits.
7. Little Acquisition Price
The average price per sq. ft. in Dubai is just USD 468 while in London the same property would cost massively USD 3,208.
8. Good Rental Yields
Dubai has huge rental yields as compared to many other countries & capitals of the world. Dubai offers 10% rental yield on average while New York only 3.91%, Hong Kong will give just 2.82%, In London, it is 3.21% & Singapore gives only 2.83% so the choice is all yours
9. Tourism
Dubai supports tourism, trade, business services & other industries which lead to the construction of new hotels & real estate projects. In this way, investment in Dubai & pricing keeps on increasing.
10. 10-year investor visa For Investment In Dubai
At the beginning of this year, it was declared that investors & residents of particular professions would be given a 10-year residency visa. This step encourages more people to shift in Dubai & this will have a great impact on the economy.
All these positive points urge people to invest & settle down in a better place called Dubai. The good policies, safe environment & full-time entertainment opportunities along with good rental yields & profits attract people to invest here. So when you’re going to buy a property in Dubai? Here are the best options to invest in Dubai.
