Why Buying Property in Dubai is a Good Idea?
Dubai is a peaceful country that gives numerous rights to its citizens. Everyone want to live in a peaceful and prosperous place where the value of the property increases over the time. As the economical position of Dubai is strengthening, investors are coming here and trying to evaluate whether or not they should buy property in Dubai.
Benefits of Buying Home in Dubai for Family
Buying property in Dubai is good idea as paying rents every month isn’t easy. After the crash of real estate market in 2008, mortgage properties totally vanished from the scene and it was become very difficult for low salaried people to buy their home on mortgage. However, Dubai real estate market emerged again, now it’s a mature and a prosperous market than ever. Banks support buying property on mortgage if you are earing AED 15, 000 per month. The part of buying property on mortgage is that monthly rent is equal to mortgage payment.
- Dubai offers family-friendly environment and offers all facilities for its community such as parks, shopping centers, schools, and restaurants.
- Everybody wants to raise their kids in a clean place to ensure their better health and Dubai is a place where you don’t find any garbage or dust despite the fact that thousands of people visit tourist destination daily.
- All basic infrastructures are available in Dubai. Schools and hospitals are present in every community. International schools are offering their services in the city while both private and government hospitals are present in city where specialist doctors are available 24/7.
- Unlike many other countries, there is no security issues in Dubai. Crime rate is very low in Dubai. Dubai ranked as 5th most secure city in the list of the most peaceful cities mentioned by The National.
Benefits of Buying Property in Dubai as Holiday Home
Dubai offers entertainment opportunities for every age group and people from all over the world want to buy property there for holidays purpose. There are numerous societies in Dubai suitable for buying property as holiday home such as Palm Jumeirah, Downtown Dubai, and Burj Khlifa.
- You can apply for a residency visa if you buy property in Dubai worth AED 1m. The visa gives you various citizenship rights.
- Unlike the other countries in the world, you don’t have to pay tax to government on the property purchases. So, enjoy tax free property.
- Dubai has many beautiful beaches. Some homes even have their private beaches. Buying holiday property in Dubai means you can enjoy sunny beaches all year round.
- The city is full of entertainment opportunities. There are different clubs, shopping centers, iconic buildings, and fitness centers.
Benefits of Buying Property in Dubai for Investment Purpose
People invest money in real estate to secure their future and give a safe living or business place to their families. Dubai offers a land full of opportunities. The chances of getting high return on investment are much higher in Dubai than any other place. Even if you are not going to settle down in Dubai, you can earn good money by renting out your property.
- Dubai is cheaper than all prosperous capitals. The prices of per square feet land in London, Hong Kong, New York, Singapore is USD 3, 208, USD 2, 119, USD 1, 719, and 1, 417 respectively. On the other hand, you have to pay just merely USD 468 per square feet for Dubai.
- Dubai is the only place in the world where you don’t have to pay tax on property. It’s the benefit to investors for buying property in Dubai as the tax rate in London, Hong Kong, Singapore, and New York is 2.33%, 15%, 13%, and 2%.
- According to Global Property Guide, the annual rental rate Dubai is the highest among all capitals. In Hong Kong, property rate is extremely higher and you have to pay a significant amount in taxes. Rental yield in Dubai, New York, London, and Hong Kong is 5.82%, 3.91%, 3.21%, 2.82% respectively. In some areas of Dubai, the rental yield is up to 10% which indicates the immense benefits of buying property in Dubai.
Is Dubai a good place for investment? The answer is, Yes. All the statistics, reports, and benefits we have mentioned-above confirmed that the place guarantees higher ROI, security, and peace. Probably, there is any other in the world where you find all these perks simultaneously. Real estate experts always recommend to buy freehold property in an established area so you get your expected benefits.