From the world’s tallest tower to a man-made, palm tree-shaped archipelago, Dubai never fails to enchant and amaze. This is true not only for expats looking to live and work in Dubai, but also for a growing number of investors who are becoming increasingly interested in dip their toes in Dubai’s property market.
Here’s why. As one of the fastest-growing cities in the world, Dubai boasts a thriving economy, an unrivalled property portfolio and some of the best returns on property investment.
There are a lot of things that make Dubai’s property market so exciting. Here are some of the reasons why Dubai is the best place to invest right now.
Dubai is famous for its sunshine. Throughout the year, you can enjoy loads of sunshine. In Dubai, there are two distinct seasons: winter and summer. Summer starts around May and winter around October. Throughout the year, it enjoys hot and sunny weather with blue skies.
Expats from around the world have always been drawn to Dubai for its tax-free lifestyle. Dubai is an attractive place to work because it provides the opportunity to grow your wealth without paying taxes. Think about it. How many countries in the world don’t levy any personal tax against your income?
Any list of the world’s most luxurious cities includes Dubai. The city has a reputation for a glitz and glam lifestyle that is unlike anything else in the world. The city isn’t all about lavishness, though. It’s a lifestyle destination that redefines luxury complete with everything you could ask for.
In addition to being one of the best places to live, Dubai is also one of the best places to raise a family due to its safe and secure surroundings. The crime rate is really low, and violent crimes are almost nonexistent. As a matter of fact, Dubai is considered to be one of the safest cities in the world to live in.
Its world-class infrastructure and connectivity have helped Dubai become a major hub not only in the Middle East, but around the world. In Dubai, you’ll find world-class infrastructure and urban planning. And it is also evolving into a smart and sustainable city.
Dubai offers superior property yields than popular cities such as London and New York, with a gross rental yield of between 6-10% and an average return of average 7.5%. The property prices in Dubai are also competitive versus other major international hubs like London, New York, Hong Kong, Paris, and Singapore.
Located in the middle of the United Arab Emirates, Dubai’s position is strategic. Most flights from the UAE last four hours or less to all major business hubs in MENA. A key aviation link, it’s a great way to get anywhere in the world.
Investors choose Dubai because of the economy’s continued growth and stability. As the tourism and commercial hub of the Middle East, it has one of the most diversified economies, attracting a high volume of foreign investment annually. It comes as no surprise that Dubai took the top spot in 2021 for attracting foreign direct investment projects.
Dubai’s real estate market has been rated the most transparent in the Middle East and North Africa. At the moment, the market is at a high point with no signs of slowing down. Through new and revised initiatives and regulations, the government is improving market transparency. Just this year, all real estate data is now publicly available thanks to a new initiative from the Dubai Land Department (DLD).
Over the past few years, Dubai has become one of the world’s most dynamic cities and has attracted investors from all over. These factors create a plethora of opportunities for property investors looking to tap into Dubai’s booming property market.
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