The property abroad attracts an ever-growing number of capital providers from everywhere. The United Arab Emirates remains one of the leading countries in the sale of housing to expats. Dubai attracts specialists from all over the world. A warm climate, a high quality of life, the possibility of doing business successfully in free economic zones are pushing for a move to permanent residence. Many people buy ready-made housing or Off-Plan Projects in Dubai for Investment. Let’s consider why it is profitable to invest in flats and apartments in Dubai.
Six reasons to invest in the UAE real property
- Great demand for housing stock. Nearly 90% of Dubai’s population are expats. Many people come to the country to work under a contract, study or just relax, so it is easy to find tenants.
- The absence of personal income taxes is another reason to invest in housing stock. It is possible to rent an apartment and make a net profit legally.
- Great choice of properties for any budget. You can invest in a studio, a premium villa or an apartment with several bedrooms.
- Affordable prices. This can be seen if we compare the cost of property in Dubai and other major megacities of the world.
- Convenient leaseback scheme. In this case, the buyer acquires the property from the seller, after which it is rented to the latter. This allows you to make a profit from renting remotely, as the management company is looking for tenants.
- Liquidity. Even if there is a desire to sell an apartment or house in the future, this can be done without much effort and at a higher price.
Rent increase in 2022 as another reason to invest in property
The Dubai property market has shown an increase in rental rates since the end of 2020. In parallel, there is an increase in the value of the property offered for sale. 2021 has shown a change in buyer priorities, and if previously the top requested properties were studio or one-bedroom apartments, now a growing number of investors put in houses and villas. According to the analytical agency ValluStrat, the cost of renting villas has increased by almost 27%. For apartments, this figure reached 14%. Experts believe that this trend will continue in 2022.
Which districts are the most promising for purchase property in Dubai
The housing stock in the central communities of Dubai remains top requested, as well as in districts with access to the coast. They include Dubai Marina, Emar Beachfront, Downtown Dubai, Palm Jumeirah. Income from renting apartments here can reach 7-8% per annum. Specific rates depend on the type of property and the degree of its comfort. Detailed information about the state of the UAE property market can be obtained on the website https://emirates.estate/. The catalog contains the latest offers from developers and local real estate agencies.