Dubai Real Estate: What’s it like?

The ever-growing population, and foreigners relocating to this global trading hub to expand their careers, make real estate in Dubai, a haven hard to miss! After the issuance of the long-awaited foreign property ownership, that allowed non-UAE citizens to own a property in Dubai.

With that, there’s a rise in construction too, from off-plan projects to ready properties, the list is endless. The city, since then has witnessed a massive boom in the construction of exceptional projects. This has led to a strong attraction from overseas investors to Dubai's property market. With all of that in the picture, here’s what you need to know about Dubai’s real estate. Let’s understand the key reasons to invest, and why!

Reasons to Invest in Dubai Real Estate

The city has built a strong reputation for being dynamic and forward-thinking. If you are looking for a place to live or invest, Dubai real estate is a great option to consider. Let us find out what you can invest in!

A Hot Spot for All

Whether you wish to live in the city, near the beach, or amidst the desert calmness, you have an array of options to pick from. The location also remains to be an ideal factor that influences the ROI. Homes in the city bring more ROI since it’s at a prime address. With that, there is another consideration too, that impacts ROI on Dubai investment. It includes transport to school, quality of life, interest rate, market condition, and other costs.

Ideal Taxing Conditions

The real estate sector gets benefitted from Dubai’s taxation system. The city is renowned for its low tax rate, also applicable to properties you’re invested in. The investors here gain high profits without having to worry about property tax or stamp duties.

Steady Income

When you invest in Dubai, you can expect a steady return on investment. Be it any kind of property, a studio to a villa or a townhouse, the returns are lucrative. The rental market in the city is exceptionally robust, making you the chance to earn a steady income, very high.

Safe and Desirable

Dubai has always remained to be a home for people from around the globe. Currently, it is home to 200 nationalities. And, Immigrants, ex-pats, and workers make up 80% of the population. It truly becomes a melting pot, soaking the culture and tradition of different nationalities very well. Investing in Dubai will always be a safe call, as it is the most tolerable city in the world. There are several happy communities, and people globally consider it to be a safe place to grow business.

Investor Visas

One of the key advantages of attracting foreign investors is the multiple kinds of investor visas offered! One of the most highlighted ones is the Golden Visa, which offers investors a long stay as a resident! The long-term residency option is something unmissable, which is garnering attention from around the globe.

There's a 10-year residency visa offered to nationals under the Golden visa category. It is for investors, entrepreneurs, and even talented individuals that are eligible for the same. The golden visa owners will enjoy full 100% ownership of their businesses too!

Dubai Real Estate: Key Important Terms

1. Real Estate is highly regulated

Dubai's real estate is governed and secured by a set of rules, laws, and regulations. This is to safeguard the interest of investors. The Dubai Land Department takes the sole responsibility to handle all the matters related to the purchase and sale of land. Plus, they carry documentation, approval, and other legal procedures regarding the land in real estate.

Dubai Land Department, DLD takes care of land and title registration, licensing, the regulatory framework for attracting investment, and knowledge of applicable legislation. Furthermore, investors can gain fruitful information on real estate sales and purchases, through the official website of DLD.

2. RERA

RERA (Real Estate Registration Agency) came into the picture in 2007, to set a legal framework and mechanism to regulate all activities of real estate. It also aims to offer an investor-friendly environment that invites more international investors.

That also helps safeguard the interest of all stakeholders and put them in a prominent position. RERA keeps a check on each project's financial and technical levels. RERA plays a supreme role to monitor developers, brokers, and other licensed real estate professionals’ legitimacy.

3. Property investment management and promotion center

This is said to act as an investment arm for DLD. The center takes a keen interest to support both local and foreign investment companies, by also developing a safe regulatory environment for property investments. Along with that, they play an active role to enhance marketing activities, and promoting long-term investment, while achieving a sustainable economy!

4. Attractive rental yields

Buying or renting is a highly lucrative investment deal in Dubai. The rental has to be the most popular choice amongst foreign buyers, who're interested to make a steady source of income. The attractively priced properties, superior payment plans, and other conveniences make buying a property very seamless. Plus, investors who're more focused on buying-to-let can expect an ROI of 5% – 6% for ready properties.

In this city, there always is a high demand for short-term rentals, due to huge tourist gatherings. Tourists are always looking for a luxurious place to live, from villas to hotel apartments, townhouses, and more. There is always a demand for short-term rentals that brings great revenue!

Popular Areas for Investment in Dubai Real Estate

Downtown Dubai

Downtown Dubai, the heart of Dubai, is a dynamic, quick-paced, and incredibly adaptable location. It is a tourist hub, home to the most mesmerizing landmarks like Burj Khalifa, Dubai Mall, a dancing fountain, and the opera as well.

The best entertainment, shopping, and lavish lifestyle are all available right within the community. It is filled with eateries, boutiques, and quaint boulevards and serves as a haven for people who want to live in style.

Dubai Marina

Dubai Marina is the most sought-after address for people who love beach and city life together! Beautiful skyscrapers, waterfront properties, and fancy dining spots can be found throughout the area. The community also hosts the largest marina in the world. It is a brilliant development by Emaar that presents homeowners here, with a commendable selection of amenities to fulfill their everyday needs!

Your modern home can be found at this address, which is excellent for families, couples, and singles alike. Additionally, it is favored by investors along with residents due to its excellent rental yields. It is truly a lakeside retreat amid an endless city.

Arabian Ranches

The Ranches, also referred to as Arabian Ranches, was one of Dubai's first suburban freehold communities. It is a premier golfing neighborhood that is enhanced by green golfing fairways and landscaped areas. Families, especially children, can benefit greatly from this secure and safer space!

The town has a ton of recreational and leisure opportunities available all year long. People are drawn to it, due to its serenity and tranquillity, especially those who value their privacy. Additionally, you won't ever be bothered by the noise of honking or otherwise active city life chaos.

Business Bay

One of the most fashionable, glitzy, and fascinating neighborhoods to reside in is considered to be Business Bay. The Dubai Mall, Souk Al Bahar, and the captivating Burj Khalifa view have made this neighborhood a trendsetter for an opulent way of life.

High-profile individuals to live. Business Bay is indeed evolving into a glamorous destination, particularly appealing to live in a very exciting way! This area is turning out to be a business hub, filled with offices, shopping malls, and beautiful gardens surrounding residential towers, it is quickly emerging as the new business center for the area.

Palm Jumeirah

If wish to live in a new way, with dining on the beach, swimming around the fish, or sipping cocktails in the summer heat! Palm Jumeirah is the ideal place, for an extravagant life, never experienced before. It is home to swanky apartments, complexes, villas, and many more, with multiple choices. When you step into the Palm, you'll feel like stepping into a new world, away from the bustling city life.

Wrapping Up!

There has never been a better time to invest in Dubai's real estate! The property world is always growing and getting better! Anytime you decide of investing in a property, you're defined to get high returns from it! Dubai is escalating in all ways. Be it real estate, jobs, architecture, tourism, education, and so on. It tends to cater to all areas, and give people calling it their home, the best address to live peacefully!