Dubai is one of the fastest-growing real estate markets in recent times. Therefore, Dubai is considered a stable economy and one of the most attractive propositions for foreign investors, especially real estate.
It is important to remember that land on the earth is limited and probably the most precious asset. There are many reasons why the Dubai real estate market is perfect for investment:
- It is the perfect place to settle down because there are so many family-friendly neighborhoods around. Most places here have got exceptional schools and colleges and international-level universities. Dubai scores well on every count, be it healthcare facilities or recreational opportunities, public transport, roads and infrastructure, cleanliness, or high-security standards.
- Areas like Jumeirah Beach, the Downtown area, Palm Jumeirah, and Dubai Marina are all places that are popular as holiday destinations. When you choose to invest in a holiday home in Dubai, remember that when you do so, you are eligible for a resident visa, provided the property value is Dh1 million or more. Due to the resident visa, you get unlimited entries into the UAE. To top it, there are no government taxes on your property.
- Amazing climate all through the year is another big plus point in your kitty. Except for a few days, there is absolutely no rain throughout the year. The weather is sunny and bright all through. During the holidays, there are enough activities to indulge in, especially the sunny weather.
- If you plan to invest because you need to park your funds securely, then Dubai is just the place to scout for the right properties. For example, if you compare the prices of properties in top cities of the world like London, New York, Singapore, or Hong Kong, the average price in Dubai is substantially and much lower than all these other cities. And the bonus is the absence of property tax in Dubai. And the icing on the cake is that the rental yields are way higher in Dubai compared to many other top cities of the world.
Deciding to invest in Dubai is indeed an intelligent decision.
Property in Dubai
What are types of properties can you buy in Dubai?
- Villas are perfect for bigger families. These are spacious and come with attached garages. Ranging from three bedrooms to up to seven bedrooms, there are enough choices. Plus, there are private gardens and vast living rooms. Villas in Dubai come in three types – detached, independent villas, semi-detached are also exclusive, while shared facilities mean sharing a lot of space with others. Some of the popular villa communities are located in areas like Dubailand, Mirdiff, Jumeirah, Al Barsha, and more.
- Townhouses are not villas, with the former having a common wall between two units, while in the case of villas, these are mostly independent properties. Buyers get a range of bedroom options to pick from. Most of the townhouses
- Apartments – these are quite commonly seen property types in Dubai. There is a range of configurations available – studio apartments up to three and four bedrooms. There are duplex, penthouses, and loft options too. Additionally, there are hotel apartments that come with a myriad of services like room service, housekeeping, etc. The areas that you can look for buying apartments include Downtown Dubai, Business Bay, Dubai Marina, and Jumeirah.
As a foreigner, you can also consider freehold properties for investment. You can choose to rent, sold, reside or pass it on as an inheritance to your people. These are undeveloped patches of the land but remember you need to buy from a government-approved real estate developer.
Apartments in Dubai
There are different types of apartments in Dubai. You can choose from:
- Studio apartments.
- Apartments at beaches and holiday apartments.
- Hotel apartments
- Furnished apartments
- Serviced apartments
The last three apartment types are known as luxury apartments, but the prices are quite affordable. The best places to invest in a holiday home are Jumeirah Beach, Palm Island, and Dubai Marina. Studio apartments are quite reasonably priced and advisable if you wish to stay in Dubai.
With such mind-boggling choices, interested buyers and investors must speak with leading international real estate agents and realtors so that you make the right choices, be it the location, the property type, or the cost ranges.