Today, Dubai is one of the most popular investment destinations in the world that offer many amazing properties and property developments for locals and foreign investors. Many investors choose this place to make a convenient and connected lifestyle because of the perfect architectural wonders and its prime location. But other factors attract a huge population of people to buy or rent property in Dubai. So if you want to start investing in real estate, read the following benefits of buying property in Dubai to get a better idea of this subject.
Why is the Dubai Property Market a Good Place for Investment?
Here, you can read about the top five reasons that cause many people to invest in the Dubai property market.
● Economic Stability
If you want to make a property investment, one of the most important factors that you have to consider is the country’s economy. While new investors like to invest in merely low-priced properties to get a run for their money, the reality is that when you invest in any property, the result is dependent on the country’s economy. During the years, the UAE provided a strong economy in the whole MENA region. While it went through different economic hurdles, it has remained stable and robust. As you might know, Abu Dhabi has suffered the blow of the oil crisis, while Dubai showed a resilient economy while enduring challenges. So one of the main reasons that cause you to make a profitable investment in Dubai is that this place is one of the fastest-growing economies in the world.
● Advanced Technology & Innovation
Today living in a modern and smart city is a privilege that every investor looks for. This is exactly what you can find in Dubai with the utmost convenience. There you can access different facilities like an enhanced public transportation system, developed facilities, and interesting entertainment goals. So many people choose to buy a property in Dubai to enjoy the best and finest amenities with the best global standards. For example, you can go to your workplace using smart transportation networks or enjoy your night at leisure destinations developed in the city year after year.
● Security & Safety
It might be interesting to know that you will not hear anything about crime in the emirate, which provides this place as one of the best places to buy property. The ideal property investment will not happen if you do not choose a safe community where your children can play freely and or sleep soundly at night without any worry. While other countries have been trying to resolve their increasing crime rates, Dubai is a great place to invest as it is one of the most secure and safe countries. They use the latest gadgets to bust any criminal and provide strict and stern policies against crime. The robbery cases are almost zero, and petty road fights mostly resolve peacefully.
● UAE Residency
The biggest benefit of investing in Dubai properties is that you will become eligible to get a residence visa in the UAE. Just you have to be careful to buy a property from AED 1 million worth, no mortgage or financial assistance, and the property must be conducive for occupancy. It means the benefit of residency in the UAE will not just be as a foreign investor, and you can ask the Dubai Land Department (DLD) for an investor visa.
● Low Costs
Real estate properties in Dubai are one of the cheapest in the world. Compared to acquisition costs in other countries, the emirate will give you value for money. The average price per square foot in Dubai is a lot lower compared to properties in Europe or the USA.
Plots in Dubai for example have rates that range from AED 60 to AED 100 per square foot in secondary locations like Dubai Sports City or Dubai Silicon Oasis. For prime locations like Downtown Dubai and Dubai Marina, it can cost from AED 250 to AED 350. These rates, however, are still relatively cheaper compared to properties in prime locations in other countries.
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