Dubai is one of the highly diverse middle-eastern cities because of ex-pats from different countries and nationalities. Some prefer to rent an apartment instead of buying one to save their money to buy a house in their home country.
But the experience shows that the ex-pats usually stay in Dubai for a long time. So if you buy a house in Dubai as an ex-pat, it can help you save money. Continue reading to learn why buying real estate in one of Dubai developments is a beneficial option.
Why is buying a property in Dubai the right step?
As you might have understood, these years buying a property in Dubai is among the beneficial actions that ex-pats do. Here is a list of reasons that attract more investors to the Dubai real-estate market.
● Dubai great market for buyers
The first option that you have to consider to buy a property in Dubai is the Buying market. According to estimates, Dubai is now a great market for buyers, as the Dubai property prices have fallen due to more new stock being added to the market. It means you can buy a property with the lowest price and wait for it to rise, then sell your property and make a profit.
● Dubai’s high renting costs
Mario Volpi, sales manager of Engel & Völkers Dubai states that if you want to live in Dubai for more than seven years, buying is usually more sensible because the costs and fees for rent are extremely high. But if you want to stay for a shorter period, renting would be a better option.
● Higher profit from high rents
If you do not want to live in Dubai, you can buy a property in Dubai and take advantage of the high rents. The estimated profit of residential property investment in Dubai is about 9.9 percent, while the profit of similar properties in Hong Kong, London, and Singapore is about half of this percent.
● New visa rules
Based on the new visa rules of the UAE’s government, ex-pats over 55 will receive five-year retirement if they own property worth at least Dh2 million or have Dh1 million in savings or an active income of nearly Dh20,000 a month. Also, the UAE allows doctors and engineers access to long-term visas.
All these new decisions will increase the demand for investing in Dubai, which will affect the prices and rents in the long term.
If you want to buy a property in Dubai, do not miss any opportunity as this is the best time to do it. You can read the above text and understand why it is the best time to buy a property or an apartment for sale in Dubai. Here, in dxboffplan, we are ready to find the best property and villas for sale in Dubai based on your preferences and interests. Ask all your questions online from our professional team 24/7 for free.