Top Reasons to Invest in a Home in Dubai
Of the many popular places in the world, Dubai is tagged as an attractive destination for both tourists and investors. It also holds the record of having the tallest buildings and most famous landmarks as well as being one of the safest countries in the world. Having such a reputation simply makes Dubai an ideal place to live in and establish a business. Dubai is also known for its attractive and highly active property sector. Dubai’s real estate market has come a long way since its start in the 90’s and is currently considered as one of the biggest on the regional and even international levels.
Following are essential facts you need to know on why buying a house in Dubai is the perfect investment for you and your family:1. Zero Property TaxThis is truly the best reason why it is an excellent idea to invest and buy a home in Dubai. All you need to do is choose a property and pay its registration fee. There is no tax on property capital gains or rental income in Dubai. This is very beneficial for the total rental yield generated by the property. In short, investors in Dubai will enjoy zero percent annual tax pertaining to properties with big rental values.
1- Dubai as a Host to Expo 2020
From the 20th of October 2020 until the 10th of April, 2021, Dubai will be hosting Expo 2020. More than twenty-five million people are expected to visit and witness this world-famous event. Before the launching of the Expo, the United Arab Emirates’ economy is expected to significantly improve. Thus, now seems to be the right time to purchase an apartment in Dubai before the demand is at its peak and prices go further up.
2- High Rental Yields
Apartments in Dubai are known for generating high rental yields when compared to other global cities and capitals around the world. In Dubai, it is not unusual to expect 6% to 10% as rental income compared to only 2% or 3% in cities like Paris or London.
3- Ongoing Economic Growth
Nowadays, the Middle East is facing an economic crisis. However, the economy in the UAE is resilient and faring well despite the many challenges it has faced in the past including the oil crisis. Today, Dubai has gained its title as an expert in planning strategies and growing its economy in the MENA region.
4- Growing Population
Dubai is home to people of more than two hundred different nationalities, who have come from different countries to study or work in the UAE. Residents in Dubai live, work and invest in order to expand their career paths and start families in the city. The population continues to diversify and grow over time, as the country continues to welcome residents from diverse backgrounds and countries.
5- Low Crime Rate
Buying a home in Dubai is a great idea for you and your family as the country is known to be a safe environment to raise children because of its low crime rate and top notch security. In fact, Dubai has been consistently ranked among the top safest cities in the world by major international publications.
6- Year-Round Tourism
As investments continue to increase in Dubai, tourists visit the country during different periods of the year. Be it, families, businessmen or groups of friends, these people come and seek various activities including Fine-dining, extreme sports, shopping, family activities, museums, etc. This is due to the country’s full support of tourism, businesses, industries and trades. The constant traffic from abroad helps the country develop economically and opens new opportunities for investors.
7- The Best Schools for Your Little Ones
The list of world-class schools in Dubai keeps growing. From British to American schools, Dubai offers all youngsters, coming from diverse backgrounds the chance to join outstanding and excellent education centres. This will give them opportunities to grow and learn in a safe and welcoming environment.
8-Dubai’s Residential Hubs
Dubai is known for its blooming communities – Be it for students, young entrepreneurs or families, the city has got everyone covered. New residential areas are constantly growing as they get ready to welcome their residents from around the world. These communities offer hospitable living spaces, where events and activities help people come together and live up to a healthy community standard.
If you are seeking a luxurious villa for sale, or a studio apartment in a lavish community, Dubai is the destination you are looking for. Apartments for sale in Dubai offer elegantly designed interiors and lavish living experience. The city also offers a unique lifestyle for you to enjoy with friends, colleagues and family, including Yacht trips, fine-dining, luxury shopping and much more.
Dubai is a very hospitable city which welcomes not only young entrepreneurs but also gives families the opportunity to live in a safe and evolving country. As property developers, we offer luxurious apartments all around Dubai, in various family-oriented communities. Learn more about Ellington properties or contact us for more information.