6 benefits of buying property in Dubai

Buying property in Dubai presents a multitude of advantages for investors seeking a secure, tax-efficient, and dynamic market

Published: Wed 9 Aug 2023, 11:13 AM

Updated: Wed 9 Aug 2023, 11:17 AM

By
Shireen Shahnas

File photo

Dubai has established itself as a global real estate hotspot. Moreover, the city's strategic location at the crossroads of East and West, along with its reputation as a vibrant cosmopolitan hub, makes it an ideal destination for both investors and residents alike. As Dubai continues to evolve and flourish, investing in its property market remains a promising proposition with the potential for substantial returns and a high-quality lifestyle.

Here are 6 benefits of buying property in Dubai.

1. Tax-free investment

One of the most attractive benefits of investing in Dubai's real estate market is the tax-free environment. Unlike many other global cities, Dubai does not impose personal income tax, capital gains tax, or property tax. This favourable tax regime makes property acquisition more affordable and increases the return on investment. Investors can reap the full rewards of their property's appreciation without having to worry about tax implications.

2. Stable real estate market

Dubai's real estate market has consistently shown stability and growth. Despite global economic fluctuations, Dubai's property market has remained resilient, attracting investors seeking secure and profitable ventures The city's proactive government initiatives, growing tourism sector, and various mega-events have all contributed to the strength of the real estate market. Buying property in Dubai offers the potential for capital appreciation and a stable rental income.

3. Diverse property options

Dubai's real estate landscape offers a diverse range of property options to suit different investor preferences. Whether you are interested in luxurious villas, upscale apartments, waterfront properties, or commercial spaces, Dubai has it all. Investors can choose from various neighbourhoods and master-planned communities, each with its unique character and amenities. This diversity allows investors to find properties that align with their budget, lifestyle, and investment goals.

4. Foreign ownership rights

In Dubai, foreigners are allowed to purchase freehold properties in designated areas. These properties give them full ownership rights. The government has identified a number of freehold zones and areas where non-UAE nationals can own property outright. This investor-friendly policy has attracted a significant influx of foreign investment, which has boosted the real estate sector.

5. Golden visa relaxation

The UAE government has recently introduced relaxations to the Golden Visa program, granting long-term residency to individuals seeking to live, work, invest, conduct business, or establish their own ventures within the Emirates. Eligible candidates can obtain a golden visa by making an investment of Dh2 million, and the duration of the visa has been extended from 5 to 10 years. This aims to attract more investors and entrepreneurs to the country while providing enhanced opportunities for long-term settlement and economic growth.

6. World-class infrastructure and amenities

Dubai is renowned for its world-class infrastructure and unmatched amenities. From state-of-the-art transportation systems to top-notch healthcare facilities, educational institutions, and leisure attractions, the city offers an exceptional quality of life. Investing in property in Dubai means being part of a thriving, modern metropolis that continually strives to set new benchmarks in urban living. This allure not only attracts property buyers but also ensures a high demand for rental properties from the city's diverse and cosmopolitan population.

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