Insight
The real estate market is surging in the UAE and is set to continue growing rapidly. Recently, Dubai has emerged as one of the top real estate hubs in the world. Investors are flocking from across the globe to buy a stake in different real estate properties.
Dubai’s market has recovered post-pandemic. Dubai’s real estate market has witnessed an increase in properties sold as many buyers invest using cash transactions. The first half alone, there has been an 85% increase in the value of properties sold.
During the first part of the year, 37,762 units were sold, marking a record with market transactions close to 89 billion dirhams ($24.23 billion). The market is expected to grow further by the end of the year, between 5-7%.
Attractive elements of real estate in Dubai
With its warm climate and pristine beaches, Dubai is a dream destination for many investors looking for a place of luxury and relaxation. Dubai also attracts investors because it’s an ideal location to establish a business base due to its strategic location and access to global markets. Dubai offers a variety of tax-free investment opportunities in prime locations including ready to move or new construction options.
Golden visas for real estate investors
UAE’s golden visa system offers long-term residency for individuals. On October 3, 2022, new eligibility rules for the golden visa came into effect for property investors buying property worth at least 2 million AED. Investors are also eligible if they purchase the property on loan from a bank or invest in an off-plan property directly from the developer.
Benefits of buying property in the UAE
Buying property in the UAE is attractive to people across the globe for multiple reasons, including:
Tax-free
There’s no collection of annual property taxes, income gain taxes and no inheritance tax for property owners in the UAE.
Location
The UAE’s central location makes it accessible to international investors worldwide. With direct airport links from almost anywhere in the world, investors from around the globe can access the UAE.
Unmatched value
Compared to other top global real estate cities, Dubai’s real estate market offers unmatched value in top locations across the city.
Open market
The UAE’s real estate market is open and accessible to anyone in the world. With its streamlined process, buying property is secure and simple and can be completed both inside or outside the UAE.
Dubai the best city to work and live
Dubai is home to over 200 nationalities, making it the top choice to live and work for many. With such a diverse group of people, it attracts top talent across multiple sectors.
Dubai is also one of the safest cities in the world thanks to its top-notch law enforcement officers and established laws. Residents have access to incredible educational opportunities, outstanding medical facilities and unmatched infrastructure.
Many elements make the UAE the ultimate location for property investors. With an unbeatable economy and access to countless property investment opportunities, the UAE is a premier location for investors worldwide.