Purchasing a property in Dubai can be a one of the best decision you can make in your life. Investing in property in the Emirates will make your wealth grow faster than you may have thought. Here’s how it is a great idea to invest in Dubai properties:
Stable Economic Conditions
Currently, Dubai is ahead of all GCC states in terms of economic diversification. The city has taken steps in minimizing dependence on oil revenues by also focusing on other sectors such as trade, real estate and tourism. Check outhttps://www.91estate.com/projects-in-dubai.php for more.
Job Creation Rate is High
Dubai has been able to attract multinational businesses. A lot of global conglomerates and big companies such as Ericsson, DHL and IBM have started up their branches in its business and financial zones. The increasing number of businesses taking their ground in the city translates to a high job creation rate.
High job creation rate signifies an increase in population and property occupation rate. Thus, your property may be always occupied because of the high demand on renting. Also, it will give high rental yield that varies from 10% to 12% in some areas.
Convenient Residence Permit
Purchasing a Dubai property will grant buyers a residence permit. But, getting a permit requires them to purchase a property that is over AED1 million in worth. Also, the property must be habitable and is free of contingent payments such as mortgages.
Properties are Free of Tax
Unlike other investment hubs in the world, Dubai’s government does not impose property taxes. Thus, purchasing a property here is tax-free. Buyers will just have to pay a registration fee to the Dubai Land Department just once.
Great Capital Appreciation
Properties bought in Dubai will gain value constantly as prices tend to continue to rise. In some areas, property prices can increase up to 10% every year. This means that your investment will enjoy better gains when you purchase it while under construction or on a scheme. Developers in the city display lower prices and special offers when they launch their sales to get the attention of many investors. Therefore, inquiring earlier will leave you finding better property prices.