This is true not only for expats looking to live and work in Dubai but also for many investors who are increasingly curious to immerse their toes in Dubai's property market.
Here's why. As one of the fastest-growing cities in the world, Dubai boasts a booming economy, an unrivaled property portfolio, and some of the best returns on property investment.Download Brochure
High standard of living
Any checklist of the world's most extravagant cities comprises Dubai. The city has prominence for its glitz and glam lifestyle.
The city isn't all about abundance, though. It's a lifestyle destination that redefines opulence, concluding with everything you could ask for.
In addition to being one of the best sites to live, Dubai is also one of the best places to raise a family due to its secure and protected surroundings. The crime rate is meager, and violent crimes are almost absent. As a matter of fact, Dubai is considered to be one of the safest cities in the world to live in.
In Dubai, you'll find world-class infrastructure and urban planning. Its world-class infrastructure and connectivity have aided Dubai in becoming a central hub in the Middle East and worldwide.
And it is also unwinding into an innovative and sustainable city.
Competitive prices and rental yields
Dubai offers exceptional property yields than famous cities such as London and New York, with a gross rental profit of 6-10% and an average return of 7.5%.
Dubai's property prices are also competitive compared to other major international epicenters like London, New York, Hong Kong, Paris, and Singapore.
Economic evolution and stability
Investors choose Dubai because of the economy's constant development and stability. As the tourism and commercial hub of the Middle East, it has one of the most diversified economies, enticing a high volume of foreign investment yearly.
It is no wonder Dubai took the top spot in 2021 for attracting foreign direct investment projects.
Dubai's real estate market has been rated the most transparent in the Middle East and North Africa.
The government is improving market transparency through new and revised initiatives and statutes.
Presently, the market is at a high point with no indications of slowing down.
Favorable Taxing Conditions
Dubai has long been a hub for real estate investment due to its favorable tax conditions. The city boasts one of the most attractive tax regimes in the world, with no personal income tax and low corporate tax rates. This means that investors can keep more of their profits, making real estate investment in Dubai a particularly lucrative opportunity.
Higher Annual Rental Yields
Studies conducted by real-estate investment consulting firm Global Property Guide also reveal an average yearly return on Dubai properties is 5.19%.
This is significantly higher compared to annual rental yields in New York (2.9%), London (2.7%), Singapore (2.5%), and Hong Kong (2.4%).
With a rise in the real estate value post-Covid era, Dubai's property market has much higher possibilities of even better returns.
To make its real-estate sector attractive to global investors, the UAE government has rolled out new visa laws linked to property investment, offering a quick path to residency (subject to certain conditions).