Dubai is a land of dreams for many people across the world. The city has everything to offer that gives its residents a luxurious and enjoyable lifestyle.
During the last few years, investments in properties have escalated to unprecedented levels, and many foreigners also have purchased properties in the city as they made Dubai their home.
If you are curious to know why Dubai has become an investment hotspot, then the following are the reasons:
Get the UAE’s Passport
An investment in a property in the UAE will get you a passport of the country. One of the UAE government’s recent initiatives is issuing passports of the country to property investors and talented people.
Dubai has eventually lost its tag as an expensive city. It has now become cheaper than many cities in the world. As such, you can get an affordable yet luxurious lifestyle in the city. And when it comes to owning a property, you can get many cheap properties for sale in Dubai. Meaning you can easily afford a property in the city. And properties come at around AED 400,000 or even less.
Economic growth is one of the critical considerations in property purchasing decisions in foreign lands. And the good news is that Dubai’s economy has exhibited impressive growth during the last few years. All the available forecasts show that the economy will grow further in the coming years. It is thus needless to say that Dubai is the perfect place to invest in 2021.
People all over the world prefer visiting the city. People worldwide visit Dubai to experience how the city has turned into a paradise on the earth. In Dubai, people get to see beautiful skyscrapers, luxurious hotels, fantastic properties, etc. The city is also famous for arts and cultural festivals, such as Dubai International Film Festival and Dubai Jazz Festival, apart from many sporting events, such as Dubai Golf Desert Classic.
Dubai has a very low crime rate and is one of the safest cities in the world. It is due to the strict law and order in the city. For an investor, safety is one of the most critical concerns, as he wants to invest in a safe country. It is impressive to see the city with a low crime rate, and theft incidents are rare. Dubai is a perfect city to invest in a property.
The city has a perfect business climate and is among the best places in the world to do business. The following facts reveal why:
- Electricity supply: First rank
- Tax payment: Second rank
- Getting construction permits: Fifth rank
- Property registration: Seventh rank
- Enforcing contracts: Ninth rank
- Minority investor protection: Fifteenth rank
Dubai hosts world-class infrastructure that makes it an ideal place for investing in properties. In the city, you can see the world’s tallest buildings, such as Burj Khalifa. The Dubai international airport is one of the largest and the sixth busiest airports in the world in terms of handling international passenger traffic. The city also hosts the largest human-made port in the world–Jebel Ali.
What makes Dubai stand apart from other cities in the world is tax-free earnings. Yes, you heard it right. There is no tax on capital gains or incomes. Dubai also allows 100 percent foreign ownership of companies. There was also an introduction of a 10-year residency visa for investors and specialists. The tax-free advantage can be a sufficient reason for investing in a property in Dubai.
The Happiness Element
Dubai is a happy city that makes it more attractive. The government has also been trying to add more happiness to the lives of the city’s people. It will not be wrong with such an excellent climate to consider Dubai to be a paradise for investments.
Due to the UAE government’s visionary leadership and its emphasis on development in the economic, social, and cultural environments, Dubai is politically stable. Since the formation of the city in 1971, the UAE has remained a flourishing constitutional monarchy. And it is expected to remain so in the future. It is because of its belief and justice. With such a stable political environment, Dubai becomes the perfect place to invest in properties.
The benefits of owning a property in the majestic city justify why you should start looking for a property to purchase in Dubai. The good thing about property purchases in the city is that the process is hassle-free with the availability of many reliable property websites, through which you can shortlist properties sitting in your home even in your country. The online platforms also educate you about the prevailing property prices, locations, and regulations.