Amir
Are you familiar with Facts about Dubai Real Estate? Are you looking to invest in Dubai real estate? With its large population, stunning beaches, and thriving economy, it’s no wonder that more people are turning to the city-state for investment opportunities.
Dubai is one of the fastest-growing cities in the world. With a population of over 2.5 million people, the demand for housing continues to skyrocket. Over the past decade, average home prices have risen by 30%, making it an attractive market for investors. According to the Dubai Land Department, foreign investments accounted for 15% of all real estate transactions in 2020.
This blog post examines the facts about Dubai real estate, from the types of properties available to the potential returns on investment. We’ll also look at why investing in Dubai could be an excellent opportunity and the potential risks you should consider before taking the plunge. Read on to learn more about this exciting real estate market!
Dubai is one of the cities in the world with the tallest skyscrapers, and the presence of these tall skyscrapers has attracted many people from all over the world to the city of Dubai.
The modern and stylish architecture of the city of Dubai is attractive to the local people of Dubai and has also made tourists interested in it.
A significant part of the UAE’s economy is real estate. With architectural marvels and mega-skyscrapers, Dubai has become a core business market for the city. People visiting Dubai for jobs and business have increased the demand for real estate.
Many lesser-known facts about Dubai real estate market make it a great place to invest. It has also gained worldwide attention recently due to its high property values and good valuations. Apart from the estimation and strong demand, many lesser-known facts about Dubai property market make it an excellent place to invest.
Dubai is the place of tall structures & excellent real estate properties! People from all over the world come to visit Dubai for business motives & purposes.
Have you always been fascinated with structures in Dubai? Want to buy a home in the business hub of the world? The modern architecture of the place attracts tourists & locals alike! Some interesting facts about Dubai real estate will simply blow your mind.
Regarding real estate in Dubai, there’s more to it than meets the eye. Even though you think you know it all, the real estate world has a lot of lesser-known facts, and it can be good to know about them before you buy one.
Here are a few things you need to know about facts about Dubai real estate.
Facts about Dubai Real Estate
This section will share some important facts about Dubai real estate.
Low cost of acquisition
Undoubtedly, cost-effectiveness is one of the most important aspects of facts about Dubai real estate. When buyers and investors face high acquisition costs, they are not attracted to the investment. However, compared to other capitals worldwide, Dubai has a low acquisition cost. Therefore, it attracts investors not only from other UAE emirates but from all over the world.
In the Dubai property market, the average price per square foot is $468, compared with London, where the average price is $3208. This is a huge benefit that makes a big difference to investors who are investing in Dubai properties.
Higher Rental Return
One of the important factors in determining property value is the rental yield. About 85% of Dubai’s population comprises foreigners, which has increased the rental market and solved the problems related to accommodation for everyone.
One of the attractive factors of Dubai real estate market is having a high rental yield. Some of the best rental areas in Dubai yield up to 10%, compared to just 3.2% and 2.8% for London and Singapore, respectively. It should be noted that the average rental yield in Dubai is not less than 5.8%.
Having a growing population
Population growth is one of the important factors in increasing the demand for the real estate market. According to various reports, from 2008 to 2018, the population of Dubai has grown by 86%. So now Dubai has become a global city and has citizens from more than 200 cities.
This extraordinary growth in the population of Dubai has made the Dubai real estate market the fastest emerging business hub in the world.
Dubai Real Estate Facts – Better ROI
Dubai is among the most sought-after places in the world for investment in real estate. Due to its modern facilities and amenities, Dubai is a hotspot for real estate investment. Dubai generates a handsome rental return that is higher than that of other metropolises.
Hence, if you are planning to buy a property in Dubai, either to use for yourself or to rent out, we urge you to not delay any longer before making a decision.
Property in Dubai is a ticket to residency
There is an excellent opportunity for you to acquire a residency visa in Dubai when you purchase property there. The history and rich heritage of the UAE have played an essential role in welcoming millions of people from many nationalities, cultures, and backgrounds over the years.
Dubai is the world’s first climate-controlled city
There are plans for Dubai to become the world’s first climate-controlled city shortly. The plan is to turn the city into 48 million square feet. As part of the plan, it will include,
- Apartment complexes
- Around 100 hotels
- An indoor amusement park that’s the biggest in the world.
- An entertainment center that can hold 15000 people.
Freehold and Leasehold Areas
In Dubai, the government has divided the housing market into two categories based on available housing.
Freehold areas
There is a type of property in Dubai called a freehold which can be purchased by Emiratis and non-Emirates.
Leasehold areas
A leasehold property refers to an area that isn’t available to the non-Emiratis but only allows them to lease it for up to 99 years. On the other hand, the locals, i.e. Emiratis, can also buy an apartment in a leasehold area.
It’s tax-free
As the only emirate in the UAE where you do not have to pay a property tax, you get to buy a property at a legit price without any tax imposed on it. The government of Dubai has decided not to impose any tax on properties. The tax-free properties have helped boost the Dubai market for housing.
The center of the world’s events
The real estate market in Dubai is expected to be a bright spot in the near future, as Dubai is becoming an increasingly important destination. Whether it is global conferences, world expos, or cricket matches, all these events are slowly moving towards Dubai as the center of international ceremonies and events.
This means that now is the perfect time to invest in Dubai properties and make them an excellent investment.
It’s calm and safe
One thing that adds feathers to the Dubai property market is the fact that Dubai residents feel secure in their surroundings.
The feeling of belonging and protection that you get while you are in Dubai causes you to stay and do business there longer, because you know that your money and assets are growing in a safe and comfortable environment.
Investing in the Dubai property market is still possible to reap the benefits later on.
Conclusion
In this article, we have explained important facts about Dubai real estate. These facts are essential for all those who want to invest in Dubai real estate.
As a result of Dubai’s real estate market growth, the city is securing an economical and stable future for itself and its citizens.
The investment opportunities in the city and the development of technology are contributing to the growth of Dubai’s property market. With its diverse property offerings, Dubai is taking the lead in the global market for real estate.
FAQs (Frequently Asked Questions) Regarding to Facts about Dubai Real Estate
The benefits of buying real estate in Dubai include favorable tax laws, excellent infrastructure and transportation, world-class health care, a safe and secure environment, high-end entertainment and shopping options, and excellent educational opportunities.
Types of properties available in Dubai include villas, townhouses, apartments, condos, and plots of land. Dubai also has a wide range of luxury and commercial properties.
The cost of real estate in Dubai varies and depends on many factors, including location, size, condition, and amenities. Prices can range from a few hundred thousand dollars to several million dollars.
Dubai is a place where investment in real estate is a good idea. The city offers a variety of properties, from apartments to villas, as well as luxurious commercial skyscrapers. Dubai is witnessing rapid growth in almost every sector, so investing in its real estate market is worthwhile.
Dubai offers world-class infrastructures, security, rental yields competitive to the rest of the world, lucrative returns on investments for property owners, and tax-free income for the residents.
According to the reports from DLD, several countries invest in the Dubai real estate market in large quantities, including India, the UK, China, Pakistan, and Saudi Arabia.
