If buying a property in Dubai has always been a dream of yours since time immemorial then it’s perhaps time to transform that dream into reality today – without delay. With Expo 2020 coming to Dubai and it taking giant strides in terms of development, it’s a great time to be here, Documented below are top 20 reasons why you should consider investing in a property in Dubai.
1. It’s a matter of personal pride
Even before delving into details of Dubai’s real estate boom, we would like to remind you that owning an apartment in one of the plushest city-states of the world is beyond everything else a matter of personal pride. Right from its infrastructural facilities to its natural resources –Dubai has risen from obscurity to global prominence perhaps in no time!
2. Off-plan is back in the investment game
It was post the Great Recession in the year 2008 that off-plan investments suffered. However, they have staged a comeback this year only. Off-plan buying is basically buying something even before it is complete. These investments are generally backed by great payment plans as well.The good news is that these plans have made a comeback with more meaningful restrictions in place to safeguard your money.
3. It’s Affordable
Much to the joy of investors, Dubai now has affordable housing options. It has been opined that Dubai’s economy – today – is largely focused on the middle-income as well as on the affordable sector. There is no dearth of developers launching affordable housing options much like its leading name JLL has done over all these years. The availability of the affordable housing options has bolstered competitiveness as well.
4. Some of the most reputed developers have made a comeback
Coming back to the off-plan projects making a comeback – reputed developers like Akoya, Emaar and Onyx have conveniently overcome the major impediment on the path of off-plan projects. Generally, investors don’t have access to lending options since banks are still not in favor of financing these types of projects. However, the aforementioned developers with stellar credentials have got their mortgage lending plans in place. So, that makes it easier for investors to realize their housing dreams.
5. Expect very High Returns on Investment
Yes! The real estate market of Dubai is actually in a brilliant phase with the city-state’s population increasing every year. The demographic growth only means better income for investors in terms of rent.
6. It’s growing more feasible with each passing day!
Yes! Once again you have heard it right. Not only is buying a property in Dubai affordable but it’s feasible as well. At the very onset, let us tell you that you don’t really have to arrange for a hefty deposit in this regard. You are not required to shell out 50% of the cost price of the house but only a paltry 20% of the same. The property developers realizing that not all investors have around 50% of the deposits to offer are coming up with their own financing plans to make things easier.
7. The Tourism Industry is Growing as well
Of Course, Dubai is a city full of tourist attractions and it pulls travelers like a magnet. Though you may not be able to link it directly to a reason why you should own an apartment in Dubai, we can still say that the growth of the tourism industry would mean the corresponding growth of trade, commerce, and construction sector.
8. Stricter regulations to safeguard interests of investors
This is a great time to own a property in Dubai simply because of the fact that stricter regulations were implemented in the year 2016 to protect buyers from fraud. Only legit developers can post ads now. Developers and brokers are required to secure approval from the Real Estate Regulatory Authority of Dubai before advertising their property.
9. Dubai will host Expo 2020
The city-state is all set to host World Expo in October 2020. The Expo is all set to draw 25 million visitors from around 180 nations. The Expo will run for six months and as such the attendees will need to rent houses as well.
10. The trends are in investors’ favor
Do you know that you now have access to 25-75 and 20-80 schemes that was not really readily available before?
11. Dubai is looking forward to make its citizens happy
The Ministry of Happiness was created in 2016. The main responsibility of the Ministry is to develop schemes that are bound to make its residents happy. It’s definitely aiming to win the title of the happiest city in the world.
12. You have access to different options
Yes—different options as far as types of properties are concerned. Depending on your budget you can buy anything in the emerging as well as the established communities.
13. The place is known for its low crime rate
One of the major reasons why the city is actually touted as a great place to be right now is the infallible sense of safety that it offers its residents. Even minor crimes are not least likely to take place.
14. Vision 2021
It has been largely opined that besides Expo 2020, Vision 2021 is all set to bring the focus back to Dubai with major firms considering relocation or expansion plans here.
15. Dubai has great economic prospects
One of the leading reasons why it’s advisable to consider Dubai for your overseas property is its growing economy. The economy here is growing at a steady pace. The graph has only shown positive movement in recent years.
16. Museum of Future
This one is a place where you can experience highly interactive exhibits alongside science conferences. It is all geared towards meeting all the challenges of a self-sufficient city.
17. Tremendous scope for innovation
Thanks to its tremendous infrastructural growth in recent years, it is well on its way to become one of the smartest cities in the world.
18. Zero taxes
One of the best attributes of investing in Dubai is that you are not required to pay taxes while buying residential or commercial property.
You buy a property in Dubai you become eligible for a resident visa here. Isn’t that great?
The sources of entertainment abound – plushest of spas, exciting safaris, yacht communities, water parks and what not!
Gordon Robertson MCSI
Owner Investme Financial Services LLC