Why invest in real estate in Dubai?

Why invest in real estate in Dubai??
Dubai is not only known for its iconic skyline, opulent lifestyle, and record-breaking statistics but has also earned a reputation as a premier investment center. Nevertheless, Dubai has been severely tested given the unpredictable market conditions the entire world experienced during the global Covid 19 outbreak.
Despite all the chaos, the emirate remained resilient thanks to its successful post-pandemic strategy and social and economic reforms, strengthening its position as one of the most attractive cities for investment opportunities.
The strong recovery was evident in Dubai's real estate sector, which has achieved a remarkable 73.7% record growth in the number of investments and a 65.6% increase in the number of investors since 2020. With real estate remaining one of the most popular means of wealth creation, Dubai is more lucrative than ever, attracting investors worldwide.
The city has transformed itself into a leading innovative and sustainable destination. We've compiled 10 reasons why investing in Dubai real estate should be your next financial move..

Growing population
We all know that Dubai is a cosmopolitan city where people from over 200 countries have settled in hopes of expanding their careers and businesses. As the city's population continues to grow, the demand for real estate is also increasing rapidly to accommodate this increase, bringing more investment opportunities to Dubai.
In fact, Dubai's population, which currently stands at around 3.5 million, is expected to practically double in 20 years, coinciding with the completion of Dubai's 2040 Urban Master Plan. Despite the setback caused by Covid-19, which resulted in a population decline of 8.4%, the city's population quickly recovered. With a rapidly growing population, thanks to thousands of expatriates from around the world moving to Dubai each year, it's certainly no surprise that investors are flocking to the city.

Fast moving economy
Another major advantage of buying real estate in Dubai is that the city benefits significantly from its booming economy. As a strategic hub between the East and West, Dubai is a major regional hub for businesses looking to expand in both directions.
Thanks to its highly diversified and stable economy with revenues from tourism and trade, it is attracting foreign investors more than ever. In the government's quest to establish Dubai as the heart of business and commerce in the MENA region, the economy has seen tremendous improvement in all sectors and incredible capital growth. Whether through the free trade zones or Expo 2020, Dubai has undeniably become the largest economic center in the Middle East.

Development and innovation
From the tallest buildings to the largest airports, cutting-edge development and innovation underpin Dubai's thriving economy and population. It is, after all, a "city of superlatives" and a "city of innovation"! Dubai is a major hub for technology and business growth and constantly evolves to foster an innovative ecosystem.
The Dubai Festival City Mall's "Icealice" features humanoid robots serving ice cream to customers. Through such innovations, Dubai is considered a global leader in AI, robotics, and fintech, encouraging innovative companies to develop custom useful products. Dubai also provides ongoing support and production sites for the development and testing of the various products of modern companies.

In November 2015, Sheikh Mohammed launched the Dubai Clean Energy Strategy. As part of this strategy, Dubai aims to meet 75% of its energy needs from clean sources by 2050. The strategy also aims to make Dubai a global center for clean energy and a green economy. It consists of five main pillars: Infrastructure, Legal, Financing, Capacity and Capacity Building, and Green Energy Mix.

By balancing environmental, economic and social sustainability with a forward-thinking vision, constant developments attract the masses to invest in Dubai as the innovative city aims to make every aspect of life hassle-free. Therefore, you can always expect something new and exciting, which is one of the biggest advantages of investing in Dubai.

Safety and Security
Dubai's security plays an important role in attracting more foreigners and investors to the emirate. In addition to successfully handling the global outbreak of Covid-19, Dubai, in general, is one of the best places to live as it has a very low crime rate and an efficient legal system known as one of the safest in the world, thanks to the adequate security measures in place. Regarding real estate investment, Dubai has a strict legal framework that protects the interests of investors. Dubai is also the most transparent and regulated real estate market in the entire MENA region, making it even more attractive to investors who know that their investments are secure.

High standard of living
Globally recognized as one of the best cities to invest in, Dubai offers an excellent quality of life and well-developed infrastructure. With world-class restaurants, luxury living, beautiful beaches, easy accessibility, and state-of-the-art entertainment and leisure facilities, it's hard to ignore why Dubai is an investor's paradise! Regarding real estate in Dubai, various developers are expanding their portfolio of increasingly attractive properties in increasingly desirable areas. Furthermore, one of the city's greatest strengths is that it is extremely affordable compared to other major cities and offers something for everyone's budget!

Tax-free investment
Those who buy a property in Dubai do not have to worry about taxes, as the emirate does not have any annual property tax, income tax or capital gains tax, making it the best city for real estate investment. After buying a property, owners will not pay any additional or regular taxes in the future, only the one-time transaction and registration fees.

This, of course, makes real estate in Dubai extraordinarily affordable and, most importantly, lucrative compared to other major cities where paying regular taxes is mandatory. The real estate market will not be affected even if corporate tax is introduced. So, you can buy a property in Dubai and be sure you will not be required to deduct a portion of your income constantly!

Higher returns in Dubai's real estate market
Real estate in Dubai offers a high return on investment, much higher than other cities like London or New York. It is indeed a rewarding experience as Dubai always has attractive properties in popular areas that offer exceptional returns.

Investing in a property in Dubai can yield high returns due to the lack of property tax. With one of the highest returns on real estate investments, you can expect returns of 7% to 12%.

Additionally, real estate prices in Dubai are on the rise, providing investors with a substantial profit. According to a recent UBS report, Dubai's real estate market is one of the few undervalued markets in the world compared to major cities like New York, Hong Kong and Paris. With this in mind, you can easily make a good profit by selling the property and then reinvesting in the future.

Investor-friendly policies

One of the biggest advantages of investing in a property in Dubai is that you can obtain a residence visa based on your real estate investment in Dubai. This applies to foreign nationals who invest at least AED 1,000,000 in a condominium property in Dubai, provided the property is completed and not mortgaged.

As non-EU nationals are allowed to purchase property in Dubai without needing a local partner, the city has seen a huge increase in construction activity, attracting foreign investors to the city's real estate market.

Another benefit for investors is that if you want to start a business or invest in real estate in Dubai, you can apply for a 5- or 10-year residence visa. You can optionally bring business partners or family members with you.

Excellent Health Care
Dubai has one of the best healthcare facilities in the world, making it an ideal place for retirees or others who want to enjoy excellent medical care in luxurious surroundings at reasonable prices.

Luxurious Lifestyle
Dubai is the perfect choice if you are looking for a place where you can live an opulent lifestyle. It is very luxurious, with world-class shopping, restaurants, luxurious infinity pools, entertainment options, gyms and sports facilities. Dubai is also home to some of the best hotels and resorts in the world. Logically, this dramatically increases the demand for real estate in Dubai.

Risks
Of course, it should not be concealed at this point that there are risks and pitfalls to be considered when buying real estate in Dubai. We will be happy to help you find the right property for you.

Conclusion
Over the years, Dubai has become a global metropolis full of investment opportunities, attracting people worldwide. With its innovative planning, impressive infrastructure, and sustainable lifestyle, Dubai is poised for exceptional growth and development, so you can expect your investment to flourish. If you are looking for a smart investment that will bring you a stable income, investing in Dubai is a great option.
Those thinking about investing in real estate in Dubai can be sure they are on the right track, as the market looks promising and has recovered significantly.
Moreover, Dubai real estate prices have stabilized, the market has matured, and a new real estate cycle is underway, making this an excellent time to invest in Dubai real estate.