8 Reasons to Buy a Property in Dubai
It is a dream for many to buy a property in Dubai. Here are the top 8 reasons to buy a property in Dubai:
Upcoming Expo 2020
This is one of the major reasons now to buy a property in Dubai. Expo 2020 is the next edition of the World Expo. It is expected to be one of the grandest events in the globe. It is likely to attract a huge bunch of people. The count might be around 25 million people. People from as many as 180 countries are expected to join. This has majorly contributed to the off-plan property sector doing real good. Most of the investors who are planning to purchase properties that lie near to the venue for this event are expected to get massive returns on their investment.
Expo 2020 will be held over a period of six months. This also implies that there would be many people who would come in and want to rent the property in the present time. This clearly means that there would be good demand for rent.
Touted as the happiest city in the world
In the year 2016, Dubai formed a ministry named the Ministry of Happiness. The most prominent job of this ministry was to devise interesting programs as well as policies that could play lead to improving the levels of happiness among the residents of Dubai.
Getting decent returns on investment
In Dubai, the real estate market is getting bigger and stronger. The city’s ever-increasing population is not causing any hindrance in this context. The investors are aware that the growing population is wise in terms of buying homes. The residents highly intend to keep up with the increase in demand for rent.
Ever-growing tourism industry
This is a vital part of the economy of Dubai. It is more than evident that the city is full of tourist places to visit. The other important sectors include trade, various industries, and business services. Many new real estate projects and accommodation facilities like hotels are coming up. This implies that the city’s tourism industry is going and growing good.
Known as the Museum of the Future
The Museum of the Future is one of the greatest tourist attractions of Dubai. You are clearly able to see what lies ahead. The museum has several other attractions like scientific conferences.
Upcoming Expo 2020
This is one of the major reasons now to buy a property in Dubai. Expo 2020 is the next edition of the World Expo. It is expected to be one of the grandest events in the globe. It is likely to attract a huge bunch of people. The count might be around 25 million people. People from as many as 180 countries are expected to join. This has majorly contributed to the off-plan property sector doing real good. Most of the investors who are planning to purchase properties that lie near to the venue for this event are expected to get massive returns on their investment.
Expo 2020 will be held over a period of six months. This also implies that there would be many people who would come in and want to rent the property in the present time. This clearly means that there would be good demand for rent.
Touted as the happiest city in the world
In the year 2016, Dubai formed a ministry named the Ministry of Happiness. The most prominent job of this ministry was to devise interesting programs as well as policies that could play lead to improving the levels of happiness among the residents of Dubai.
Getting decent returns on investment
In Dubai, the real estate market is getting bigger and stronger. The city’s ever-increasing population is not causing any hindrance in this context. The investors are aware that the growing population is wise in terms of buying homes. The residents highly intend to keep up with the increase in demand for rent.
Ever-growing tourism industry
This is a vital part of the economy of Dubai. It is more than evident that the city is full of tourist places to visit. The other important sectors include trade, various industries, and business services. Many new real estate projects and accommodation facilities like hotels are coming up. This implies that the city’s tourism industry is going and growing good.
Known as the Museum of the Future
The Museum of the Future is one of the greatest tourist attractions of Dubai. You are clearly able to see what lies ahead. The museum has several other attractions like scientific conferences.
Additionally, it offers high-level courses on the most recent trends and achievements in science. This museum will solution-driven. It is certainly expected to deal with many critical challenges that are facing humankind in the current scenario. The most common challenges include water supply, cities that are self-sufficient, and food security.
Safe city
Dubai has a prominently low rate of crime. This is much unlike most of the other cities in the world. The occurrence of minor crimes as well is rare. As per the Dubai Statistics Centre, compared to its population of 2.4 million people in January 2016, Dubai would have 5.2 million people by 2030.
Good transportation
Dubai is already a smart city and it is getting even smarter year after year. There is clearly no stopping here! With regards to infrastructure, it has massively good transportation. Hyperloop One is an organization based in the United States of America (USA) that is presently creating a quicker route of transportation between Dubai and Abu Dhabi. This is likely to be the first working system to be created by the company in the world.
When this system gets operational, people can actually travel between the cities in pods. These are expected to travel at speeds of 1200 km per hour. This indicates that as and when this project is complete and operational, you would be able to travel between Dubai and Abu Dhabi in 12 minutes only. According to the estimates of Hyperloop One, there would be around 4000 such pods traveling between Dubai and Abu Dhabi regularly. This is a rough estimate.
No yearly property taxes
In Dubai, you are not required to pay any taxes for the same. This is inclusive of the residential properties as well as their commercial counterparts. This implies that when you buy a property over here, you need not to pay any extra taxes for the same.
Safe city
Dubai has a prominently low rate of crime. This is much unlike most of the other cities in the world. The occurrence of minor crimes as well is rare. As per the Dubai Statistics Centre, compared to its population of 2.4 million people in January 2016, Dubai would have 5.2 million people by 2030.
Good transportation
Dubai is already a smart city and it is getting even smarter year after year. There is clearly no stopping here! With regards to infrastructure, it has massively good transportation. Hyperloop One is an organization based in the United States of America (USA) that is presently creating a quicker route of transportation between Dubai and Abu Dhabi. This is likely to be the first working system to be created by the company in the world.
When this system gets operational, people can actually travel between the cities in pods. These are expected to travel at speeds of 1200 km per hour. This indicates that as and when this project is complete and operational, you would be able to travel between Dubai and Abu Dhabi in 12 minutes only. According to the estimates of Hyperloop One, there would be around 4000 such pods traveling between Dubai and Abu Dhabi regularly. This is a rough estimate.
No yearly property taxes
In Dubai, you are not required to pay any taxes for the same. This is inclusive of the residential properties as well as their commercial counterparts. This implies that when you buy a property over here, you need not to pay any extra taxes for the same.
What are some other considerations that you must consider?
The population of Dubai is growing. This is a major reason why so many property projects are being launched over here at such an alarming rate. As per the Dubai Statistics Centre, that compared to its population of 2.4 million people in January 2016 Dubai would have 5.2 million people by 2030. Moreover, Dubai is, without a doubt, tourist’s favorite.
It offers many desert safaris, spas, beaches, yacht communities, skydiving, and water parks. There are many regions in the city that offer awesome gourmet experiences. Surely, you would not want to miss out on some exclusive gourmets.
Things are cheaper here. The property prices in Dubai still in decline. Thus, it is the right indication for you to actually start looking for bargains. Focus on the secondary market and in off-plan developments as well.
A recent launch in Dubai posted villas priced at Dh1,800 and Dh2,700 per square foot. Certain property experts based in Dubai are of the opinion that the property here is undervalued to some extent.
Dubai offers investors with multiple offers and options. Most of the property developers are going for smaller deposits, new convenient payment plans, multiple incentives such as cars etc.
Dubai offers better value comparisons in global property consultancies. Though the activity in real estate sectors of both Abu Dhabi and Dubai has slowed a bit due to certain global factors, the market in Dubai still is highly positive and has the potential to grow a lot. Most of the high-quality options that offer lucrative gains continue to be in high demand.
You must buy a home in Dubai as your first priority if you genuinely intend to stay in the emirate for some time.
It offers many desert safaris, spas, beaches, yacht communities, skydiving, and water parks. There are many regions in the city that offer awesome gourmet experiences. Surely, you would not want to miss out on some exclusive gourmets.
Things are cheaper here. The property prices in Dubai still in decline. Thus, it is the right indication for you to actually start looking for bargains. Focus on the secondary market and in off-plan developments as well.
A recent launch in Dubai posted villas priced at Dh1,800 and Dh2,700 per square foot. Certain property experts based in Dubai are of the opinion that the property here is undervalued to some extent.
Dubai offers investors with multiple offers and options. Most of the property developers are going for smaller deposits, new convenient payment plans, multiple incentives such as cars etc.
Dubai offers better value comparisons in global property consultancies. Though the activity in real estate sectors of both Abu Dhabi and Dubai has slowed a bit due to certain global factors, the market in Dubai still is highly positive and has the potential to grow a lot. Most of the high-quality options that offer lucrative gains continue to be in high demand.
You must buy a home in Dubai as your first priority if you genuinely intend to stay in the emirate for some time.
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