The city of Gold, Dubai, gives the best experience, especially for those who are planning to diversify their investment portfolio. Since real estate is a booming industry in this contemporary world, buying a property in this emirate is a valuable option for high-end net individuals. However, when talking about what makes Dubai the best place to buy a home, there are many reasons and preferences that owe to this fact.
So, this blog will unearth the reasons which explain why buying luxury homes in Dubai is a good idea when compared to other parts of the world.
Starting from Scratch
Now, a huge number of people, belonging to different nationalities, consider this city as their second home. Since property management in Dubai is also easy, many of them see it as the best place to buy real estate. With the introduction of long-term visas for potential buyers and investors in the city, the prospects for buying property is accentuating day by day.
Now, let’s look at the reasons which make Dubai a famous real estate investment hub across the world.
Buying Property in Dubai Is Easy
An important contributor that makes Dubai an ideal destination for buying a dream home is the ease of doing business here. Apart from comprising the best lavish residential properties and market communities, the city encompasses the laws and the taxation system that is investor-friendly. Plus, this emirate is the best-undisputed hub in the region.
There are many real estate investors in Dubai that benefit from the income-tax-free system and the capital. There is also an advantage for them regarding the absence of extra levies on property purchases. So, it doesn’t matter whether you are buying a home for personal use or for investment purposes, there are simpler transactions and processes for it.
There is also a great advantage when you compare the emirate with other cities such as London, Paris, Geneva, and Monaco. Taking into consideration the quick property tax reforms these cities underwent and the imposition of extra charges for foreigners on the purchase of upscale properties, it has become way more difficult for the people to invest in these cities. All these factors coupled with healthy ROIs in the emirate’s residential market, an ever-increasing standard of living, and steady population growth make Dubai an ideal place for buying properties.
The Ideal Location
Dubai’s ideal location is yet another growing charm for investors. The emirate allows the investors to enjoy the best of the east and the west. Dubai’s time zone is among the most feasible time zones, providing businessmen with an ideal opportunity to expand globally. It also gives them a center point to match the timings of both worlds.
Apart from this, the perfect location of Dubai allows the residents to travel to other parts of the world easily. By taking a two to eight-hour flight from Dubai, they can land in main destinations such as Europe, Asia, and the Middle East. Consider all these factors with the long-term real estate visas and you can imagine that no investor can miss the opportunity of investing in this real estate.
The Convenience of Choice
Yet another factor that makes Dubai popular among ex-pats and investors alike is the provision of prime properties available for purchase. From extravagant villas and fully-serviced apartments to the finest penthouses – the portfolio of luxury properties in Dubai is unbeatable. The prime properties for sale come in a diverse spectrum, allowing investors to choose properties according to the areas, types of property, and the price they wish to pay for it.
Booming of The Real Estate Market
As per the recent data by DLD, the real estate transitions in Dubai surge by 33 percent in 2019. Also, for luxury properties, people have witnessed a prominent increase in the price per sq.ft. This indicates the rising demand for luxurious properties in the near future. The same trend was observed in the report published by the H1 Dubai Property Market Report for 2019, where investors showed a keen interest in opting for lavish properties including Downtown Dubai, Palm Jumeirah, and the Arabian Ranches 3.
Moreover, UAE is ranked among the top 5 countries preferred by millionaires according to New World Wealth market research. Being a financial hub, Dubai has become the most preferred migrating destination for wealthy ex-pats as well as HNWIs. The high influx of HNWIs allows important wealth inflows, which indicates the massive investment in Dubai’s prime property market.
In a nutshell, offering people the perfection of luxury, charm, and elegance at a price far more affordable than any other cosmopolitan city in the world. Thus, properties in Dubai remain a lucrative option for investors and HNWIs worldwide.