In this article, it will be described to you why investing in Dubai is amazing. Dubai has sunshine whole around the year, stunning beaches, desert safaris, huge shopping malls, and amazing infrastructures like Buri Khalifa and Palm Jumeirah. Tourists love Dubai as they can have a memorable vacation in Dubai.
Let’s see the reasons why investments in real estate are preferred by investors in Dubai:
- RoI is Great in Real Estate
In the Dubai cosmopolitan markets, the prices of properties are comparatively low. Dubai is also called as New York of Middle East, and it has some breath-taking structures and offering good location as well as costs for investors. You can buy 146 sq. Meter area with $1 million, whereas with the same amount, you can buy only 25.2 sq. Meter in London and 40.2 in New York. Though the rates will soon be increasing as the demand for residential projects in Dubai as well as rental properties is increasing.
Dubai Expo 2020 is approaching, and so are many businesses, and job seekers are rushing towards Dubai to make some revenue. Dubai is expecting more than 20 million tourists in the Dubai Expo. Tourism adds around 8.4% GDP to the economy of UAE. By the end of 2024, it is expected that 369,000 new jobs will be available.
- No Restriction in Investment if You are a Foreigner
Dubai has an open economy. So, if you are a foreigner, you can invest and buy properties in Dubai without any permit. Also, if you have properties more than 500,000 AED, you are eligible to get a residency visa.
- No Taxes
In Dubai, it is free to invest in real estate. Taxes are not charged if you are buying an apartment, residential villa, retail unit or an office.