As part of our expansion efforts and in response to increasing demand for international listings from our clients, Ramos Realty Dubai has been birthed.
Dubai emirate is an investment goldmine at the moment and has consistently ranked as one of the top global destinations for real estate investments.
With $41.1 billion worth of deals recorded in 2021, investors are flocking to Dubai in their numbers and it isn’t hard to see why.
Dubai welcomed 7.1 million tourists in the first half of 2022 alone making it the fourth most visited city by international visitors. Millions of people come to enjoy this picturesque metropolis, enjoy the various attractions as well as visit some of the most iconic developments in the world…like the Burj Khalifa, Palm Jumeirah, the Burj al Arab et al.
Any wise investor would immediately jump at the chance to key into the revenue generating potentials of owning property in Dubai, especially with more tourists preferring to stay at Airbnb’s as opposed to hotels. The apartment market is buzzing right now so much so that 68% of all real estate deals are transacted by international investors.
We’ve compiled a few reasons why you should invest in this thriving market.
1. High Rental Revenue
Investors can take advantage of the high tourist numbers to the city by renting out the properties short term. Dubai has a substantially higher rental yield than any other major global real estate hub. The best performing areas in Dubai record an average 10% rental yield annually while other areas earn from 6%. This is music to the ears of any savvy investor.
The UAE is not plagued with the many insecurity challenges of the Middle East and Dubai is the most peaceful city to live in the region. The city is very well policed and the latest in surveillance and crime fighting technology is deployed to keep both residents and visitors safe. The crime rate in Dubai sits at 0 meaning that you can invest your money in the knowledge that your investment is safe.
3. Residency Visas
An added benefit of purchasing property in Dubai is the government backed visa programme for investors. Buying a property worth 1 million AED guarantees you an investor visa which lasts anywhere from 3 to 5 years as long as you maintain ownership of said property. An investment upwards of 2 million AED opens up the Golden Visa opportunity as well, giving you the benefits of residency.
4. High Regulations
The real estate sector in Dubai is closely regulated by the government to ensure that investors’ interests are protected. The DLD (Dubai Land Department) monitors all real estate transactions and has developed a regulatory framework to effectively manage real estate investments and regularly makes updates available, ensuring that investors stay on top of all information regarding their investments.
5. Free Hold Property and Favourable Tax policy
Any property designated as a residential unit is considered Freehold meaning the investor owns the property perpetually and without restriction. There is no age limit to property ownership in Dubai meaning an investor could purchase for future generations. You don’t have to worry about property tax, income tax, inheritance tax or even stamp duties. The city only collects a municipal tax or service charge in order to fund local services.
These and many other reasons should help sway your interest in the Dubai real estate sector. The majority of the new developments offer so many incentives with competitive payment plans. Ramos Realty Dubai provides a gateway to cost friendly home ownership in one of the most favourable investment destinations. Check out our latest Dubai listings on our website or on our Instagram page @ramosrealestatedubai.