Comprehensive information about buying property in Dubai
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Dubai is one of the largest and most modern cities in the world. Due to significant developments in the economy, trade, and tourism industry, Dubai has become a major economic center worldwide. These developments have made Dubai known as a safe path for investment in international communities.
In the UAE, buying property in Dubai is attracting the most attention among all investment methods. The reasons for this attraction include the absence of income tax, high rate of return on investment, the country’s political and economic stability, and other advantages that have attracted foreign investors.
Also, the existence of facilities for easy home purchase, such as installment home purchase in Dubai with the possibility of flexible installment payments and repayment over a period of up to 5 years or more, has further boosted the UAE real estate market and also provided a good opportunity to apply for residency through property ownership in Dubai.
Why invest in property in Dubai?
Two important reasons why Dubai is a good investment destination are its economic diversification and its lack of dependence on oil resources. This means that changes in oil prices do not have a significant impact on Dubai’s economy.
Another reason investors are attracted to buying a home in Dubai is the lack of crime in the UAE. Many people choose Dubai as their immigration destination because of its security. According to official statistics, Dubai is among the top 10 safest cities in the world for women. High security has also increased the rate of buying and selling property in the city.
Also, the lack of taxes on buying property in Dubai, high profits from renting out the purchased property, and the availability of recreational and welfare facilities are other reasons why investing in buying a house in Dubai is attractive. Also, the use of the best equipment in construction also makes investing in this area cost-effective.
Buying a house in Dubai
Currently, with the expansion of the real estate industry in the UAE, buying property in Dubai has become one of the safest and most profitable investments in the world.
Every year, the trend of buying houses in Dubai increases compared to the previous year, with an average increase of about 25% in 2022 compared to 2021. Also, with the end of the Corona pandemic and increased investment, the trend of buying property in Dubai increased sharply in 2023, with a growth of 46.71%, reaching 93.18 billion dirhams.
Overall, the UAE has been one of the stronger property markets in recent years compared to other major cities in the world. The high standard of living and the ability to obtain a temporary visa by purchasing property in Dubai have continued to drive property purchases in the city.
Types of houses in Dubai
In Dubai, construction companies build different types of houses depending on the plans, location, and land conditions. These houses can be in the form of villas, apartments, townhouses, penthouses, apartment hotels, etc. Below, we have listed a number of different projects of these companies, divided by house type.
Buying a villa in Dubai
By buying a villa in Dubai, you can live in a famous and amazing city and enjoy the peaceful and green residential spaces of this city. Beach villas are also one of the types of villa houses in the Emirates, located near the Persian Gulf and are a good option to start a new life with advanced facilities in this city.
Buying an apartment in Dubai
In simple terms, this sentence says that the presence of the largest and most famous real estate builders and developers such as Emaar, DAMAC, etc. in the UAE, along with statistics such as ranking third among the countries with the most tall buildings (314 towers and skyscrapers), shows that this country has well proven its ability to invest by purchasing apartments in Dubai and other things.
Penthouses and townhouses
For people who want to live their lives away from the hustle and bustle of the city and with a view of the entire city, buying a penthouse in Dubai is a great option. Penthouses are different from regular apartments because they are free from street noise and city noise.
Also, buying a townhouse in Dubai is a great option for people looking for a comfortable and relaxed lifestyle. Townhouses are similar villa-like houses, often built in rows next to each other. These houses are usually built in the suburbs and are connected to neighboring houses through shared walls. Each house has a separate courtyard entrance from its neighbors.
Goals and benefits of buying property in Dubai
UAE residency
2-year residency:
If the value of the property being purchased exceeds 750,000 dirhams, you can obtain a two-year UAE residence permit, which is renewable and can be obtained for the individual and family.
10-year residency (golden):
For the Emirates Golden Residency, which is valid for 10 years, the total value of the property must be more than 2 million dirhams to receive this golden residency. This case is also renewable, like the previous case.
Investment
Short-term investment
If you are planning to invest in Dubai for the short term, you can buy properties with high growth potential with the help of Coverdale Real Estate Consultants. You can make a good profit by buying and selling them in a shorter time.
You can also rent out your house and earn money from it. (Renting out a house in Dubai is one of the best ways to make money in Dubai)
Long-term investment
For longer-term investments, you can consider off-plan properties. These properties are under construction and you purchase them in advance, and most come with easy payment terms and installments. But after the project is delivered, it will have unparalleled profitability.
