Is Now a Good Time to Buy Dubai Real Estate?
Dubai is the largest and most populous city in the UAE and is rated as one of the best places to live in the Middle East. The city has become an increasingly popular destination for tourists, but is also a great place for buying real estate. Below are some reasons why now is a good time to buy Dubai real estate.
A Stable, Strong Real Estate Market
Currently, real estate prices are stable and rental returns on investments are good. Mahmood Shaikhani, Managing Director of the Shaikhani Group of Companies, also says that, “In another five years, the market will be stronger in a sense that people will be investing in Dubai [more] than anywhere else as the emirate will be the centre of investment.”
Favorable Rent Yields
Purchasing property now in Dubai will allow investors to benefit from the steady growth of the city’s real estate values. Dubai’s favorable rental yields (7 to 8% compared to only a 3 to 4% yield in major European cities) make it a solid investment for those wishing to purchase rental properties.
Purchasing real estate in Dubai saves money as the city has no property taxes. In addition, there are no taxes on rental income, capital gains or land making it ideal for purchasing property.
Dubai has established itself as a world-class city whose leaders are committed to its growth. It is also located in a modern, stable country. At the same time, Dubai continues to grow at a healthy pace, making it a good prospect for long-term growth in almost every sector.
Opening in October 2020 and running until April 2021, Expo 2020 is a universal exposition. Themed “Connecting Minds, Creating the Future”, the event will bring over 200 participants and millions of visitors from around the world to Dubai. An event of this size and length will most likely cause rental rates to rise, especially as the Expo draws nearer, making Dubai attractive to real estate investors.
An Attractive Lifestyle
Sunny Dubai offers an attractive lifestyle and a high quality of life for those seeking to buy a second home. With exceptional residential developments, hospitality and high-end retail, it is a fantastic place to live. Those seeking outdoor recreational activities will find beautiful beaches and magnificent deserts nearby. Dubai also has one of the world’s fastest growing economies, excellent infrastructure and a superior business environment which make it ideal for commerce.
A Great Time to Buy in Dubai!
Thinking about buying property in Dubai? To learn more, contact Elite City by phone +971 4 501 3656 or leave your inquiry here for more information. One of our associates will contact you within 24 hours.