Thanks to the constant influx of people in Dubai, the demand for accommodation in this city is quite high. People who come here for work, business or a holiday must stay somewhere temporarily or permanently.
With this in mind, if you have been thinking about investing in a Dubai Sports City property or a home in another area of this city, now is a good time to put this plan into action.
Need more convincing that buying property in Dubai today is a smart investment? Then here are five reasons that will gently nudge you towards making this beneficial decision:
According to a report from Global Capital Partners (GCP) and Reidin, the total return analysis of real estate assets in major cities such as New York, London, Singapore and Dubai stood between five and 11 percent.
Dubai and Singapore have the highest returns on real estate assets with returns close to 120 percent in the form of rents and capital gains over the past 10 years. In Dubai, the majority of these returns have come through rental increases.
If you want to buy a piece of property in Dubai and turn it into a rental home, you can enjoy higher ROIs and profits. With more than 2.5 million people currently living in this city, you will not have a hard time finding the right tenant. This means that with proper maintenance and advertising, you can generally expect an income every month.
Get the best value for your money
Buying property requires a huge investment. In most instances, you will need to pay at least 50 percent of the property value as an initial payment. You will then have to pay your mortgage or loan over several years.
Leading property developers in Dubai now offer affordable payment options to encourage more people to invest here. They also work in partnership with major banks and lending institutions to provide financing arrangements that can help would-be investors have an easier time owning and paying for their new home.
Your developer will work with you to help identify and set up the best pricing and payment plans options for you.
Off-plan investing is popular and safe again
Buying off-plan means purchasing a piece of property before construction is complete. It is a property investment option that made a comeback in 2017. This is mainly due to the fact that many major developers started offering generous payment plans for their projects last year.
In addition, tighter regulations were set in place to keep investors’ money safe. These restrictions were formally established to avoid a repeat of the 2008-2009 market crash. They aim to prevent an inflow of buy-to-flip investors increasing the prices up for the end-user or the people who actually want to live in the property.
Investing in off-plan properties in Dubai offers several benefits, especially if it is your first time to buy a home:
- ● You will be able to arrange your finances better, avoiding being burdened with a loan for the whole amount of your property.
- ●You can choose from different payment terms that will suit your budget now, one that will not bury you in debt in the future.
- ●With a property that is still under development, you will also be able to put your personal touches into your future home.
Dubai is tax-free
The UAE is a tax-free country and, as such, you do not have to pay property tax when you buy a home in Dubai. You will not have to pay any additional taxes in the future, either.
This is a perk that you can also enjoy if you choose to work or open a business in Dubai. You will not have to pay any kind of taxes on your income. If you have plans of setting up a business here, you can enjoy various benefits provided by the local government. More importantly, there is no need to carry the burden of capital gain or corporation taxes.
Enjoy Dubai’s magnificent lifestyle
Dubai’s standard of living is constantly improving. This city offers world-class infrastructure and high-quality products that can elevate your living experience. It is a place where you can work hard and enjoy life at the same time.
With the wide and enticing range of property investment options in this city, you will not have a hard time finding the one that you can call your home or your next source of income.
You can be able to experience luxury living in the most coveted addresses in this city. This is what leading Dubai property builders such as Elite City can give you.
Whether you are staying in Dubai to work, start a business or immerse yourself in the culture, consider purchasing a home here now. You stand to enjoy several advantages and you may soon be the proud owner of a new piece of property which you can add to your portfolio or effortlessly turn into your very own dream home.
If you’re interested in further information about one of our properties within the Triplanet Property Development Group, get in touch.