Real estate in Dubai is favored not only among those thinking to move to a permanent residence. Furthermore, customers desire to buy houses in DAMAC Hills for investment. The most prevalent assets are in the housing stock of coastal areas, actively in demand among tourists. But this does not mean that real estate in Damac Hills remains the only one available. There are more than 60 communities in the emirate in which foreigners can own housing with the right of full ownership. It remains to be seen how profitable it is to finance in property for sale in Dubai.
Inexpensive prices
You can notice this if you compare the cost of accommodation in Dubai with the costs of comparable properties in Paris or LA. In the emirate, you can find both exclusive premium properties at a cost of tens of millions of $ and budget housing worth several hundred thousand dollars. Property for sale off the plan allows you to become the owner of an apartment at an even more affordable cost.
Apartments in new developments can cost anywhere from $500,000 to $1 million, while more upscale apartments in Dubai city center can reach prices of $2-3 million. However, flats in Dubai can be found at more reasonable costs even in more prestigious areas such as Palm Jumeirah.
In addition, the state provides certain incentives for investors who purchase real estate, which makes this city even more stunning for financing in real estate. For instance, investors can be privileged to reside in Dubai, an additional benefit.
While apartment prices are affordable, customers must consider additional costs such as taxes, commissions, and maintenance costs. However, despite these costs, investing in flats in Dubai stays promising and appealing for many people.
In general, the real estate market is an engaging area to finance due to inexpensive flat costs and incentives provided to investors. In addition, the city presents a high standard of living, many cultural events, and a wonderful climate, making it an attractive place to buy an apartment. However, it is essential to remember that the real estate market may be subject to changes, and possible investors should carefully study the market and create informed decisions when choosing an apartment.
Convenient taxation system
Property ownership is not taxed. Also, the owners can dispose of the apartment for sale in Dubai at their preference: sell, donate, endow, lease, and not pay taxes on income. This allows you to make a profit in its purest form.
High profitability percentage of flats in Dubai
The profitability of the accommodation stock directly leans on the kind of real estate and the area of location. On average, a homeowner can expect to earn up to 10% per annum from renting out a studio or 1-bedroom flat. The profitability ratio of villas for sale in Dubai reaches 4-6%. Detailed information on the return on investment in specific areas of the metropolis can be found on the official website https://emirates.estate.
High liquidity of housing
Most of the population of the emirate are visitors. Therefore, the demand for housing stock is consistently high. If there is a desire to sell an apartment or a house, finding buyers will not be difficult. Also, in the emirate, there is an annual capitalization of value, allowing you to profit from the resale. You can also gain revenue by funding in off-plan projects in Dubai. At the stage of the beginning of sales, prices are most favorable, and by the time the objects are commissioned, they automatically increase by several tens of percent.
The chance of accepting a visa
If such a desire arises, real estate proprietors can apply for a resident visa. It is issued:
- for 3 years when purchasing a residence worth more than $204,000;
- for 10 years upon the acquisition of one or more objects with a total value of more than $545,000.
This allows the homeowner to move to the emirate at any time.
Prospect of remote property operating through the services of real estate agencies in Dubai. Arriving to the UAE or consistently residing there is unnecessary to rent a property in Dubai. Many agencies supply real estate management assistance.