Dubai is home to many business minded people from all over the world. It is becoming the central hub for commerce and trade. Dubai has a lot of expats that are in the UAE to work and to find jobs. Here are 10 reasons to consider when investing in real estate Dubai.
Reasons to Invest in Dubai Real Estate
Expo 2020 is coming to Dubai
Dubai is preparing to host the World Expo in October 2020. It is expected to attract about 25 million visitors from over 170 nations. After the announcement of the EXPO being held in Dubai, there has been an increase in off-plan properties.
Off plan properties are ideal for investors that want to get a good profit in the long run. Real estate investors that are buying property in Dubai close to the Expo will have a huge profit in return. The Dubai EXPO 2020 is expected to last for six months and millions of visitors would need homes to stay in. The demand for rent is expected to increase over time in Dubai.
Dubai Is Becoming One of the Happiest City in the World
The government in Dubai is keen on making Dubai one of the happiest city in the world. Dubai created a Ministry of Happiness in 2016. The aim of doing so is to develop programs and policies to help improve the level of satisfaction the people of Dubai have. This is a major step towards making it a happy and peaceful place to live in. Resulting in the increase in investment for residents of Dubai.
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High return on investment
Real estate in Dubai is always likely to return profits. The population of the city is increasing, so is the demand for homes. This is affecting the real estate sector of Dubai, boosting investment and the purchase of sales of homes in all districts in Dubai. There is a great increase in the number of investors especially because there is an increase in interest rates.
Booming Tourism Industry
Dubai is attracting a lot of tourism especially because it has many interesting places to visit. The Palm Jumeirah and Burj Al Arab for example. The Palm Islands are known as the first man-made islands in Dubai. This makes it a great tourist destination. The beaches are excellent for a family holiday. Some of the world’s best amusement parks are in Dubai. Dubai also has some great stadiums that host many international cricket and football tournaments.
The Museum of the Future
The Museum of the future is a great place to experience the cutting-edge simulations and interactive activities. The museum also has scientific conferences that give an insight into future scientific projects and trends. The museum also focuses on the major challenges the world is facing and highlights the possible ways we could improve problems like climate change, water shortage, and food scarcity.
Low Crime Rate in Dubai
Dubai is known to have a low crime rate. This makes it an ideal place to invest in property. Minor crimes are very less as well. One can leave their car keys in the car and walk away, there is a very slight chance of it being stolen. The Dubai Police does a great job to maintain the safety of the city as well.
Superior Transportation Routes
Dubai is developing its transportation infrastructure, the Hyperloop is one of the transport systems Dubai is working on. They are going to make pods that will travel at 1,200km per hour. The goal of the transport system is to allow passengers to travel from Abu Dhabi to Dubai in 12 minutes.
No Annual Property Taxes
Investing in Dubai’s real estate market is completely tax-free. If you purchase a commercial or residential property, you will not need to pay taxes. The no-tax policy helps investors greatly. There are a lot of people that come from all around the world to invest in homes in Dubai due to this no-tax policy. Hence this makes Dubai an ideal place to invest in.
Dubai’s Population is increasing
Dubai’s population is increasing, this will increase the demand for homes. The population of Dubai is estimated to reach about 6 million by 2030. The population is mainly increasing because of the increase in the number of expats coming into the country. The good thing about Dubai is that the government is helping and encourage foreign investment. Especially because the oil deposits in the country are running dry. Tourism and real estate investment are becoming the major factors for economic growth.
A Great Destination for Entertainment
Invest in Dubai if you want to make the most out of all the fun out there. Dubai often has night shows, festivals, stage plays and award functions for its residents. People living in Dubai never get bored of the life there.