Renters are increasingly becoming property owners in Dubai as they consider long-term residence in the emirate.
The real estate market in Dubai is not only stable, but also shows constant growth, and the developing economy of the emirate creates confidence in the future. This gives incentive to new real estate buyers who seek to profit not only from the increase in the value of properties, but also from high rental rates when renting out housing.
Many analysts agree that Dubai's real estate sector will be one of the fastest growing in 2024, making home buying even more interesting for renters. According to the latest data from the Dubai Land Department (DLD), property prices in Dubai have increased by 48.8% over the past year, by 19% in the last six months and by 11.6% in the last quarter.
Why tenants in Dubai are planning to buy their own property:
- the opportunity to design an apartment in accordance with your own preferences;
- renting out residential real estate in Dubai is a profitable investment that can bring an annual income from 5% to 12%, and even more with proper investments;
- the ability to remotely manage the process of renting out housing;
- payment of installments with rental income;
- the presence of an asset in the form of real estate in a promising country, which ensures the safe preservation and increase of equity capital;
- obtaining a resident visa.
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