Unlock the Secrets of Dubai Property Investments with Dubai Living VIP
Welcome to our blog, where we discuss the exciting world of Dubai property investments. As a trusted real estate consultant in Dubai, we understand the importance of making informed decisions when it comes to investing in this dynamic market. In this blog post, we will explore various aspects of property investments in Dubai, providing you with valuable insights and expert advice. So, whether you're a property investor or someone looking to dip their toes into the Dubai real estate market, this blog will help you for all things property investments.
Real estate in Dubai has, for several years, shown a steady increase in prices, demand and supply. As per the Government of the Dubai Media Office (GDMO), there were 122,658 real estate transactions worth AED 528 billion (USD 143.75) in 2022. The year-on-year growth was 44.7% in terms of quantity and 76.5% in terms of value. The average price of Dubai properties increased by 8.5–23%, depending on their type and status. The trend is continuing in 2023 as, according to the Dubai Land Department (DLD), there were 9,020 sales transactions worth AED 26.7 billion (USD 7.27 billion) in February, the highest recorded figure for this month.
High levels of security, excellent living conditions, developed infrastructure, proximity to the sea and soft tax legislation attract qualified workers, businessmen, investors and tourists to the city, stimulating the demand for housing. The emirate is currently home to around 90% of expats.
Residential property in Dubai
Non-residents of The United Arab Emirates are free to get residential or commercial property for financial investment or long-term residence. In 2006, the local government authorized a list of locations where immigrants have the authority to get apartments, houses and industrial centers with the right of private ownership. These areas were given the condition of freehold areas. The majority of the central residential communities of the city, as well as prominent seaside ground and islands, are consisted of in this listing.
Today, the emirate is actively executing brand-new household projects. Big advancement companies use an installment strategy to acquire homes and apartments under construction, with the possibility of paying over numerous years.
Foreigners can also take out a loan to buy realty in Dubai. Nonetheless, you should keep in mind that the down payment for non-residents is 50% of the worth of the item.
Property investment in Dubai
Experts predict that residential or commercial property costs in Dubai in 2023 will certainly increase by an average of 13.5% compared to in 2015. Capitalists can think about homes and houses in the emirate as reliable source for savings and raising capital. The essential advantages of investing in Dubai's realty market are the following:
- Long-term rentals generally yield between 5 and 8% annually. At the same time, the annual income from short-term rentals can be up to 13%;
- Many foreigners live and work in the city; tourists come from all over the world. All this maintains a steadily high demand for rental housing, allowing owners of apartments and houses to make a good profit;
- The UAE economy shows a positive vector of development that supports the prices and demand of the real estate market;
- Due to the absence of several taxes, investors can get a higher percentage of payback;
- All agreements, permits, etc. procedures are as simple and fast as possible, ensuring that the paperwork is much easier and allowing the investor to rent a home even without being in the UAE;
- The housing market in the emirate is regulated by the government, which protects both tenants and landlords.
Popular areas
The most popular areas for buying a property in Dubai and having high returns on investment are located in the central and coastal parts of the city. Freehold communities are the most sought-after for home purchases. These include popular neighborhoods such as:
Dubai Marina — a high-end waterfront community with a large, landscaped beach, a popular promenade running along the bay with marinas, a shopping center and numerous restaurants.
Palm Jumeirah — an artificial palm-shaped island that has become one of the most sought-after places to buy a villa or apartment in Dubai.
Damac Lagoons — a new independent gated community with luxury villas and townhouses next to the pristine blue lagoon.
Bluewaters Island — a small private island with apartment complexes, hotels and a large private beach.
Damac Hills 2 — a quiet family neighborhood where you can buy a modern townhouse or a villa in Dubai from developer Damac.
Off-plan sales launch in 2023
In 2023, sales of apartments and houses started in several off-plan Dubai complexes. As the property cost in Dubai is gradually increasing, the prices may increase by up to 20% by the time the construction is completed.
Buy property in Dubai
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We cooperate directly with the developers in order to promptly display real estate for sale in Dubai immediately after the sales start. Our clients can choose the best options for apartments and houses at attractive prices from the developers. You can contact us online and receive a free consultation with us.
