Collaborative post
Today, the UAE real estate market is one of the most favoured goals for investors from all over the world. Due to high demand, the price of real estate in Dubai in 2022 was gradually increasing. For the first quarter of this year, the emirate recorded an increase in the cost of accommodation by 7.54% year on year. At the same time, many experts are sure that the cost per sq.m. in luxury apartments for sale in Dubai has not yet reached its maximum value and will gradually rise.
Property in Dubai for investment
Currently, numerous investors prefer more conservative choices for saving and growing prosperity, and are moving from securities to real estate.
Essential benefits of Dubai for investors include:
- A good deal for money property.
- A wide range of opportunities to purchase, ranging from small studios to luxury villas for sale in Dubai.
- An opportunity to purchase housing on the rights of full private ownership.
- A high level of profitability (from 4% to 9% per annum) from renting out apartments and houses, in comparison with other cities.
Opportunities for the Dubai real estate market
Speaking about the prospects of Dubai as a city for investment in housing, it is important to pay attention to the thrift of the UAE. In the last year, it has shown stable growth, largely due to the increase in oil prices.
All this actively attracts new home buyers and stimulates the growth of the cost per square metre.
Ownership in Dubai
The UAE is a country where there are certain restrictions on property rights. There are areas where real estate can only be owned by residents of GCC countries.
The territories of the so-called freehold are allocated separately, where any foreigners, including residents of Ukraine, Kazakhstan, and Uzbekistan, can buy a villa, apartment, or other objects based on full private ownership.
In this case, the buyer will be able to dispose of the purchased housing at their discretion (transfer by inheritance, sell, donate, etc.).
What property in Dubai is worth paying attention to?
If you look at specific indicators in terms of prices and locations over the past six months, then in the villa sales sector, The Palm Jumeirah remains the most stable area in Dubai. Here, the average price for property for sale in Dubai fell only 1 percent to 21,243 dirhams ($5,788) per square metre.
In contrast to The Palm Jumeirah, The Lakes is seeing the largest decline in prices, down 6 percent to AED11,210 ($3,055).
Prices at The Springs and The Meadows fell 5 percent to AED 9,223 ($2,513) per square metre, while Jumeirah Park saw an average price drop of 4 percent to AED 8,931 ($2,433).
In the popular low-rise area Arabian Ranches, which is expected to have one of the biggest new build volumes shortly, given this factor, prices fell moderately, namely by 3 percent quarterly, to 8,996 dirhams ($2,451) per square metre.
If you want to purchase real estate to obtain a UAE resident visa, then you should buy a property worth at most nominal one million dirhams ($270,000).
If the value of the property you have chosen is less, then a resident visa can be obtained, for example, through the establishment of a company in the UAE. The recipient of an investor visa can additionally apply for visas for their relatives.
Today, consumers can take advantage of competition among vendors, as well as affordability, and profit from it. In addition, there are a large number of really good residential off-plan payment options available to buyers in Dubai that are hard to find anywhere else in the world. This, coupled with new initiatives that have been taken by the government, could be the reason why there will be an increase in the number of foreign citizens who see Dubai as a long-term place to live, leading to more real estate investment in the emirate.
Real estate in Dubai
If you choose to purchase real estate in Dubai, then before reaching an agency, you can examine the most suitable opportunities for offers from developers and real estate agencies on the website Emirates.Estate. Here you can easily compare costs in euros, dollars and dirhams and choose the most appropriate properties for investment today.
The post Prospects for investors who want to buy property in Dubai appeared first on Growing Family.
