How Real Estate Sector is Different from other Business Sectors in Dubai?
The past few years have been memorable in many ways as Dubai’s economy has experienced phenomenal growth. Similarly, the real estate market in Dubai has become a major subject of interest in 2022. So let’s check what it makes different from other market in Dubai
- Stable economy
- Attractive taxation laws
- Liquidity & rental yields
- A great place to shop
Now let’s check each of them briefly
- Stable economy : while a stable economy is never a guaranteed state of the economy, based on the growth that Dubai’s economy has faced in the past few years, it is highly anticipated to continue on the upward trajectory as the city attracts more tourists, investors and businessmen each year
Aiming to attract more foreign investment in the country, the government has launched several initiatives and reforms over the past few years. Including the introduction of a 10-year visa, with the aim of offering long-term residency to individuals and retaining talented people in the country
- Attractive taxation laws: one of the biggest advantages for living and working in Dubai is the absence of taxes such as personal income or property tax. This allows you to own any type of home without wasting money on extra expenses. This means you can rent out real estate and ear tax-free net income.
Looking ahead to 2022 and beyond, Dubai’s economy and real estate market looks set to continue its positive momentum, driven by continued inflows of new supply by government and semi-governmental sectors
- Liquidity & rental yields: With Dubai’s economy booming, the market is growing and so is the demand. This is great news for buyers, as continued high demand presents the ability to sell your property anytime in the future without losing money. The demand doesn’t stop at mere sale. Rental properties are in high demand in Dubai and if you own a property in one o the premium locations such as downtown or Dubai marina, owners can make huge profits from tenants
- A great place to shop: Not surprisingly, many of the properties on the market in Dubai have stellar views or beautiful surrounding, and many residential real estate projects are even built as part of entire community that include many amenities. So no matter where you are or what you buy, you are always sure to get the most for your money