Last Updated on 1 year ago by Nicky Johnson
The United Arab Emirates amazes with its soaring development. An increasing number of foreigners choose Dubai as a place to move for permanent residence or for investment. The largest metropolis in the country is among the topmost comfortable cities in the world. Dubai property prices permit to choice of housing for any budget. It remains to find out what the advantages of this region are.
Despite the fact that the hot summer months require adaptation, the general annual temperature permits us to forget not only about the cold but also about the slush. Snow in Dubai can only be seen in gated communities intended for recreation.
There is everything necessary for life in the city:
- public transport, represented by bus routes and metro;
- developed healthcare system;
- a large number of schools with different teaching methods;
- a sufficient number of shops, places for leisure and original attractions.
Thanks to strict laws, crime in the emirate is practically stamped out. It is possible to freely move around any district both during the day and at night, without worrying about the safekeeping of property and personal security.
Affordable prices for the overseas property
If the pricing in major cities in Europe and the United States is compared with Dubai, it is possible be sure that housing in the emirate is more affordable. In addition, it fully complies with modern ideas about comfort.
Easy way to make a profit
Apartments are in demand among the renters since almost 90% of the population are ex-pats. The profitability ratio of foreign real property is high, it can reach 7% or more per annum. The exact amount of profit depends on the specific property and its location. The greatest income can be obtained from real property in coastal areas and central districts of the metropolis.
Absence of taxes
Personal income, as well as ownership of real property, is not taxed. When investing in housing stock with a view to the subsequent rental, allows you to make a net profit.
A wide range of properties: it is possible to buy both apartments and villas in Dubai
There are minimum restrictions for foreigners on the acquisition of housing stock. It is important that the future property is located on the territory of freehold zones. There are more than 60 of them in the metropolis. There are no restrictions on the types of real property. To move to permanent residence or as an investment, both ready-made and the housing under construction of any area can be bought.
Resident visa for investment
A visa is required to live in the country. It acts as an alternative to citizenship registration, which is almost impossible for a foreigner to obtain. When buying housing worth more than $ 204,000, the owner gets the opportunity to apply for an investor visa. Read the detailed conditions for the resident visa registration in the source Emirates Estate.