The United Arab Emirates holds leading positions among the countries considered for movement to permanent residence or housing investment. The pandemic has had its negative impact on the real estate market, but this year the situation has changed dramatically. Foreign citizens are actively buying properties, and prices for real estate for sale in the United Arab Emirates start to grow. Dubai is one of the most popular destinations.
Why is Dubai well worth real estate investment?
At least six reasons can be identified:
- Steadily developing economy. The main misperception concerns its direct dependence on oil. In practice, the UAE tourism sector generates no less profit. In addition, technologies actively develop in the country, and the presence of free economic zones contributes to an increase in jobs. As a result, the housing demand is constantly high.
- High quality of life. The well-developed infrastructure of the metropolis attracts expats from all over the world.
- A large percentage of foreign citizens. They amount to over 80% of Dubai’s population, which increases the housing demand.
- Affordable prices. If we compare the cost of apartments in major cities of Europe, you can see that apartments in the UAE are much more affordable.
- Profitability. The return on investment reaches up to 4% for houses and villas and up to 5%-6% for apartments and studio apartments.
- Simplified scheme for getting a residence permit. When buying real estate in the UAE, expats are entitled to live in the country for themselves and their family members. This allows them to spend the desired amount of time in the UAE, receiving the passive income from renting out an apartment in the absence period.
Which property to choose for investment
For foreign citizens, convenient schemes for housing purchases are provided, including those using credit funds. Studios and apartments with one or more bedrooms are in demand traditionally. Due to their relatively compact size, they have a more affordable purchase price, as well as an attractive rental price. However, in 2021, the market experienced unexpected changes so that detached townhouses and villas became the leading segment. They are purchased not only for movement to permanent residence or family vacation but also for renting out. Sales growth exceeded 200%. This allows us to confidently speak about the popularity of Arab real estate.
Assistance in selection and purchase of a real estate in Dubai
The https://emirates.estate/ catalog contains an extensive selection of properties with a focus on different budget levels. You can get acquainted with current offers from local developers and real estate agencies in real-time. The real estate in new-build housing and in the secondary market is in place. The company’s specialists will provide professional advice on the issues of the housing selection, its acquisition, and further use.