Lifestyle living in dubai
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Real Estate Hack: Invest in Dubai
Dubai is to one of the seven emirates forming the United Arab Emirates (UAE). Positioned on the south-eastern coast of the Arabian Peninsula, it has established itself as a prominent global city and a major hub for business.
Recognized for its iconic skyline, opulent way of life, and state-of-the-art infrastructure, Dubai has gained worldwide acclaim as a sought-after tourist hotspot and a thriving center for commerce, finance, tourism, and innovation.
The city presents a captivating fusion of traditional Arabian culture and modern amenities, rendering it an enchanting and cosmopolitan metropolis. With a diverse population exceeding 3 million, it has become a magnet for real estate investment.
Here is why you should invest in Dubai
Numerous factors contribute to Dubai's appeal, making it a favoured destination for investors.
- One of the primary attractions is Dubai's robust and rapidly growing economy. Ranked among the fastest-growing economies worldwide, the city hosts numerous multinational corporations. This vibrant business environment generates a significant demand for housing, resulting in an upward trajectory for property prices.
- Dubai's expanding population is another key driver for real estate investment. With a steady influx of residents, the demand for housing continues to rise. Projections indicate sustained growth in the years ahead, further fuelling the upward pressure on property prices.
- The stability of Dubai's government is another factor that instils confidence in investors. The city enjoys a well-established political and economic framework, minimizing the risks associated with political instability or economic downturns, and safeguarding property values. It is also widely recognized as a remarkably safe city, boasting a crime rate that falls well below the global average.
- Investors in Dubai also benefit from favourable tax laws. These regulations ensure that a greater portion of investment profits remains in the hands of property owners upon sale, enhancing the overall return on investment.
- Dubai's exceptional quality of life, complemented by top-notch infrastructure and amenities, contributes to the city's allure. The availability of world-class facilities and services makes Dubai an enticing place to live, further amplifying the value of real estate investments.
Recent Statistics of Dubai Real Estate
The real estate market in Dubai experienced significant growth in 2022, with a nearly 60% increase in the number of property sales compared to the previous year. The total value of these transactions amounted to AED 264.9 billion (€66.3 billion), marking a substantial 76.1% surge from the previous year. Alongside the increased sales activity, property prices have been on the rise as well.
In the past 12 months, the square foot price of finished flats has witnessed a notable increase of 13.8%. For flats in the development stage, the final price has surged by a significant 27%. Similarly, villas are trading at a nearly 4% higher price compared to the previous year. Since the price low point observed in November 2020, property prices have recorded an impressive increase of approximately 30%.
As you see, investing in Dubai's real estate market is a strategic decision backed by numerous factors. The city's strong economy, growing population, stable governance, favourable tax regulations, and exceptional quality of life make it an enticing destination for property investment.
With recent statistics indicating significant growth in property sales and prices, Dubai presents a lucrative opportunity for investors seeking long-term capital appreciation or rental income. By capitalizing on the dynamic market and the city's unparalleled allure, investors can unlock the potential for substantial returns and secure their financial future.Embrace the exciting world of Dubai real estate and embark on a journey of prosperous investments.
Article authored by: Team Propfynd
Date: 15th May, 2023