Dubai is the most progressive and economically successful emirate in the UAE. There are a lot of opportunities to do business and earn money. One of them is real estate. In 2021, Dubai showed its proficiency in dealing with difficulties, overcoming the consequences of the pandemic, and reaching a new level of prosperity. Therefore, millions of investors from all over the world are trying to come here. The source https://emirates.estate/ told its users about the 3 main reasons why it is worth investing in the Dubai housing market.
List Of Key Reasons To Invest In Dubai Real Estate In 2022
Below are the most significant arguments that all potential investors should know about before entering the Dubai housing market.
Visas For Investment
Investors and end buyers can apply for a long-term resident visa in Dubai. What are the options to obtain it?
- A 3-year visa is issued for buying a home for AED 750,000 ($204,000, ¥1.3 million);
- 5-year visa can be obtained for real estate investments for AED 2 million ($544,000, ¥3.47 million) or more.
If investors have a large capital turnover and participate in the Dubai economy, they can expect to receive a 10-year visa. To do this, they need to meet the following requirements:
- Invest in the country’s economy AED 10 million ($2.7 million, ¥17.4 million) or more;
- Have a deposit of AED 10 million in the UAE investment fund;
- Invest at least 60% in the economy or company in the country, and invest 40% in real estate. The total investment amount is also AED 10 million.
Tax Regime
In Dubai, there are no taxes on most activities. Citizens and foreigners do not pay tax on business income and personal profit. Only companies with activities related to oil and gas production and banking are subject to a special tax.
The Cost Of Real Estate
Real estate prices in Dubai are lower than in other popular cities. For example, the average cost of 1 sq. m in the emirate is AED 13,700 ($3,700, ¥23,700). The difference becomes more obvious if we compare prices in specific cities, such as Hong Kong – where the average price per 1 sq. m is AED 121,200 ($33,000, ¥210,500). In Tel Aviv, this is AED 59,500 ($16,200, ¥103,400) and in New York, the average price per 1 sq. m is AED 56,000 ($15,200, ¥97,200).
Flats for sale in Dubai Marina and other areas of the emirate are available at Emirates. Estate. Here you can get acquainted with offers of ready-made and off-plan housing from well-known developers and current prices for different properties.
Follow TechStrange for more Technology, Business, and Digital Marketing News.
