Real estate is one of the most lucrative investment opportunities available. It not only provides you with a decent return on your investment but is also a valuable stream of income. Plus, a thriving market like Dubai opens you up to various avenues.
It is a global financial hub and has been the center of attraction for investors. The favorable trade laws, easy accessibility to financing options, and other factors make it an ideal place if you’re looking to make investments in the real estate sector.
So, if you’re still not sure whether or not you should invest in the Dubai real estate market, then this article is here to help you out with it. We’ll discuss the top factor that would compel you to invest in the real estate market.
Affordability and Variety of Choices
One of the main reasons that should encourage you to invest in Dubai’s real estate market is affordability. Many cities in the world, such as London, New York, Melbourne, etc., have extremely expensive properties. So, it can be difficult for someone with a limited investment to enter the real estate market.
However, that is not the case when it comes to making investments in the Dubai real estate market. You can find a good apartment or flat for anywhere between $180,000 to $200,000. These properties have a good growth prospect where you can enjoy a decent return in a few years.
Additionally, you can also get an optimal rental income to have some extra cash in your hand. You’ll be able to find properties for a much lower price if you choose to invest in buildings that are under construction. Moreover, the variety of choices also makes Dubai an ideal location for investment.
You can easily choose from luxury houses and villas to budget accommodations according to your preference. Buyers have unlimited options to choose from, depending on their needs and preferences.
Ease of Entry
Another benefit of investing in the Dubai real estate market is territorial accessibility. The city is located in the region of the Middle East, so it is only just a few hours away if you plan to travel. The robust infrastructure and the aviation system allow you to travel to and from Dubai without too much trouble.
Additionally, expats from Europe and U.S. don’t need to have a visa for visiting the country. They can also stay there for 90 days on legal grounds. Whether you’re in Europe or Asia, reaching this Emirati state will only take a few hours. This makes it a great place to invest in the real estate market.
Chances of Getting a Residence Permit
Another great thing about investing in Dubai’s real estate market is that it gives you a chance of obtaining a residence permit. Getting a residence permit in the UAE without investing in the real estate market can be quite difficult.
Some people have been in this Gulf country for decades but they still haven’t been able to obtain it. Nevertheless, you can increase your chance of getting a residence permit when buying a property. Also, you don’t have to go through a long or technical process.
The first thing you need to do is buy an apartment or a residential property that is worth $204,000 or more. Secondly, you need to retain that property for a time frame of three years. Once that is completed, you’ll be able to apply for a residence that can eventually extend.
Even if you don’t plan on applying for a residence permit, you can enjoy a high rate of return by investing in properties. You can also open yourself up to the possibility of earning a passive income through the property at a 5% to 9% rate each year through rent.
Investing in the Dubai real estate market can open you to a wide range of benefits, such as passive income, decent return on investment, and much more. Not just that, but it also you to diversify your portfolio since you can include a much more stable option than other asset classes such as stocks, crypto coins, mutual funds, and much more.