Off-plan Projects In Dubai Marina Is The Best Investment Option In Dubai And Here’s Why
One of the main drivers of demand in Dubai is the desire to make money. Many people decide to enter the Dubai market after they hear stories about how a friend bought an apartment there and then sold it for twice the price. Off-plan projects in Dubai Marina, Palm Jumeirah and Damac Hills areas provide you with this unbelievable opportunity.
Return on Investment in Construction
The realtors of the emirate actively sell projects in installments and promise an increase in the value of the apartment at each stage of construction.
Buyers take a shoulder from the developer, because the installment plan is, in fact, a loan. Due to it, buyers receive high profitability, because, in any growing market with leverage, you earn. But this is an optical illusion: many buyers simply do not see that they are taking the shoulder. And games with leverage can end badly if the market goes down.
Dubai is like a big “Instagram” designed for tourists – everything is bright and beautiful and there are offers to buy something everywhere.
If an investor understands all this and consciously plays this roulette – why not. The main thing is to be smart and quick.
Comfortable Taxes and Security
There are a few more points that quite justifiably attract people to Dubai.
- The first is the absence of taxes. Now in the city, there are no taxes on income from employment, rental of real estate, dividends, or securities, and there is no annual property tax or inheritance tax. For a long time, there was no corporate income tax, but in 2023 it will be introduced. Many entrepreneurs come to Dubai for such a comfortable tax regime, and partners and employees follow them. This is a qualitatively new wave of immigration to the region, these people, like magnets, attract new strong people.
- The UAE maintains diplomatic relations with everyone: the United States, the UK, Russia, Israel, Turkey, Africa, India, and Pakistan, and people of more than 200 nationalities live in the emirates themselves. Superficially, this can be explained by pragmatism – “we will accept everyone, if only they bring cash”, but if you look deeper, then this requires great human strength to accept different sides of humanity and give place to all people who are ready to respect their laws.
- Finally, the city is simply safe – you can be alone late at night anywhere in the city and know that no one will touch you. There are plenty of stories how in the city the lost wallet has been immediately returned to its owner and the cars were left unlocked with expensive gadgets in it.
Also, Check – Topsail Beach Rentals Are Becoming More Popular- Here’s Why
Positive Outlook For The Market
If we talk about the prospects for the market, then we do not think that in the future prices will continue to rise at the same rate as they are now – most likely, they will be relatively flat. Especially considering that new construction in Dubai is outpacing population growth and that we may soon see an oversupply.
Although it should be noted that the more instability outside, the more money rushes here.
An important risk is the lack of a permanent mass of population, most of the demand is based on expats who live in this country as long as they have a job and as long as there is an economy in Dubai. It is because of them that there is a real demand for rent. If there is a global recession, then the number of jobs will decrease, the number of users of these meters will decrease and prices will decrease along with it. On the other hand, if this happens, then all other types of assets will simultaneously fall in price, so it cannot be said that this is a problem for Dubai itself.
The authorities are introducing new visa programs with more relaxed requirements for skilled workers and new rules that increase the transparency of transactions. The emirate already attracts many skilled and wealthy migrants from other regions. And this is not surprising, as it is one of the few places in the world where there are almost no taxes.
Real Estate in Dubai
Emirates.Estate website’s database of real estate offers allows you to choose your new home in Dubai easy and quickly. Start your search now!
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