Investing In Dubai Real Estate: A dream destination for many, Dubai is no longer a shopper’s paradise!! It has elevated its status and has become a primary investment area for people from around the world and real estate is the biggest attraction. The start of the year 2019 saw the launch of forty eight real estate projects in Dubai. Luxurious living with state of the art facilities is what real estate in Dubai is all about. But the big question is “Is investing in Dubai real estate a good option or not??”
According to the data released by the Dubai Land Department, the year 2018 gave business worth Dh 223 billion only in real estate with 53000 transactions. The percentage of corporate investors increased sharply in 2018 as compared to individual investors. India has been a big contributor as far as investing in Dubai real estate is concerned. With investments touching over Dh 8 billion, India is the second largest investor in real estate in Dubai. Real estate in Dubai forms almost 7.2 percent of the economy.
Commercial real estate is one of the most favored means of investment for centuries. The principle behind this is simple, it offers a very stable tenant base and a higher return on investment too. Even though the value of property might vary but there is always an assured return on the investment and it usually increases over a period of time. The actual investment coupled with rental earnings can be quite an attractive deal. Dubai has a vast range of properties available for investment, thanks to the affordable prices. Add to it the fact that Dubai is one of the safest countries in the world.
The reasons to investing in Dubai real estate might vary in every case, but the one constant is that it is a lucrative deal to invest in Dubai real estate. It is tax free which makes it one of the most preferred way to earn an income. The fact that Dubai offers the best quality of living in the world when compared to other cities across the world. The 10 year visa plan will pump in extra money into the economy of Dubai thereby giving its GDP a major boost. The city is constantly evolving itself with its many developmental projects like the Dubai Metro extension, the Al Maktoum International Airport and many others which are sure to attract more and more investors to the Dubai real estate sector.
What determines good returns on a real estate?? Its location for sure! The conveniences and amenities available in the vicinity is a big plus when it comes to buying property anywhere in the world. Dubai is no exception to this rule. When investing in Dubai real estate make sure that the property is located close to the landmarks of Dubai. A point in the case is the Business Bay and the Dubai Marina, which are excellent choices for real estate investment in Dubai.
Here is a brief list of the favorable properties and sites to invest in Dubai:
- Business Bay and Downtown Dubai: Business Bay is the business hub of Dubai. It lies in the center of the city and has all the major corporates in the area. Downtown Dubai is home to the largest mall of Dubai and the world’s tallest tower the Burj Khalifa. Both the locations have very high value owing to their tourist potential.
- Dubai Marina: Apart from the fact that Dubai Marina is a major business hub with an electrifying view, it also attracts a large number of tourists and business travelers. Lying in close vicinity to the Dubai Internet City and the Dubai Media City, people prefer staying in Dubai Marina with all its excellent facilities and luxurious neighborhood.
- Dubai Sports City: This state of the art site has all the possible sports facilities of all major games on the planet. Be it golf, swimming, cricket, football and many others, the Dubai Sports City is well connected via all the major roads in Dubai.
- TECOM Barsha Heights: Known as the heart of New Dubai, Barsha Heights is home to numerous Fortune 500 companies and multinationals which include Microsoft, Reuters, CNN, HP, BBC, CNBC among a few. A business hub with a very high potential for investment and growth.
- Jumeirah Village Circle: Just 20 minutes away from the Al Maktoum International airport, the Jumeirah Village Circle is a major business center. It was one of the fastest developing areas in Dubai as far as residential and commercial real estate is concerned.
- Palm Jumeirah: The prime favorite with one and all, the Palm Jumeirah is an upscale real estate location. Be it luxurious villas or swanky apartments, Palm Jumeirah continues to be a hot favorite with real estate connoisseurs.
These are some of the prime places if you are thinking of investing in Dubai real estate. Apart from these there are many other property sites like the Arabian Ranches, Jumeirah Lake Towers, The Springs and many others.
Recession might have broken the real estate sector in the last few years in Dubai but it is trying to bounce back on its feet with its policies and investments. Dubai has some of the most glamorous projects in real estate lined up with spectacularly designed residential communities and commercial centers. The Expo 2020 is expected to bring in the much needed stimulus to the real estate sector as well.
Like the world over, Dubai too has been experiencing a slowdown in its property market. A higher committee for real estate was instituted to restore the demand and supply in the real estate market in Dubai. The higher committee is headed by Deputy Ruler Sheikh Maktoum bin Mohammed and many distinguished property developers of the region to carry out initiatives to pump the sector. Various policies have been formulated like a three year economic stimulus package of Dh 50 billion; a refreshed visa system aiming at long term residency of up to 10 years to specialists in the technical streams and many others.
So if you are interested then weigh your scales and seriously look into making the right decision of investing in Dubai real estate. To know about the best areas to invest in Dubai, you may visit here.