Why Dubai Property Deals Have Increased by 72%

  • primocapital
  • June 22 2023

Here is why Dubai property deals spike over 72% despite accelerating sale and rental rates

Dubai is one of the world's fastest-growing metropolises. Aside from its towering buildings, attractive waterfront tourist sites, and tree-shaped palm islands, one may also acquire homes in Dubai to supplement their current investment portfolio. Investors like Dubai because of the economy's ongoing expansion and stability. Furthermore, because it has one of the most diverse economies, the country receives a considerable volume of foreign investment each year. Here are the key reasons why Dubai property deals spike over 72% despite accelerating sales and rental rates with no sign of coming slow!

Booming economy and population

Dubai is attracting foreign investors more than ever because of its highly diversified and stable economy and revenue from tourism to trading. As a result, the economy of Dubai has tremendously improved across all sectors and witnessed excellent capital growth. This is because the government is establishing Dubai as the MENA region's heartbeat of business and commerce.
The population rate has increased significantly by 86 percent in the last decade. With an inching population, the economy is also growing in ways one cannot imagine. This is, in turn, increasing the demand for residential properties for rentals.

Global hub

Dubai is well known for being the busiest place in the UAE, where thousands of working professionals and students can be seen traveling from one place to another daily. In addition, several businesses are run in Dubai, and people from other countries visit here regularly and vice versa. 
Dubai also conveniently serves as a significant regional hub for businesses that want to expand in both directions, as it is the strategic midpoint between the East and the West. More than 8.2 million passengers travel through these modes of transport every year. This point is a significant factor for property buyers to invest in the right kind of household to cater to a wide range of tenant types- young professionals and families. 

Progressive housing market

The property market in any country goes through many highs and lows in a year for several reasons. First, housing units in most countries decline rapidly with time, and only a few new builds would emerge immediately to balance the market. This is not the case in Dubai or any other state in the UAE. 
With the surge in demand for homes in Dubai, the government plans to construct new dwellings like luxury villas, townhouses, lofts, and many other property types every year. As a result, a surplus of properties of all sizes and price ranges are available most of the time, thereby giving more housing options for investors. With an excellent property market in Dubai, no wonder investors, buyers, and tenants go crazy over properties.

Visa benefits

Buying a property is more than just a mere investment or an invaluable asset added to the collection. It comes with several benefits, especially when an individual purchases a property. When an ex-pat or overseas investor buys a house in Dubai, they can quickly get a resident visa. The minimum investment to avail of this feature would be a property worth AED 1,000,000 or more with the property with zero mortgage and approved by the government.
 Developing or off-plan properties do not qualify for a resident visa. Once the investors tick off all the requirements, they can apply for UAE citizenship effortlessly. Special schemes like golden visas are availed, mainly by wealthy investors who spend millions.

Structured framework

Luckily, property rules and regulations in Dubai follow all the required measures like a rental increase calculator, rental cap, proper escrow regulations, and a dispute settlement center. Every type of property acquisition or inheritance has a set of standards that must be followed for these transactions to be smooth for investors. Applying for a mortgage with the lowest interest rates is also an uncomplicated task, provided all necessary papers, such as employee ID, employer verification, wage slips, enough initial deposits, and so on, are readily available.
With its robust economy, potential for growth, tax incentives, global city status, and business-friendly environment, Dubai is an excellent choice for real estate investors.

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