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Dubai's real estate market has been growing quickly in recent years. Globally, investors have been paying more attention to this market. Investors from India, the United Kingdom, Saudi Arabia and Russia have made investments in the emirate last year.
As prophesized by experts, investments continue to pour in this year. There are many reasons for this. Many international and local companies are establishing branches and offices here, which are offering lots of vacancies, and, in turn, increasing the populace of the city leading to new developments. All of these changes lead to the significant growth of the real estate sector in Dubai.
The city seems like a lucrative and promising place for foreign investors. In fact, Dubai's prime properties seem quite cheap in international terms as London is six times more expensive and Hong Kong is still pricier. Thus, investments here bring high profits.
Owners can get a net rental profit of about 5 to 10% of the full value of their property or get a great resale value. Another advantage that investors have is that they are free of all the taxes, and the government allows complete ownership. Additionally, the current property laws protect investors in many ways.
Dubai's amazingly fast development, displaying modern infrastructure, a cosmopolitan environment and attractive locales, and being a major tourist destination are also among the many contributing factors that attract investors. Besides, Expo 2020 and the latest edition of Cityscape have brought in small and big investors.
In addition, there is a stable increase in property prices of around 15 to 20% per year on average. Most investors monitor such estimates and make decisions accordingly. They also thoroughly conduct research about the market and compare prices, keep an eye on the stock market and work with reputed and reliable real estate companies. The mantra is buy low and sell high.
• Dubai's real estate market is attractive to small and big investors
• City's prime properties cheaper compared to those in other cities
• Protective laws and absence of taxes an advantage to investors
Ask the Agent - Where is a good place to invest in Dubai?
Source: Arva Shikari, Special to Properties
The writer is a freelancer