The United Arab Emirates is known for its fast-growing economy, thanks in part to the oil deposits in the region. Of course, the Emirates has an excellent geographical location and an ideal climate, which contributes to the active development of the tourism sector. 137 airlines connect the United Arab Emirates with 130 cities around the world.
Affordability, quality and uniqueness of objects – in all these parameters, real estate in the Emirates ranks among the first in the world. When purchasing real estate in the UAE, you should take into account that many taxes associated with the purchase, rental and construction of housing are not here. You need to pay a property registration tax of 4%, but there is no annual property tax, value added tax, residential tax, income tax, etc. All this is another factor that attracts investors from all over the world, and in addition:
- Many investment options for every taste, from luxury villas and apartments to hotels, land plots and shops
- High return on investment
- UAE provides preferential conditions to foreign investors
- Political and social stability
- Liberal exchange rate regime
- Financial security
Real estate rights in the UAE:
Freehold – unconditional ownership of real estate
Leasehold – purchase on a lease basis for a period of 10 to 99 years
As a rule, a foreign client can acquire freehold ownership of real estate only in certain areas of the UAE: Ajman, Dubai, Ras Al Khaimah and Umm Al Quwain. As for other areas, objects and land can only be rented for up to 99 years (leasehold).
The cost of real estate in the UAE varies:
Apartments – from 100 thousand to 500 thousand dollars.
Luxury apartments and villas – from 900 thousand to several million dollars.
Dubai – perhaps one of the most famous emirates and probably the most attractive for investment. One of the most modern, rapidly developing and simply amazing metropolises in the world, with an elite real estate market. Many people associate Dubai with the city of the future, and this is partly true – real estate is being built incredibly quickly using cutting-edge technologies. Probably by now everyone knows the photos demonstrating the difference between the modern city and what Dubai looked like 50 years ago.
It is worth noting that the real estate market is largely aimed at clients interested in luxury property: luxury villas and mansions, apartments in skyscrapers.
What you need to know:
Factors influencing real estate prices:
- Surrounding area
- View from the windows
- Object area
- Adjacent territory and its area
Advantages of purchasing real estate in Dubai:
- Laws promote business development and investment in real estate Dubai
- Ultra-modern offices, high-tech enterprises and technology parks
- Free economic zone regime, low taxes
- Developed infrastructure
- Opportunity to purchase properties under construction, as well as secondary housing
- Favorable geographical location – resort region, promising for development
- State guarantees when concluding transactions, the process is transparent
- Uniqueness of objects
- High income when renting out real estate, constant rise in prices
- Possibility of sale during construction phase
- Possibility to obtain a resident visa (also for family members)
- Safe investments
In Dubai you can see some of the largest and world famous sites in the world. Including: a seven-star hotel, the largest shopping center, an indoor ski resort (Ski Dubai), the tallest building on the planet, the largest artificial island, Palm Jumeirah, the construction of which took 90 million m³ of sand and 7 million tons of stone and many other amazing objects . For a long time, the Emirates were first on the list of countries with the fastest growing real estate prices. And property prices are predicted to rise, given that Dubai is hosting the world’s Expo 2020.
All this certainly contributes to the fact that Dubai attracts the world’s wealthiest investors. To date, Three quarters of real estate in Dubai is purchased by foreigners.
Live on Riviera actively offers you a choice of holiday properties (seasonal rentals), residential properties (long-term rentals) and many attractive options for purchasing housing in the UAE.