Investing in real estate nowadays is a great decision and it can bring huge benefits despite a few risks involved. If you are interested in going with this trend, Dubai offers you exciting reasons why you should make your investment there rather than any other part of the world. Let’s have a close look at how investing in Dubai’s property market is going to help you.
1. Continuous Growth and Development
Considered as the smartest city in the world today, Dubai is continuing to flourish every day. There are new big ideas popping up and every day we see something innovative happening in the country. So, would you choose to invest in a city where development is no longer thriving or venture in a place like Dubai where improvements never stop? There are millions of tourists coming to Dubai every year, and surely, something special attracts them to this part of the world. And, that’s actually the continuous growth and development in the region that grabs the interest of the masses. Furthermore, these people would look for a place where they could comfortably spend their vacation. Given a large volume of tourists, your place can very well be their perfect refuge.
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2. Low Costs of Acquisition
Compared to any other developed real estate market in the world, it is a guarantee that Dubai will offer you the cheapest costs of acquisition. For example, buying a property in London today would require you to pay around USD 3,208 per sq. Ft. while it only costs USD 468 in Dubai for the same acquisition. You cannot simply ignore this comparison. Acquiring real estate properties in Dubai will definitely cost you the lowest as compared to anywhere else in the global market today. So, investing in Dubai’s property market is going to be a decision you surely will never regret.
3. The Economy is Consistently on the Upswing
One of the most important things to consider when investing in Dubai’s property market is the country’s economy. Based on a recent survey, Dubai ranks fifth among the world’s fastest-growing economies. The country is not only dependent on the oil revenue it generates but has also opened up new avenues to expand its capital. In fact, today Dubai generates only 5% of its income from oil. The economic graph of the country is moving upward consistently since 2010 and the economy has really started booming these past three years.
4. High Rental Yield
When it comes to rental yield on your investment property, Dubai offers one of the highest figures in the world today. Generating an average of 10% yield on rental properties in some of the top areas in Dubai, it’s much higher compared to New York where the number stands only at 3.91%. Similarly, in London, it is 3.21% whereas in Singapore and Hong Kong it’s 2.83% and 2.82% respectively. To make it a little conservative, rental yield in Dubai will not be any less than 5.82% and, therefore, it’s no wonder why Dubai is the most sought after places for many investors when it comes to real estate investments.
You often achieve happiness and enjoyment when you have peace of mind brought about by a safe environment. No doubt, amongst the countries in the MENA region, Dubai remained to be the safest and most stable city while there were some political disturbances in the rest of the Middle East. This is one of the reasons people choose to settle here than in most other parts of the world. Furthermore, the police in Dubai is quite helpful and prompt, which is why people have discipline and criminal incidents are rare.
So, don’t think twice before investing in Dubai’s property market. With so many amazing benefits on offer, it’s now or never!