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    Features

    10 Amazing Reasons to Invest in Dubai’s Real Estate Market

    Touted as the city of wonders, Dubai is one of the most popular destinations in the world for tourists and businesspeople alike. If you are setting your sights on a real estate venture, this is the best place that can make your dreams come true. However, before you take a step forward, you need to understand first how things work in this city and discover the factors that make it a great place to invest.

    The benefits of investing in Dubai is one of those topics that I am most passionate about discussing with my clients, especially first-time investors. In this article, I will share with you the compelling reasons why you can never go wrong choosing Dubai’s real estate sector as your next investment destination.

    Are you ready for the journey? Let’s get started.

    Transparent Transactions

    It’s a cliché, but true, that honesty is the best policy. If transparency is inexistent in any transaction, then trusting a person or company would be an impossible thing to do.

    The beauty of Dubai’s real estate market is that it is one of the most trusted and transparent in the world. In fact, it is in constant competition to land in the top spot of the list. According to the global transparency report published by Jones Lang LaSalle Incorporated (JLL), the second largest commercial real estate services firm of its kind worldwide, the real estate sector of the city is the most transparent in the MENA region, with nations securing the top spot are United Kingdom (1), Australia (2), and the United States of America (3), respectively.

    Hailed as one of the leading 100 transparent real estate markets worldwide, Dubai is now on the 40th rank, which is considered as a significant milestone for a city with a young history spanning only four decades. Not to mention, its real estate market is just 16 years old. In 2002, the government of Dubai issued a decree authorising foreigners to purchase a property in the region. From that time onwards, the city has witnessed unprecedented growth.

    Through the years, the government has also taken strict and consistent measures to ensure high levels of transparency, maturity, and stability in promoting real estate investment in the region. The establishment of an Escrow system to purchase off-plan property in Dubai is just one of the examples of these.

    If you wish to check the complete off-plan property transaction records on a daily, monthly, and yearly basis, visit the Dubai Land Department’s (DLD) website. Doing so also enables you to validate the ownership if you are purchasing something from the secondary market, for instance.

    This year, the government also reached a new milestone with the launch of a new project called Dubai 10X. The platform is still under development, but upon completion will enable home buyers and sellers to quickly and conveniently carry out online transactions.

    Myriads of Options to Select From

    Myriads of Options to Select From

    Portfolio diversification is another benefit of venturing into Dubai’s real estate market. The beauty of this multicultural city is that it offers everything that will satisfy your real estate cravings, as the sky is the limit when it comes to your options.

    Here are just some of the properties that you can purchase here.

    • Rental Property – Name it, you can find it! Dubai offers a wide array of properties and communities where you can earn a decent rental income. Once you’ve earned a million dirhams, you can easily purchase three studio apartments. In return, these can provide you with a yearly income from AED 75,000 to AED 100,000.

    Among the most ideal areas to purchase rental properties in the region include Discovery Gardens, Dubai Sports City, Jumeirah Village Triangle, Jumeirah Village Circle, International City, etc.

    Eyeing on some opulent and exclusive properties? Well, you can explore areas such as Downtown Dubai, Palm Jumeirah, Jumeirah Beach Residence (JBR), Jumeirah Lakes Towers (JLT), and Dubai Marina.

    • Townhouse – Planning to relocate to Dubai with your family? Purchasing a cosy townhouse where you can make beautiful memories and build the future is the best option. Whether you want a 2- or 4-bedroom townhouse, the city has got you covered from A to Z. Typically, the price of a ready 2-bedroom townhouse ranges from AED 1 million to AED 2 million depending on the facilities and the locality.

    If you are searching for something exclusive yet affordable, Jumeirah Village Triangle and Jumeirah Village Circle are two of the best locations you can consider to purchase your dream townhouse.

    • Villa – Do you need a bigger space to accommodate your growing family? Then, a villa is your best pick.

    Dubai offers a wealth of various villa communities that will suit your taste and budget. Dubailand is just one of the most ideal locations in the city offering several developments at an amazing deal.

    • Mansion – Dreaming to own a luxurious property that reflects your high-end lifestyle? With a vast selection of mansions in the city, you will never run out of choices. Among the exclusive locations you can check out include Al Barari (The Green Hub of Dubai), Damac Hills. Dubai Hills Estate, MBR District 1, Jumeirah Golf Estates, Jumeirah Islands, and Emirates Hills (The Beverly Hills of Dubai.
    • Holiday Home – This is a common choice among the elites and millionaires who love to spend their winter vacation in Dubai. As a popular tourist destination, there is a vast array of holiday home options available here.
    • Island – No other city in the world could ever be more famous than Dubai for making artificial islands. Among the island projects here include Dubai Creek Harbour, Deira Island (previously called Palm Deira), Palm Jebel Ali, and Palm Jumeirah, which is the most renowned of them all.

    World Island is another gigantic project underway. What makes it special is that from aerial view, it resembles the earth’s view from the international space station. If buying an island is your thing, Dubai lets you do that without fuss. Several islands in the World Island project are for sale, and you can be the next owner of any of them. Amazing, isn’t it?

    • Land – A lot of people dream of purchasing a piece of land in Dubai where they can build their home. Offering a family-friendly community in the city, The Residence in Al Barari District is just one of the most ideal locations that you can consider.
    • Private Beach House – Are you someone who fancies beachfront living? Then, there’s no better option than purchasing a private beach house. You can never go wrong choosing Palm Jumeirah, as it offers an exclusive community with the beach just a stone’s throw from your backyard. Here, you will feel and enjoy the tropical vibe all year long.
    • Commercial Property – As one of the most vibrant business hubs in the world, Dubai offers a broad spectrum of commercial properties for sale.

    Searching for a warehouse? There are specific communities for that. Looking for a yard? There are also designated industrial locations where you can purchase it. What’s more, you can even buy an industrial land where you can build a manufacturing plant or unit.

    With the much-anticipated Expo 2020 just around the corner, Dubai is setting its sights to becoming a global industrial hub. Among the most popular locations in the region where you can purchase industrial or commercial properties include Dubai South, Dubai Industrial City, Dubai Investment Park, Jebel Ali Industrial Zone.

    • Off-Plan Property – The beauty of the off-plan property market is that it is Dubai’s best performing real estate sector. Plus, there is always something fresh and exciting being launched in the region, so your options are endless.

    You can never go wrong putting your money in an off-plan property, as there’s no need to pay in one shot. Typically, developers offer extremely attractive payment plans to provide you with convenience and flexibility. In fact, in several cases, you can purchase an off-plan property in Dubai in monthly and/or quarterly instalments, get ownership, and still keep paying for the remaining balance for four to five years.

    • Office – There are myriads of sophisticated offices that await you here in Dubai. If you are planning to venture into a media company, the best place to purchase an office space would be in free zone areas such as Dubai Studio City or Dubai Media City. On the other hand, say you have a financial organisation, among the areas you can look into include Business Bay, Downtown Dubai, and Dubai International Financial Centre (DIFC).
    One of the Fastest Developing Cities in the World

    One of the Fastest Developing Cities in the World

    Dubai’s infrastructure changes at a rapid pace, making its growth truly exceptional. Thanks to the vision of its rulers, this city is now one of the best places to live and work in the world.
    Add to that the clean, comfy, and state-of-the-art public transit system, everything in this city is accessible. What’s more, the road network also keeps improving every year.

    Growing Population

    Growing Population

    When we talk about the growing population, it’s not about new births, but the increasing number of residents who move here from all over the globe.

    Dubai is a melting pot of different cultures, with people from various countries living and working together in harmony. Currently, its population is close to 3.2 million, which is a huge growth for a young city.

    In 1975, the total population of the region was 183,187. After 10 years, it rose to 370,788, and in 1995, it skyrocketed to 689,420. Come 2005 and 1.32 million people were residing in Dubai. After a decade, the population increased by 2.44 million, and as of today, the city has 3,159,128 residents.

    Dubai’s population growth only indicates that there is a significant demand for houses, and this makes the city an extremely attractive destination for real estate investment.

    In accordance with the government’s estimates, the population of the region will jump from 3.2 million to 6.4 million in 2027. Hence, new houses will be required to accommodate all these people.

    A Favourite Tourist Destination

    A Favourite Tourist Destination

    If you are aiming to get as much ROI on your real estate investment as possible, tourists are the key.
    Dubai is one of the leading tourist destinations in the world. In fact, an article published on Forbes Middle East cites the city as the fourth most visited city worldwide for four consecutive years. After witnessing the beauty and liveliness of the city, most of these tourists decide to either purchase a property, start their own business, or relocate here for work.

    There are a lot of ways how tourism can be of benefit to you as an investor. Let’s check them out below.

    • Tourists Turning into Residents – Once a tourist decides to work and live in Dubai, they need a place to stay. Living in a hotel or a holiday home for a long time won’t be the right choice, as it’s not economical. This is why most tourists opt to rent a house, and if you venture into the real estate investment market, you can be their landlord or landlady.
    • Tourists as Short-term Tenants – Say for instance, you own a chic apartment in Dubai Marina. This is by far one of the most exclusive destinations in the city where both residents and tourists love to live at and visit for leisure. By simply using a service such as Airbnb, you can turn your apartment into a holiday home. However, this requires more effort and dedication as someone needs to be present to take care of your property at all times.
    • Tourists Turning into Property Buyers – Buying a property in Dubai doesn’t end in paying for the purchase and searching for the right tenant. Sooner or later, you will find yourself wanting to sell your property as well. Since this region is well-known among travellers worldwide who also want to become real estate investors, you will never run out of potential buyers.
    A Melting Pot of Different Cultures

    A Melting Pot of Different Cultures
    One of the best things about Dubai is that it’s a multicultural city where people from almost 200 nations live and co-exist. Not only it brings people from various parts of the globe in one place, but it also incites them to showcase their cultural trends and traditions as well.

    There are several cultural festivals celebrated in this part of the globe. Islamic festivals are celebrated with devotion in the city. However, Diwali and Christmas are also widely celebrated here with much anticipation and excitement along with other cultures celebrating their traditional festivals.

    2019 is known as the Year of Tolerance, and the government encourages everyone to enjoy and practice their beliefs, cultural traditions, and religious rituals as long as they don’t become an impediment for the general public.

    Investing in a Multicultural Market

    In the UAE, privacy and public safety are taken very seriously, and this boosts the confidence of residents to relocate to the country.

    Several studies have been conducted regarding whether investment in a multicultural market is a great decision or not. Well, most of the findings reveal that investing in a city like Dubai is not only a good idea, but when you learn to adapt to it, you can expect to get better returns in the future. ‘

    Another key point to be noted here is that when people from various cultures co-exist, they end up forming a wonderful mixture of a new culture. When these people find their life partners in the city, it becomes a place for them to live and work. Their respective families also get invited to come along. As a result, this further increases the need for more properties to accommodate them as well as the number of people who want to explore real estate investment in Dubai.

    Unparalleled Safety and Security

    Unparalleled Safety and Security
    By reading the news and based on your own experience, you surely have an idea that in most parts of the world, it’s not safe for both men and women to travel alone at midnight. In Dubai, it’s a completely different story as we don’t even think about it. Whether it’s dusk, dawn, or wee hours of the night, safety and security have always been least of our concern.

    What’s more, you can just leave your wallet in an open public area without worry that anyone might steal it. And if someone ends up touching it, that would be for the sole purpose of handing it over to the nearest police station. There have also been several instances where a traveller forgot their belongings in the taxi and got it back untouched. Great, isn’t it?

    If you are wondering how the government of Dubai ensures that the city stays safe and secure, here’s the answer. They are constantly taking a number of steps to make that possible, and these include the following:

    • Severe Punishment for Drug Involvement – The possession of drugs can get you in serious trouble in Dubai. Those who are found involved in drug business here are put behind bars for years, made to pay a huge fine, deported to their home country, and are blacklisted from entering into the country ever again.
    • Severe Punishment for Drunk Driving – Drinking is allowed in Dubai as long as you have a license for it and you consume the alcohol in a licensed place. Keep in mind that drinking in public is strictly prohibited, as it causes interference in the general public.

    If you are found driving under the influence, you will face a hefty fine and will be put behind bars right away. Depending on the severity of the case, the jail term can be anywhere from 3 to 6 months.

    • No Gun Policy – The UAE has very strict firearm laws. In fact, an air rifle is the closest thing you can own to a gun, and securing a license for it is also extremely difficult. And here’s the catch—even if you are successful getting a license and purchase the firearm, you won’t be allowed to show or carry it in public.

    A person found to possess an illegal weapon can get jailed for a minimum of six months and a maximum of 10 years with a fine of not less than AED 15,000. Also, the sentence issued by the court concerning the possession of weapons is final and irrevocable.

    The result of such stern policies is a city where you can wander anywhere without the fear or paranoia of getting mugged, killed, or threatened at the next corner.

    • Special Department Exclusively for Women and Children’s Safety – Women and children are the most vulnerable members of the society, and Dubai puts high importance on their safety. This is why the Dubai Foundation for Women & Children exists, which is designed to ensure their well-being and security at all times.

    Also, women are treated with so much respect in the Arab world, and the city greatly reflects this culture. Hence, any complaint raised by a woman is taken very seriously in this city.

    Amazing Rental Yields

    Amazing Rental Yields

    Any mature real estate market works like this—you purchase a property, hold on to it for a given period, and sell it when the prices increase. The great news is that the property’s value always goes up. However, here’s the catch—you must also be willing to face the real estate market’s downward cycle.

    Dubai is just like the other real estate markets in the world in terms of upward and downward cycles. This means to say that if you invest in real estate in the city at the right time, you can anticipate the exponential growth of your investment in time. Honestly, the universal selling proposition of Dubai is not the probability of capital appreciation, but the incredible rental yields that you can get.

    Huge Rental Returns

    Huge Rental Returns
    Dubai is the perfect place for a real estate investor on a hunt for a market that provides the best rental yields to increase their passive income. This is confirmed by a recent article published on Business Insider where they have placed the city at the second rank of the top 25 best destinations in the globe to earn a good rental income.

    However, to make this possible, you need to ensure that you are working with a reliable and reputable real estate professional.

    Tax-Free Income

    Tax-Free Income
    Investing in real estate in Dubai will give you a win-win situation, as there’s no income tax in this city. Therefore, all the money you earn goes directly into your bank account without deductions from the government. Yay!

    These are just some of the reasons why venturing into Dubai’s real estate market is the best life-changing decision you could ever make this year. So, step up your earning potential by putting your best foot forward today! However, keep in mind that having a seasoned and empathetic real estate consultant by your side is the key to making your investment journey a success.

    Loai Al Fakir

    Loai Al Fakir

    CEO

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