Relevance and Prospects of Real Estate in Dubai. Tourist Attractiveness of the Country

The preference for housing in warm countries significantly impacts the level and quality of life, and this is explained not only by the pleasant climate but also by several other factors that make such a choice relevant for many people.

Warm climates are usually associated with mild winters and sunny days yearly. This can positively impact health, as daylight stimulates the synthesis of vitamin D, improving mood and overall well-being. Additionally, people with certain conditions, such as arthritis or asthma, may experience relief from symptoms in warmer climates.

Dubai, the emblematic city of the Middle East, with its stunning skyscrapers and exotic cultural treasures, continues to draw the attention of investors and residents from around the world. Buying real estate in this city via the best Dubai premium real estate agency in 2024 has evolved into one of the most relevant and promising investments in the modern world. Why has Dubai evolved a magnet for investors, and what benefits and prospects does this unique property offer?

Developing economy and stability

The city is not only the commercial and financial center of the region but is also rapidly developing in the fields of technology, medicine, and tourism. This diverse and resilient economy creates property investing here particularly appealing. 

Global tourist hub

Dubai is one of the most widespread traveler goals in the world, luring millions of tourists yearly. Acting as an attraction for vacationers, the city presents a variety of: 

• Entertainment options;
• Luxury hotels;
• Incredible shopping malls; 

A vast amount of entertainment.

Financing in property in Dubai suggests options to gain a regular rental income, as the need for short-term housing is always increased here.

One of the critical aspects that makes Dubai attractive for investment is the lack of tax on revenue from rental properties and the lack of personal revenue tax. This supplies investors with the possibility to maximize recoveries and decrease taxation liability.

Policy for enticing foreign investors

The Dubai government vigorously sustains foreign investors and creates favorable conditions for their participation in the property market. The chance of 100% real estate ownership in free zones or special economic zones invests in the city especially appealing.

Dubai is busily funding in its infrastructure and implementing ambitious projects such as Dubai Creek and the Dubai South metropolis, which creates additional opportunities for growth in property values.

Buying property in Dubai via AX CAPITAL offers a unique opportunity to invest in one of the world's most dynamic and promising property markets. The relevance of this investment is supported by growing interest from both local and foreign investors. The economy's stability, tourist attractiveness, favorable tax system, and developed infrastructure make Dubai one of the best places for investing in real estate and promise exciting prospects for those ready to take advantage of these unique opportunities.

Why people choose UAE?

The UAE is just a little behind Turkey regarding the number of tourists; about 39 million people visit the country annually. Foreigners are attracted to the Emirates by its beaches, shopping, and ultra-modern architecture.

Both tourists and real estate investors pay attention to the largest city in the country, Dubai, and the capital, Abu Dhabi. Among foreigners, Russians, British, and Indians often bought housing here.

The UAE is often chosen for home buying because of its resident visa programs. Buying property worth $205,000 or more allows you to stay in the country for two years, and $545,000 will enable you to stay there for up to 10 years.

At the end of the third quarter, the annual growth in prices for real estate in the UAE of all categories (apartments, flats, villas) amounted to 12%. In addition, as local observers note, this year, the number of contracts for the purchase and rental of housing has steadily increased. The average price per square meter of housing in Dubai has already reached almost $3 thousand.

Foreigners have the right to get a mortgage in the UAE, although banks may have higher requirements for them in terms of income, length of stay in one job, etc. If a resident buys a home, for him, the down payment can be from 15%, and for foreigners, this will be at least 20%. Mortgage rates vary from 3-5% per annum.

Geopolitical and military tensions in neighboring countries have little influence on the UAE, which stays a haven in the Arab world, ready to welcome foreigners with money.