It is true to say that the real estate market in Dubai has been evolving at a constant pace. For this reason all kinds of new projects making an appearance in this global hub of business. Being an esteemed international city, Dubai receives several billion in investments from foreign investors. However, in earlier times the wealthy capitalists used to lend their fortunes to the western market. This trend has taken a shift as investors get attracted by luxury property Dubai and its high ROI yields than other international markets around the world. On top of it, a new law on mortgages has been proposed which reassures more investment from foreign buyers, especially for small and medium-sized ventures. So this write-up will take you through all the aspects that make the real estate market different from other international markets.
The notable GDP guides Property Market in Dubai
The city’s significant growth rate in the economy is highly dependent upon the property market Dubai which prominently contributes to its gross domestic product (GDP). The question that arises here is how has Dubai always been able to maintain the real estate balance? Talking of the year 2021 Dubai city depicts exceptional resilient behaviour after the great turmoil of economic standstill globally. However, the government remains steadfast in enduring the economy during the pandemic period. For the current year, the GDP is predicted to elevate by 2.5% because of the comeback of the property market in Dubai.
The booming values of luxury homes in Dubai
While GDP is being pushed by the Real estate sector, the worth of luxury property for sale in Dubai is also on a boom. Unlike other property markets, Dubai’s real estate industry is under strict control of the government all the buyers and developers are under the protection of (RERA) which make sure the transparency and compliance of the market. Because of it, there is an upward trajectory of demand that keeps the prices high since the luxury property Dubai supply regulates.
The remote work visa program
The opulent lifestyle and glamorous skyscrapers are quite known in the rest of the world in several ways. Additionally, it has become the perfect spot for the people willing to work remotely as the pandemic continues to hinder us today. Unlike other property industries, Dubai provides a visa program for remote work that allows high-net-worth individuals to work and live simultaneously in their favourite place each year.
Tax less income
Dubai always has the scheme to catch the eyes of international firms and ex-pats by not implementing any kind of taxes including personal, income, and death taxes. This allows the purchase to own Dubai luxury homes without wasting any additional money while receiving high ROI yields than any European city.
All in all, the above-mentioned factors make Dubai the best destination to put your investment in. As property market of Dubai is a collection of investors from different parts of the world. In this regard, the real estate management firms are also playing their roles in making Dubai different from all other property markets. So, if you are still stuck on where to invest your money then you should consider Dubai for luxury properties.