Why invest in UAE real estate properties in 2023?
The Dubai Real Estate sector saw 3,050 real estate transactions worth AED10.4bn ($2.8bn) last week, according to the city Land Department. The Land Department data showed 189 plots were sold for AED1.19bn and 2,239 apartments and villas were sold for AED5.11bn.
Due to the absence of taxes, Dubai is an attractive location for investment, particularly in the real estate sector, where investors can benefit from high rental yields of 2–10% and an average return of 7.5%. Coastal areas are desirable, leading to high demand and liquidity in Dubai’s real estate market.
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Dubai’s real estate market has been named the most transparent in the Middle East. Dubai is the most favorable location for inhabitants and investors due to its robust social, financial, and service environments. The ability to apply for a resident visa if they own a property valued at AED 750,000 or more is a big perk for international investors. Dubai’s trust and confidence in potential investors are further portrayed by the UAE government’s recent announcement that overseas investors would be qualified for a 10-year resident visa.
Furthermore, the real estate market in Dubai offers a range of properties at economical rates compared to the international market, making it an attractive option for investors looking to benefit from their investments. Dubai’s thriving economy, as a hub for tourism and retail in the Middle East, attracts a significant amount of foreign investment every year. Additionally, it is one of the top destinations for foreign direct investment projects.
Overall, investing in Dubai’s real estate market is a smart choice. It offers high returns on investment, and the government’s initiatives to enhance transparency in the market provide a safe and trustworthy atmosphere for investors. It is preferred to consult a real estate lawyer before buying or selling a property in the UAE.
