From high rental yields to affordable off-plan property payment plans in well-maintained neighbourhoods, Dubai is an attractive location for global investors. The consistent and increasingly stable real estate markets with fair prices, have made Dubai the sought-after destination for investors, entrepreneurs, and ex-pats.
Here are some of the benefits to consider when looking to invest in the Dubai Off-Plan Market:
Affordable property prices
The Dubai markets are gaining worldwide recognition from investors with the stabilising property markets that are more attractive compared to established investment hotspots such as London or New York.
Flexible payment plans
Property investing in Dubai has been perceived unaffordable, and inaccessible due to large capital requirements. However, extremely flexible payment options, deposits of as little as 5% with the flexibility to make monthly instalments, makes investing in off-plan property in Dubai suitable for a wide range of people across the globe.
New property advantages
Given the fact that off-plan properties once complete are brand new, you are likely to avoid costly maintenance fees for a while after the handover.
Qualify for UAE residency visa
The government launched the golden visa scheme wherein any buyers of off-plan property that amount to AED 2 million or more are eligible to apply for a golden visa. The golden visa grants ten-year resident status in Dubai. The developers or real estate agents coordinate with the immigration authorities to approve this golden visa for investors and buyers.
Besides this, the country promotes foreign nationals interested to purchase properties in the UAE with other types of visas as well. Dubai Tourism alongside the General Directorate of Residency and Foreign Affairs has launched a retirement program in Dubai. This allows foreign nationals that are aged 55 and above to retire in Dubai with a five-year residency visa extension provided they have purchased a property worth AED 2 million or more.
Even if investing in an off-plan property does not qualify you for a residency visa, you may consider forming a business or becoming employed in the UAE.
As a tourist and non-resident, you can apply for a simple savings bank account in the UAE that allows you to do easy transactions or keep your savings in.
Dubai is currently a ‘zero tax’ emirate, making it a sought-after destination for property investors.
Potential for higher rental yields
Compared to many other world cities, Dubai is offering one of the highest rental yields and returns for investors. Investors could enjoy gross rental yields up to 9% with great prospects for future growth and returns with a growing, developing city.
Eligibility for freehold property
Investing in Dubai off-plan projects provides foreign investors and ex-pats access to freehold properties with well-serviced options in prime locations.
Possibility to sell before handover
To reduce the risk of investing, you can re-sell your off-plan property before the handover date. As the property or development is closer to its completion date, its value grows to allow you to potentially make a decent profit in the sale.
High quality of life
The city’s vibrant lifestyle, vast culture, diversity, and high levels of safety make Dubai an attractive place to invest. Dubai has increasingly become an appealing destination for ex-pat workers, investors, and regular tourists. As such, there will always be demand for properties.
Innovation and creativity
Dubai is recognised across the world for its exquisite city infrastructure and innovative vision. Property Developers in Dubai embody this by elevating their projects to meet this modern look and latest trends.
Join Asette and access to more detailed market insights and guided investment support.