Are you considering investing in real estate in Dubai?Then you're taking a big step! Buying real estate in your own country already seems like a piece of cake, let alone in a country so far away and so different from our own. Yet the city and its surroundings have a lot to offer and a move there is not so illogical. Especially if you know that the city government itself arranges a lot of things so that you as a foreigner can easily invest in real estate.
Is Dubai your favorite vacation spot? Or are you such a fan that you are even considering living there permanently? Absolutely right! After all, Dubai and its surroundings have a lot to offer. And let that be the reason why so many foreigners - and especially Europeans - are becoming increasingly interested in investing in real estate there.
Why invest in real estate in Dubai?
Yes, Dubai is mainly known for its white beaches, towering buildings and gigantic shopping malls... Yet that is not the only thing. Companies have been taking notice for several years, and real estate investors are also increasingly finding their liking in the city. But how come?
1. Growing population
There are several reasons for this. One of the most decisive, is the population. It is growing extremely fast. And the more heads there are, the more housing is needed. So the demand for housing is very high and it looks like that demand will only increase.
2. Economic stability
Dubai has a robust and stable economy, supported by various sectors such as tourism, real estate, trade and finance. Its strategic location as a global business hub strengthens its economic resilience.
3. Benefits for real estate investors
So the demand for real estate in Dubai has risen sharply and it looks like it will continue to rise. This has also been well understood by the local government. They are therefore doing everything possible to make the city as attractive as possible to real estate investors. For example, they did away with taxes, ensuring tax-free profits. The government also created an investor visa. This is a three-year visa that can be easily extended.
Of course, those financial benefits come with conditions. For example, you must make an investment there of at least €187,500. Do you invest €500,000 or more in real estate? Then both you and your family will be granted a 10-year visa.
A real estate purchase in no time
Buying real estate in Belgium involves a whole process. Buying in Dubai, on the other hand, can be a lot simpler.You can even complete a property purchase remotely. A property purchase in Dubai? It can be done in the following ways:
Types of purchase options
Property acquisition on plan
One option is the "off-plan purchase," where the building in which your property is located is yet to be built. The disadvantage? You have no control over the finish of your apartment or house. So things can still go wrong after you have already deposited your money.
Ready property purchase
With the "ready-property purchase" you buy property that is already fully finished. This type of property purchase can be visited physically and can also be rented from the time of purchase. This also means that this type of real estate also pays off immediately.
Transactions
Once you've tied the knot, you still need to decide on financing options. The easiest way? A cash transaction where the full amount is transferred directly. Or choose one of the payment plans offered by the developer. There are some conditions attached to this! You will be asked to pay an advance of up to 25%.
Dubai, important for the entire Middle East
Dubai is the capital of the United Arab Emirates and, incidentally, one of the most important cities in the Middle East. For this reason, more and more companies are moving there. This has led to a large influx of expatriates, who in recent years have made up as much as 80% of the local population.
The city and its population continue to grow visibly every year. As a result, new opportunities are constantly presenting themselves in Dubai, benefiting not only businesses, but also tourists and the real estate industry.
Want to know more about investing in Dubai or about real estate acquisitions in the city? You can read more about it here.
