The UAE is becoming one of the main points of attraction for private capital in the world. Do you want to buy property in Dubai but don’t know how to proceed? Visit Emirates.
Estate website, and their specialists will definitely help you find suitable properties and advise on all your questions. A property in Riviera MBR, or One Palm Omniyat in the UAE can become highly a profitable asset.
Interest among wealthy investors in the UAE real estate market is traditionally high, but the statistics of recent months shows a truly incredible increase in demand.
Experts predict that by the end of the year, property sales in Dubai will break all conceivable historical records. At the same time, this sector of the UAE market is expected to maintain an average annual growth rate of more than 8% for at least the next five years.
In search of profitable, reliable and secure investments in the face of global economic uncertainty, real estate in Dubai will remain an effective tool in the coming years, and the fact that in the first six months of this year sales reached 70.8% of total 2021, speaks for itself.
As you know, when choosing a direction for investment, luxury real estate buyers first of all analyze statistics and data, and they are undoubtedly impressive. Here are just a few figures:
- The total volume of transactions in the property sector in Dubai at the end of the second quarter increased by 33.3% compared to the same period last year.
- At the same time, since January, the total number of transactions was 38,901, which was the highest figure in the last 13 years.
- In just one day on June 30, 2022, the total amount of registered transactions in the emirate reached a record USD 1.06 billion.
The constant influx of wealthy people in the UAE is not surprising: the range of projects presented both in the primary and secondary markets, from premium to ultra-luxury, is really wide.
At the same time, in terms of investment attractiveness, the potential is one of the highest in the world against the background of the country’s rapid economic growth, the highest indicators of security and stability, as well as the liberalization of legislation and the visa regime.
Demand for Villas in Dubai
Abbas Sajwani, CEO of AHS Properties, notes that the demand for housing in general is growing thanks to the far-sighted social and economic reforms carried out by the government of Dubai last year, which attracted new foreigners to the emirate for permanent residence. In addition, during the pandemic, Dubai remained one of the safest cities in the world.
“The luxury real estate sector is equally attractive to both investors and high net worth individuals. However, after the visa reforms, more foreign investors are entering the market. The luxury real estate market is expected to double,” he added.
According to Coldwell Banker, two years ago people bought property mainly for investment purposes, but today everything is different. “Expats are considering Dubai as their permanent residence and are choosing villas and larger properties,” the company said.
Opening Funds to Finance the Purchase of Real Estate in Dubai
The government of Dubai is known not only for creating a high-tech and modern city with the highest standard of living, but also for initiatives aimed at attracting foreign investment. In particular, this also applies to the latest initiative of the ruler of the emirate, on which a decree has already been signed.
His Highness Sheikh Mohammed bin Rashid Al Maktoum signed a Royal Decree on incentives for real estate funds that invest heavily in commercial real estate. According to this decree, the minimum investment amount is AED 50 million, which is equivalent to USD 13.61 million. The use of investments in such a volume gives the right to receive benefits.
The Decree also contains a provision on the creation of a special Register of Real Estate Investment Funds. It will be created on the basis of the DLD. The decree also lists the conditions under which applicants have the opportunity to get into the Register.
It is noted that the Funds that wish to get into the register must differ in the presence of a license from state bodies. In particular, they must have an up-to-date license from the Dubai Financial Services Authority and the Securities and Commodities Authority.
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Real Estate in Dubai
If you want to buy property in Dubai, please visit Emirates.Estate website. Their experts will help you choose the best properties that are suitable for both personal residence and investment income.