In this day and age is it still a good idea to buy property in Dubai, let alone anywhere else in the world? The answer is a resounding yes but it all depends on plenty of other factors that determine your decision. Doing your homework is essential to meet your requirements at this point in life. Ask yourself the key questions like how does Dubai benefit me or my family? If you’re looking to reside there, what changes in life would I like to make and how does living in Dubai meet those changes? What’s the job market in Dubai like if you need to get employment? There’s a whole list of questions there needing your answers. This article will try to put you on the right path in owning a piece of land in Dubai.
Why choose to have a family home in Dubai?
Dubai’s property market had matured exponentially since 2008 and plenty of homes and housing projects emerged. Some say there’s been an oversupply of available property but that increases buyer choice.
Families have particularly been attracted by the prospect of moving near to exotic beaches and family friendly activities and amenities, like shopping malls, theme parks, cinemas and leisure centres. The safety aspect of the region has also made living in Dubai an attractive proposition. Streets are extremely clean as are community areas.
What about the needs of children and families living in Dubai. Well. there’s an entire network of schools and hospitals in the region. Both facilities are made readily for the public and also private clients. Some schools, colleges and universities are considered to be world class.
Transport is no issue in Dubai. The public transportation system is a mixture of buses, water buses, monorail systems, tram, and the main Dubai metro. There’s also the usual taxi service as well as well connected roads and motorways for drivers. Traffic levels can be busy at peak times but all public transport is fast, cheap (often the cheapest being for 4-5 people at a time), punctual and importantly very convenient. Taking a water taxi can be good fun for children to travel around.
Buying a holiday home in Dubai
Holiday homes are an extremely popular choice due to the constant sunny weather in Dubai. Holiday homes are mostly located in the best locations such as Dubai Marina, Jumeirah Beach Residence, Palm Jumeirah and Downtown Dubai.
There’s so much to enjoy (apart from the weather) holidaying in Dubai. If you’re to spend DH1 million on a property in Dubai you qualify for a resident visa. There’s no tax on that property either.
For adults, apart from the restaurants and beach, the nightlife is vibrant and exciting with a variety of clubs. There’s plenty of water sport activities to enjoy during the day because of Dubai’s close proximity to beaches.
Buying Dubai property to make money
Property investment is a sure way to secure your finances for the future if you find the best opportunity. Dubai is certainly a place to mature funds and reap some benefits from a yearly rental income for instance.
In comparison to other real estate capitals, Dubai is relatively much more affordable for property. It has been calculated that the average property price in Dubai is at least 6 times less than that of London. Coupled with cheaper pricing there’s no tax on property.
No matter in which part of the world you buy real estate, you will have to pay property tax. Dubai is famous worldwide among real estate investors because you don’t have to pay any tax against your property. Furthermore, Dubai offers on average one of the world’s highest rental returns.
If you are considering buying property in Dubai, why not get in touch with One Investments today.