Several factors have contributed to the success formula of Dubai real estate industry such as location, good governance, etc. Due to the large portfolio of properties available, property prices are coming down which is a favour to the buyer. Experts indicate it is the right time to invest in the Dubai property market.
If you’re an American investor and looking for a profitable property to invest in, here are some reasons why Americans should invest in Dubai:
- Tax-free rental incomes
Unlike in most countries, the UAE government does not impose a tax on rental incomes or the annual taxes you pay on your home. Therefore, if you have paid all the fees involved when buying the property, you won’t incur any taxes anymore for your property. However, you might be required to pay a housing fee and waste collection taxes. These are minute payments compared to the property taxes you have to pay when buying in other countries.
- Endless possibilities
The thriving real estate industry in Dubai is creating endless possibilities for investors. There are different types of properties to fit different needs. For instance, if you are looking for apartments for sale in Dubai, there is a wide range of options from high-end to budget-friendly. Also, some of them are located in prime locations such as the apartments for sale in Palm Jumeirah.
- Tourism industry
As far as tourism is concerned, Dubai is one of the biggest tourist destinations in the world. The city hosts some of the world wonders such as the tallest building, the biggest fountain, the biggest mall, etc. Investors will make huge profits as the city continues to attract more tourists.
- High return on investment
Even though there has been a drop in rent prices in recent times, investors can still expect a high return on investment than in other popular cities in the world. In fact, some neighbourhoods can offer up to 9.2% rental yields on average.
- New Offplan projects in Dubai
One of the most alluring features of the Dubai real estate industry is the off-plan market. Since the off-plan market was blamed for the 2008 crisis, the government enacted several measures to avert such occurrences. The best part of investing in the off plan property in Dubai is that properties are sold at affordable prices and come with friendly payment plans. Also, the market attracts some of the biggest players in the industry.
