PROPERTYSPARK ARTICLE

Real estate investments in Dubai – why is it profitable in 2023?

Dubai has attracted wealthy real estate investors and expats for many years already. Dubai has everything for you to enjoy life. Beautiful roads, all kinds and forms of leisure activities, excellent transport, a wide choice of schools for your children, and a developed e-commerce are created to maintain high standards of living. All this contributes to the fact that more and more foreigners seek to move to the UAE. Investment in houses in Dubai can be viewed as a safe harbor for saving capital and earning money.

Economy of Dubai

Economy of the UAE is one of the most robust and stable in the world. Such a comfortable situation in the country has been established due to the following reasons:

• Elimination of oil dependence.

It is not the correct time to speak about complete elimination of oil dependence in all emirates. Dubai is the only emirate whose economy is not based on oil anymore. However, the government works on methods of economic diversification and removing oil dependence on the whole territory.

• Welcoming conditions for talented people.

Due to numerous migration programs and a big number of visas, talented people, professionals from various spheres, businessmen and students come to Dubai. More than 80% of the population of Dubai is expats. People of different origins, views and beliefs come to the city and benefit from a high standard of life, welcoming atmosphere and huge career opportunities.

• Absence of currency fluctuations.

Although the UAE dirham depends on the American dollar, there have been no currency fluctuations since 1978. It guarantees the stability of the economy and provides confidence for foreigners.

• Neutral political position on the world arena.

The UAE is a reliable and independent country that maintains maximum neutrality in foreign policy matters. Your nationality matters nothing in Dubai. The metropolis provides a pleasant business atmosphere for all rich foreigners.

Earning income of property ownership in Dubai

There are several ways to make money on real estate in Dubai. A homeowner can perform short and long term rentals, resale property in the process of construction or after delivery.

Spacious houses in Dubai can be used both for short-term and long-term rentals. Since more than 80% of the population of Dubai is immigrants from other countries, it is not difficult to find a tenant in the house. Profitability of the house when renting on a long-term basis may reach up to 10%. The amount of income depends on location of the house, number of rooms and design.

Property prices in Dubai are rising rapidly, so many people buy property under construction to sell it later at the commissioning stage and earn the difference in value.

Variety of properties in Dubai

It is impossible to describe Dubai with only one word. It has much to offer to foreigners with different budgets. There are apartments in skyscrapers for the ultra-rich as well as areas with small townhouses or villas, where families of average income settle down.

Real estate costs significantly higher in tourist neighborhoods like Dubai Marina, Downtown Dubai or Emaar Beachfront. The prices at the construction stage are $8,000-$15,000 per square meter.

More tranquil neighborhoods in remote areas are in demand among the middle class. The cost of housing in these areas is $3,000-$5,000 per square meter.

At the same time, residential real estate in Dubai is commissioned with the finishing, including full equipment with all plumbing, kitchen furniture and built-in appliances. All buildings necessarily have parking spaces for residents, and most projects also have amenities such as a swimming pool, gym, playgrounds, 24-hour security, etc.

In such a way, people with average and ultra-high income can select a suitable housing unit in Dubai and start renting a business.

Reputable real estate agency in Dubai

The real estate agency Dubai-Property.Investments offers qualified help for foreign buyers. In case you are lost in the jungles of premium real estate and or have doubts about the reputation of the developer, contact the specialists.

The real estate agents will help to select the suitable house in the desired neighborhood, manage the paperwork and give useful advice.

The outcomes

Profitability of real estate in Dubai is guaranteed due to stable demand on rental properties. Expats come to Dubai searching for better conditions for life and comfortable accommodation in a foreign country. In such a way, homeowners can make good money even in terms of living abroad.