So you want to invest in real estate? But before that, don't you think it's better to know as much as possible about it? It's important to note that, like any other market, the real estate market fluctuates. It's essential to thoroughly research and understand market trends before making any investments; knowledge is power.
What is real estate?
In this digital and external world, the only things that are as real as you and me are real estate, i.e., properties and land. And unlike you and me, this has existed for centuries and will exist for many more unless World War III happens. In that case, I might have to revise my facts on the off chance that I survive and have access to the internet. But until then, this is the way to go!
Why Invest in Real Estate:-
Unlike cryptocurrencies or NFTs, hot and trending topics can become the most criticized topic the next day; however, they can make you a millionaire all of a sudden. It is equally risky and might leave you broke even before you know it. Establishing corporations and taking them to success requires a lot of teamwork and still has risks and liabilities. But when it comes to real estate, it just keeps on growing in value. Yes, sometimes it might be a little bit on the downside; nonetheless, it will get back up and never leave you hanging. Since it already exists, its mere existence gives it value.
Dubai and Real Estate Investment:
As you might already be well aware, Dubai has become the most happening tourist spot in the world. Its exotic buildings, nightlife, adventure sports, lavish lifestyle, and otherworldly architectural projects will surely attract more people in the coming days. One primary reason is the city's substantial and diversified economy. Dubai has become a global business hub, so the demand for housing and commercial space is consistently high. Additionally, the government has invested heavily in the city's infrastructure, which has led to the development of new residential and commercial areas. Another reason why Dubai is a popular choice for real estate investment is the city's tourism industry. Dubai is a popular tourist destination for its luxury resorts, shopping, and entertainment. This has led to a strong demand for short-term rental properties like vacation homes and apartments.
Additionally, Dubai's government has implemented favorable policies for real estate investors. For instance, foreign investors can buy property in Dubai without restriction, and the process of buying and selling property is relatively streamlined. Additionally, there are no restrictions on repatriating capital or rental income earned from property investments in Dubai. And it attracts no annual property tax, income tax, capital gains tax, rental revenue tax, or value-added tax, which means that the greater your investment, the greater the profit you make.
However, there is an "effective rental income tax" charged by the government. Rental tax is 5% of the annual rent for residential tenants and 10% for commercial tenants.But even after considering all this, the pros outweigh the cons considerably. Another reason is the economic stability and political climate. Dubai has a stable government, and the economy has been growing steadily in recent years, instilling confidence in investors that their investments will be protected and profitable in the long term. The best thing is that in Dubai, areas designated as freehold are open to foreign ownership. Foreigners who do not reside in the UAE and expatriate residents may acquire usufruct rights, freehold ownership rights, or leasehold rights for a period of up to 99 years. If this is not enough to get you up and getting into action, as per a recent study by Business Insider India, the average monthly rent you can get on a rental property in Dubai is a whopping $3,070, which turns out to be 2,51,073.81 rupees per month.
Some Real Estate Project in Dubai
Suggested Plan of Action:-
The best action plan is to buy a property by taking out a loan against it and letting the tenants, who will live there and pay a decent monthly rent, take care of the EMIs. And eventually, as the loan is repaid in full, you will have become the proud owner of a property in Dubai without even putting a dent in your wallet. Now, this property will be a steady source of income for you. I bet you are interested in investing in real estate, especially in the future of Dubai. It is one of the safest and sure-shot ways to ride the wave of success and fortune.
Buying property in Dubai is always an asset, as its value will increase exponentially given Dubai's mature real estate market. But if you don't know what you're doing, it's just as easy to lose money as it is to make money when you invest in property. Since Dubai is still growing, the cost of buying property there is still cheap compared to more saturated markets like London, San Francisco, Shanghai, etc. Hence, this might be the best time to take action, as "time is of the essence."
If you want to know more about real estate in DUBAI, call +91-7065404303 to reserve your new home. whitecollarrealty.com is our site where you can find out more. You can also contact us through Facebook, Instagram, and LinkedIn.