5 Unbelievable Facts About Real Estate In Dubai

One of the world’s fastest-growing metropolises in the past decade, Dubai is quickly becoming a hot centre for real estate. With an influx of people from other countries and regions (including North America, Europe, China, and India) due to work opportunities, the population has grown over 20% in just five years.

Dubai has become synonymous with extremely rapid and enormous development. From the Palm Jumeirah to the Burj Khalifa and the recently unveiled Dubai South project, its skyline offers a stark example of humankind’s unquenchable thirst for materiality. But there's more to this potent city-state than that -- it also appears to be stepping up construction across all areas of society, be they residential or industrial, hotels or parks.

1)Better ROI

Dubai has consistently ranked as one of the top cities in the world for return on investment (ROI) in real estate. In fact, according to a report by Jones Lang LaSalle, Dubai was the top city for ROI in 2018.

2. The average rental yields in Dubai are much higher than in other major cities worldwide. For example, the average rental yield in Dubai is 5.19%, while in London, it is only 2.76%. (source: globalpropertyguide)

3. Prices for apartments and villas in Dubai have been rising steadily for the past few years. In fact, prices have increased by an average of 7% per year since 2013.

4. The demand for property in Dubai is still very strong, despite the recent economic slowdown. This is due to the large number of expats who are moving to Dubai for work or leisure.

Overall, Dubai is an excellent place to invest in real estate due to its high ROI

2) The World’s First Climate-controlled City

Dubai plans to make ‘Mall of the World’ the world’s first climate-controlled city. The city plans unveiled by Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum state that they want to make a 48 million sq. ft. city which will include apartments, hotels, the largest indoor amusement park in the world and an entertainment centre with a capacity of 15,000 people.

In addition to having:

• The World’s Second-largest Mall

The Mall of Emirates is the second-largest mall in the world. It has more than 5 million square feet of retail space. The mall has more than 1,200 stores and attractions.

• The World’s Largest Artificial Island

The Palm Jumeirah is the world’s largest artificial island. It was created using over 94 million cubic metres of sand and stone. The island is home to luxury hotels, resorts, apartments and other residential properties for sale in Dubai, boasting a population of more than 10,000 people.

• The World’s Tallest Hotel

The Burj Al Arab is the world’s tallest hotel and the world’s first seven-star hotel. The hotel stands at 1,053 feet tall. It has 202 suites, each with a private balcony with a view of the Arabian Gulf. 

3) Best Hospitality

Dubai is a city known for its luxury and extravagance. It should be no surprise that the hospitality in Dubai is second to none. If you're looking for the best hospitality in the world, Dubai is the place to be.

Dubai is one of the most popular tourist destinations in the world, thanks to its hospitality, unparalleled experiences, and architecture. Dubai is also home to a diverse population. Every year, millions of people from all over the globe flock to Dubai to experience its unique culture and architecture.

4) Sports Lover’s Paradise:

Did you know that there are over 200 different sports played in Dubai? That’s right – this city is a sports lover’s paradise!

There are plenty of world-class facilities for sports lovers, including the Dubai Sports City, which is home to some of the most significant sporting events in the world.

If you’re looking for a challenge, you can try your hand at desert safari racing or dune buggy driving. Or, if you prefer something more relaxing, you can enjoy a round of golf at one of Dubai’s many championship-level golf courses.

Whatever your preference, there’s sure to be a sport for you in Dubai!

5) There is No Property Tax

Dubai is attractive for real estate investment. In Dubai, there is no property tax! The average property tax in London is around £7,500 per year. This is a massive saving for investors when compared to other global cities.

Overall, there are plenty of reasons to invest in real estate property developers in Dubai. The lack of property tax makes it a desirable destination for investors and warrants that the best real estate developer in Dubai, like Shapoorji Pallonji Dubai, do justice to the expectations and needs of the people in Dubai.

Conclusion

Dubai is home to some of the most incredible real estate in the world. If you're considering buying property in Dubai, be prepared to pay a premium price. With its tax-free status and rapidly growing economy, investing in Dubai real estate can be wise. Whether you're looking for luxurious apartments for sale in Downtown Dubai or a solid investment, Dubai has something to offer everyone.

FAQ

Q1- Why is Dubai the best for real estate?

Ans- Dubai has no annual property tax, income tax, capital gains tax, rental revenue, or Value Added Tax (VAT), allowing investors to invest a much larger amount into purchasing a property.

Q2- What are some interesting facts about Dubai?

Ans- Dubai has robot camel jockeys, which is hard to accept, but the city was founded in 1833. Dubai is home to the world’s largest building, the world’s first seven-star hotel, the world’s largest photo frame and houses architectural stereotypes of the 22nd century, the Museum of Future. The Palm Jumeirah man-made islands can be seen from space due to the sheer size of their structure.

Q3- Why do people prefer to buy property in Dubai?

Ans- High rental yield, better capital appreciation, and no income tax are the main reasons why people prefer to buy property in Dubai.