10 reasons why you should invest in Dubai’s property market in 2024!

10 reasons why you should invest in Dubai’s property market in 2024!

Friday 19 April 2024Wed 16 Feb
10 reasons why you should invest in Dubai’s property market in 2024!

We all know Dubai is a city on everyone’s bucket list, be it investors, tourists, families, and even businesses.

So, it comes as no surprise when Dubai was considered “the goldmine” for property investors in 2023, and this year, the city has stayed true to that notion.

Apart from being a global tourism hub, hosting tax-free incomes, favourable attractions, world-class amenities and an incredible lifestyle, Dubai’s real estate market is also home to a stunning array of properties that one too many investors have been eyeing up.

So naturally, did the question of investing in Dubai’s real estate market arise in your mind too? Because if you have been thinking, there couldn’t be a better time to invest and we’ve lined up the top 10 reasons why you should!

1. Transparent and regulated market

Who doesn’t love a regulated market where there’s complete transparency behind every sale? Dubai’s real estate market has it all!!

Being rated as one of the best and most transparent markets in the MENA region, Dubai’s real estate market shows no signs of slowing down. With transactions rising by 19.3% in Q1 compared to this time last year, Dubai has become a magnetic city that has attracted global investors, offering abundant opportunities for property investors.

2. Golden Visa

10-year visa? Sign us up!

Since 2021, the UAE has announced the introduction of a ten-year residency visa (a.k.a. the Golden Visa) and over 150,000 have obtained it. There are several categories through which you could apply but did you know that one of the largest was through property investment?

Yes! You can now obtain a golden visa in the UAE if you own a property or invest in Dubai’s real estate market with a value of over AED 2 million, and you don’t even need a down payment. This attractive long-term visa has also caught the attention of several foreign investors.

There are several luxury units around town, the majority being in the off-plan phase which crosses the AED 2 million mark. So if the Golden Visa is on your radar, this is definitely one way to get it!

Check out our live listings here.

3. Expect high rental yields

The main reason why investors consider Dubai’s property market a goldmine is because of its exceptional rental yields.

Dubai has also consistently ranked as one of the top cities globally for rental yields.

The city's booming tourism industry and the influx of expatriates created a strong demand for rental properties through which investors can enjoy impressive returns on investment through rental income, especially in sought-after areas like Dubai Marina, Downtown Dubai, and Emirates Living.

Not to mention, short-term rentals have promised many investors up to 30% in returns!

4. It’s tax-free!

Dubai's tax-free living is remarkably favourable for investors. And I mean who doesn’t want to live life tax-free?

There is no income tax on rental income, capital gains, or inheritance. This tax-free environment has enticed investors to maximise their returns, making Dubai an attractive destination for international investors!

5. A growing tourism sector and population

Dubai's tourism sector continues to expand, drawing millions of visitors annually.

This year, in just Q1 Dubai’s population grew by 25,700, while DXB Airports welcomed 3.67 million new tourists.

Through this, the demand for short-term rentals and holiday homes is on the rise. Investors can capitalise on this trend by investing in properties that cater to tourists, such as furnished apartments and vacation villas.

As per our Allsopp & Allsopp first-party data, holiday homes in Dubai met their annual projections within six months, while waterfront properties were likely to meet their annual projections in less than six months.

6. A stable economy

Dubai has a diverse and resilient economy, which for decades has been an attraction to foreign businesses and new residents.

It serves as a global hub for trade, finance, and tourism, which comes as no surprise as the city’s GDP is predicted to grow by another 5.2% in 2025.

The government's commitment to economic diversification has always ensured a stable investment environment and this stability is further expanded by a strong legal framework and transparent property laws in the market.

7. Affordability

This might come as a surprise to many, but Dubai is known to be one of the world’s most affordable markets.

Last year, the market average sales per square foot price of AED 1,257, coming off its last high from 2014 - this was recorded as one of the lowest globally when compared to New York, London and Paris. Currently, the average price per square foot stands at AED 1,325. Even with this increase, Dubai remains more affordable compared to global hotspot cities.

Property prices in Dubai start as low as AED 450,000 - for a studio apartment.

Not just that, but Dubai also has fairly lower interest rates and attractive payment plans which make it easier for first-time buyers to enter the market!

8. Rising demand

While supply in the city has been catching up to the market’s rising demand, Dubai’s property market is one of the highest in-demand places.

Foreign investors, businesses, individuals and young adults relocate to Dubai in search of homes, rentals and investments - this entails the market’s rising demand and high rental yields.

This demand isn’t set to slow down anytime soon, as many new developments are on the rise. We have also seen many new businesses and residents relocate to Dubai.

9. Futuristic infrastructure and branded residences

Dubai is renowned for its innovative infrastructure projects and now for its wave of branded residences.

From the Palm Jebal Ali to the Dubai Canal, the city continually invests in projects that enhance livability and attract investors. Plus, branded residences are all the craze now with Atlantis The Royal, to One & Only One Za’abeel - there’s a lot more on the horizon that has kept the city’s market on its toes!

These developments have promised to be a testament to Dubai’s futuristic growth and infrastructure as they include an ultra-luxury living standard that can only be found in branded residences.

10. A lifestyle like no other

Need we say anymore?

The lifestyle, living standards and upscale livelihood one can have in Dubai is pretty much self-explanatory from seeing the city itself.

So, got an investment on your mind?

Let us help!

If you are set to invest in Dubai’s property market, get in touch with our team of experts.

Want to know how much you could be paying for the different communities in Dubai? Take a look at our Data Hub!

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