Investors interested in the real estate market are rather wary when it comes to putting their money in foreign properties. Foreign real estate depends heavily on the local economy and the socio-political dynamics of the region. Thus, it may appear to be a major risk. However, the greater the risk, the bigger the reward. The return on investment in foreign property is also quite significant. Real estate foreign destinations like UAE have emerged as robust and reliable property markets. Real estate investors are attracted to the UAE for the following reasons:
- Economic Growth
You don’t just invest in property, you invest in the locality. As mentioned earlier, the economy of the country in which they wish to invest plays a vital role in determining how well your investment may fare. UAE’s economic growth is expected to touch 3.2% by 2021 and is heavily backed by the Government’s economic stimulus plans.
- Remarkable Infrastructure
When it comes to property, the infrastructural amenities are bound to influence your decision. A stable and robust infrastructure will allow people to use the property in the most optimum manner. UAE offers an exceptionally sound infrastructure with last-mile connectivity, highways, schools, hospitals, and much more.
- Suits All Budget
Whether you are buying a residential property or a commercial property, you will find a variety of options that meet your budget and requirements. You can find plenty of properties ranging from luxury mansions to single room sets.
- High Security
One of the major reasons why the UAE is an attractive property investment destination is due to the high rental yield that it offers.
- Expo 2020
Dubai will play host to Expo 2020, which is expected to attract nearly 25 million visitors from 180 nations. As companies prepare to set up their base in UAE, a number of visitors may eventually settle down in the country.
- Property Tax Waiver
It may come as a surprise but there are no hidden charges or property tax that is applicable for property purchase. The UAE Federal Government does not levy any tax on property. Hence, you only need to pay the registration fee to the land development authority and you are good to go.