Despite the inconsistent nature of the real estate market, it is always advised to purchase a property when it comes to increasing your savings. After the world is getting disturbance from COVID-19 upheaval, you must be enthusiastic that the real estate sector is flourishing across the globe and swarming with profitable opportunities. It means it is a perfect time than ever to invest in properties in steady real estate markets. Dubai exists in the world’s top 5 cities to purchase a second home. The introduction of new developments in the city, like Six Senses Dubai Residences, is attracting investors to Dubai globally.
Dubai, United Arab Emirates:
As per a fresh Relocation Report compiled by Money.co.uk, Dubai and Abu Dhabi have been involved in the list of top 5 cities in the world to buy a second home. With Dubai property market rebounding, and work from home scenario, moving to any place of your choice seems promising more than ever before. Dubai is ranked 4th in the list of the best cities around the globe to transfer. The UAE government announced and made sure to execute investors’ protection laws. Dubai’s real estate market has always been a favorite investment spot for wealthy investors. The latest luxury projects in Dubai are attracting investors globally, such as luxury apartments in W Residences Downtown Dubai.
With development taking place at a faster step, new growths are being brought, and now the market is encouraged by the impression of Expo 2020. We can say that possessing a property in Dubai is a better decision in the long run than renting. Moreover, Dubai properties also offer a good ROI in terms of rental amounts year on year. There are abundant developments offering luxury properties in Dubai like W Residences Downtown Dubai, properties Dubai Marina, Jumeirah Village Circle, and Six Senses Dubai Palm Jumeirah.
Why is Dubai is in the top 5 cities of the world to buy a second home?
A New City to Connect the World:
The choice of Dubai to host the Expo 2020 is a festivity of the most significant UAE’s power in diversity, infrastructure, and stability. These qualities are improving because of the UAE’s ideal position, linking three continents, Europe, Asia, and Africa. With Dubai traditionally called Al Wasl, or the association, it makes perfect sense that the theme of this Expo 2020 is to create the future.
Successful Handling of the Pandemic:
In numerous ways, the real attraction of Dubai is the way it is working. The implementation of its rulers and the UAE government has guaranteed that the city remains continually captivating for investors. Buoyed by a rebound in tourism and a quick supply of vaccines, business activities in Dubai are fast. An incredible 80% of the qualified population taken vaccination during 2021. Experts say the defensive measures to cover the coronavirus pandemic are noteworthy factors that helped enhanced the country’s figure as a safe travel destination. Dubai is introducing a new residential project, Six Senses Dubai will offer luxurious villas, penthouses, and signature villas.
100% Ownership and Golden Visa Programs:
Dubai now permits 100% ownership of businesses without a local partner. Also, the Golden Visa program has been an absolute magnet for candidates of UAE residency. These recently publicized policies have caused an increase in entrepreneurial and investment happenings in Dubai. The change due to these policies replicates in the rental property market, as both the demand and values are observing substantial progress this year.
Dubai deals rental yields of 6-10% disregarded even in numerous mature markets. Accordingly, 1 million USD can purchase expressively more real estate space in Dubai as compared to the most cosmopolitan cities like Mumbai, Shanghai, London, and Singapore. Dubai’s property market is extremely regulated. Investors are safe by a firmly implemented Real Estate regulation Authority. The developers are responsible for giving substantial comfort to real estate investors.
High Standard of Living:
The lifestyle in Dubai is luxurious. Moreover, Dubai is not only about malls and towers. Dubai has all the events you can think of year-round, from diving, skiing, snowboarding, biking, golfing, fishing, sailing, windsurfing, desert activities, and water sports.
Dubai has the infrastructure that we can expect from a business hub. The government has announced free zones that function as hubs for Jebel Ali and Media City businesses to entice foreign entrepreneurs. Moreover, the new project Six Senses Dubai Residences will be an iconic infrastructure with a luxurious lifestyle and amenities.
If you are searching for an apartment or villa in Dubai make sure to contact Fam Properties and have all your real estate queries answered.