Interesting and Amazing Facts about Dubai Real Estate

UAE depends upon real estate which acts as its backbone as far as the economy is concerned. Dubai has used massive skyscrapers and encapsulating architectural marvels to its advantage. Today, the city has transformed into an international business hub giving reasons to people about why invest in Dubai real estate. In this blog, we will give you information regarding interesting facts about Dubai real estate that everyone wants to know about. Those who come to Dubai for business or job purposes also have increased demand for property. At the same time, they also come to know the reality behind what is real estate in Dubai. This is why we are here to share interesting and amazing facts regarding facts about Dubai real estate that are not very well known by the people. 

Interesting facts about Dubai Real Estate

Before we provide insight into what real estate is in Dubai, we will give details about lesser-known facts about Dubai real estate. The leading industry may vary from one country to another from manufacturing, livestock, or agriculture. The real estate industry in UAE is ranked among the industries that are known for their fast growth rate. And this is the reason why it is one of the major contributors to a booming economy. Thus, while we are about to discuss facts about Dubai real estate, we cannot ignore the role it has played in ensuring Dubai gets unmatched success.

People are amazed by this architectural spectacle and call Dubai a futuristic city. In these interesting facts about Dubai, we will state some of the benefits of living in the city. Not only Dubai is known for class-apart sights and scenes, but also offers intriguing offers such as return on investment. Hence, if you want to know more about what is real estate in Dubai, then stay tuned. Furthermore, several other aspects tempt any person to come to Dubai. This is the reason why investing in Dubai real estate is always on the cards for investors and visitors. So, following are some of the interesting facts about Dubai, given below: 

1. One of the key facts about Dubai Real Estate is that the apartment prices per sq. ft. in Palm Jumeirah are 50% less. On the other hand, the apartment prices per sq. ft. in Downtown Dubai are comparatively higher. Thus, people searching for them on the Internet exactly know when and why invest in Dubai real estate.

2. The cost of a villa in the Palm is worth AED 20 million featuring a beautiful lifestyle and views. Thus, in the real estate industry in UAE, things like these are worth an investment and do not come cheap. Its average price per sq. ft. is AED 3,117, whereas its average size stands at 6,447 sq. ft.

3. The reason why invest in Dubai real estate is because the city offers value for people and money. Hence, you can get a studio in Dubai land for AED 800,000 but also get a similar one for AED 300,000. Therefore, it is also one of the key facts about Dubai real estate that tempts the investor to go for something better. 

4. With the absence of property tax in Dubai, everyone wants to become a part of the real estate industry in UAE. The assets do not have levied taxes; hence, it is easier for people to buy villas and properties. 

Reasons Why Invest in Dubai Real Estate

1. Low Acquisition Cost

The first reason why invest in Dubai real estate is because of its low acquisition cost. Having a higher cost of acquisition repels both the investors and buyers. This is why the real estate industry in UAE has focused on keeping the cost of acquisition low. When comparing the rate with other global economies Dubai is successful because it offers cost-effectiveness to its investors and customers. 

2. High Rental Returns

Another key fact about Dubai real estate is that it offers high rental returns while determining the value of the property. Over the years, the population of expatriates has exploded in Dubai, and thus, the demand for the city continues to be on the rise. This is what is real estate in Dubai all about. The rental income continues to rise since people are expected to become a part of Dubai’s atmosphere in large numbers. 

3. Population Growth

The third important fact about Dubai real estate is the growth of population. Here you can find mostly non-native people and that has led to constant growth. One of the major reasons for the boom in the real estate industry in UAE is due to the non-resident population. It is reported that there has been an 86% rise in population from 2008 to 2018. Here you can find citizens of more than 200 different cities of the world. Hence, if you are wondering about the turning point of what is real estate in Dubai, this is the point that led to a significant boom. Therefore, today, it has a diverse audience and hence it is one of the reasons why invest in Dubai real estate.

4. Dubai Real Estate Facts – Better ROI

Are you still wondering why invest in Dubai real estate? The population influx in Dubai has made it one of the most sought-after destinations throughout the world. It features all the futuristic amenities and facilities that you can imagine. This is the reason why people look forward to investing in Dubai real estate in some way, shape, or form. Thus, as compared to other metro cities of the world, Dubai has the added advantage of providing better ROI. These are both for rental and personal purposes. 

5. Get A Residence Visa by Buying Property

Another interesting fact about interesting facts about Dubai real estate is that you can get a residence visa by buying property. This is something that is considered unbelievable yet it does happen in Dubai. You can opt for a property visa investment in Dubai and can live in the country’s seven emirates. Please note that the validity of a Dubai resident visa is for 10 years. There are many benefits to becoming a part of what is real estate in Dubai. These include opening a bank account, getting a driver’s license, and reserving a car. 

6. Leasehold and Freehold Areas in Dubai

Another important and interesting fact about Dubai real estate is that whether you are a foreigner or a local, you can buy the property. For this purpose, the government has categorized the property into leasehold and freehold categories. While leasehold properties are only for local populations, freehold population on the other hand is for both the locals and foreigners. Leasehold and freehold properties in Dubai can help you differentiate between the two. 

7. Dubai: The World’s First Climate-controlled City

Dubai has focused on becoming the world’s first climate-controlled city of the world. This is another interesting fact about Dubai real estate. They want to plan of city measuring 48 million sq. ft. city, which features, an entertainment center with a capacity of 15000 people, apartment complexes, around 100 hotels, and the world’s largest indoor amusement park. This was revealed as the model of the city and may boost the real estate industry in UAE.

8. No Property Tax in Dubai

Having no property tax gives Dubai an advantage as compared to other global economies. This is yet another interesting fact about Dubai real estate that everyone looks forward to. In several countries, paying property tax is considered as an additional expense. But this is what makes Dubai different from the rest, offering leverage of a no-tax policy for their citizens.  

9. Dubai: Centre of Worldwide Events

Annually, Dubai has become the center of events and ceremonies and one of the key facts about Dubai real estate. Whether you want to witness major auto events, global conferences, cricketing events and matches, world expos, or anything else. This is the reason why the real estate industry in the UAE is booming. Therefore, for those who have questions regarding why invest in Dubai real estate, this is the perfect answer. You can have people from all over the world enjoy their favorite events of their choice. 

10. Serene and Safe

As compared to the people from other parts of the world, Dubai boasts about safety and serenity. This is last in the list of facts about Dubai real estate. The protection and the sense of belonging propels you to extend your business and stay in Dubai as your profits continue to grow. But focus on reaping the benefits later, rather than focusing on why invest in Dubai real estate.

Conclusion

This blog is dedicated to providing detailed insights regarding facts about Dubai real estate. Over the years, the city has witnessed cutting-edge developments and has also featured a lot of surprises. There are several other things that you can lay your eyes on besides Burj Khalifa. People think of a log of factors to consider. These include returns, feasibility, and security when you are confused about why invest in Dubai real estate.