Dubai is now becoming a well-oiled machine. With new developments and government backed regulations and initiatives, Dubai witnessed global growth in its real estate market. In this blog, you will get to see the real factors affecting the Dubai Real Estate Market.
Real estate grows and drops in every market, what’s new about that? Something new about Dubai’s real estate market is its drastic and inevitable growth. But how is this possible? Yes, Dubai made it possible by opening gates for innovative developments and regulating its rules that allow every investor to contribute to Dubai’s development game. Hence, Dubai holds a strong and unbreakable property market.
Again a question arises!
How could just developments and government initiatives build a strong market value? It is a tough and valid question. But the answer is straightforward.
Here are some Factors Affecting the Dubai Real Estate Market
Dubai offers the best options to its people and visitors to invest and help in the development game. These best options are opportunities for investors to make a living in Dubai and eventually take this game forward assisting the economy of Dubai. That’s why we aren’t able to see any failures in this game. Let’s call these best options as factors that affect the Dubai real estate market. Scroll down to get a glimpse of those 7 factors affecting the Dubai real estate market.
Fast Growing Economy
Most of you might be thinking that Dubai’s economy is highly dependent on oil sectors. That’s indeed true! But apart from the oil sector, various other sectors are contributing to Dubai’s economy – IT industries, Processing and Manufacturing industries, Real Estate, Small Scale Businesses, Transport, Finances, Renewable Energy, and Tourism to name a few.
Increase In Employment Opportunities
As said before, Dubai openly welcomes global investors to start businesses and this gives a lot of employment opportunities for Dubai’s population. In the last few years, Dubai incredibly collaborated with top investors planning mega projects like Public Parks, Skyscrapers, Highways and Bridges, Man-made Islands, Huge Malls, and top-grade Residential Properties.
Government Regulation and Tax Benefits
Needless to say, the UAE government structures and launches new policies that enable it to increase the economy in Dubai. 0% tax on personal income; one of the common and well-known policies. This is for property buyers – no annual property tax on residential or commercial properties. But be aware that you would be required to pay an additional charge before buying a property. This one is for aspirants and students looking forward to settling down in Dubai – the country offers a wide variety of Visa schemes allowing individuals to pursue education and careers and ultimately live in the UAE.
Huge Population Growth
As we go further, getting to know about the facilities for work, studies, lifestyle, tax, and government regulations, who would say NO to such an amazing Life In Dubai?
Thus, Dubai welcomes a lot of aspirants to visit and stay in Dubai, and start their careers which eventually fulfills the employment needs of the investors who started their business in Dubai. And so an increase in population happens automatically. Looks like everything is interlinked and strongly connected!
Highly Fueled Tourism Sectors
Huge and eye-catching sites in Dubai are not just for display, they are also for tourists to enjoy and spend their money in the Dubai market. Aiming to achieve, the ‘We The UAE 2031’ vision, Dubai focuses on sectors of high interest with clear measurable goals. Tourism is one such sector that grabs the most attention in the UAE and has become one of the major factors affecting the Dubai real estate market.
Massive infrastructure Development
Good infrastructure is another factor affecting the Dubai real estate market as it welcomes quality individuals to start their lives and build careers in Dubai. Ultimately, for any man or woman, a good space with lots of facilities will automatically become the best place to reside and spend a quality life. The urban cities are structured in such a way that it helps working professionals and residents access all the necessary basic demands.
Low Interest Rates
Loan taxes and interest rates are reasonably lower allowing individuals to take long-term commitments to investing in real estate markets. This increases stability in the UAE real estate market. Such a vibrant market attracts investors around the globe eventually increasing the economy of Dubai.
Are you the next person in line looking to invest in the Dubai real estate market?
Then these factors will surely help you a lot in making a perfect decision on your investment plans. To know more about the facilities and real estate benefits in Dubai, reach out to our team. We are pleased to guide you through your investment terms and plans.
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