In this article, I will be telling you about a very intriguing story of a father, “Rashid” and his son “Irfan”. Through their story, I will be conveying some of the most exquisite benefits that all potential investors will get once they will invest in the real estate market of Dubai.
Through this article, you will get to know some exceptional facts about the real estate market in the heart of the Emirates.
Rashid along with his son Irfan and other family members reside in one of the most vibrant cities, “Dubai, heart of the Emirates”.
Rashid is a flourishing and successful businessman, so his son Irfan was extremely eager to follow in his father’s footsteps as he strongly desires a secure future for his entire family by offering a luxuriant and comfortable lifestyle.
One day, Rashid, a well-experienced businessman, called Irfan into his study in order to share his knowledge and experience in the real estate market with him.
Rashid has already witnessed tremendous growth in Dubai's real estate market along with having good enough knowledge about investment and all the other significant factors concerning the property market.
As they were sitting together while sipping tea, Irfan’s father began his story. He told him about the early days when Dubai was merely a desert town, but through the efforts of some visionary and creative leaders with a proper strategy, well-informed decisions, and sensible investments were made.
As a result, this leads to a revolutionary transformation of Dubai real estate market into a global hub of trade and commerce.
The entire city experienced a swift development and created a remarkable opportunity for all the investors who were willing to take a chance.
"Irfan," his father said, "Investing in real estate is like planting a seed. With time, care, and patience, it grows into a strong and fruitful tree that eventually offers shade and strong support to all future generations."
Excited and Intrigued, Irfan leaned in closer with an eagerness to learn more and his father continued his statement, "Dubai's real estate market has flourished and attracted countless prospective investors from all around the world. Dubai has iconic landmarks, mind-blowing architecture, and a vibrant economy, all of which make it the most perfect destination for both residential and commercial properties."
As Rashid explained was explaining an extensive range of benefits of investing in Dubai real estate, He started sharing stories of those legendary individuals who invested wisely and reaped a great amount of profit.
Dubai, is a cosmopolitan city that people consider as their second home as they get one of the most luxuriant and tremendous real estate properties along with the most exquisite amenities.
This city has people coming from more than 200 different countries and residing, hence, the population here is increasing day by day.
Following are the benefits mentioned that all prospective investors as well as home buyers will obtain once they will invest in the real estate market of Dubai:
Dubai, UAE is already moving well on its way to becoming the smartest city in the world. You will always explore either a brand-new innovation or an upgraded version of existing architectural developments with regard to some of the biggest benefits of buying an ideal residential property in Dubai.
Dubai, located in the heart of the Emirates is a city where every day you get to witness innovation and development in all sectors, majorly in the real estate market.
Garden-fresh activities are happening all the time, which is the center of attraction for the masses
The tallest skyscraper i.e. Burj Khalifa is located in Downtown Dubai, the most popular location in Dubai. All magnificent high-rise buildings in Dubai are the epitome of countless innovative ideas initiated by the Dubai government.
Development is occurring at a rapid rate and you can also de-stress while enjoying your weekends spending your hard-earned money on yourself and your loved ones in all the high-end shopping centers.
Efforts of Dubai to make the lives of its investors and home buyers are never ending as they aim to offer an ultra-modern and unparalleled lifestyle.
How exactly does it happen?
Dubai Government constantly takes major actions that enhance the lifestyle of each individual living in the Emirates.
With a high level of dedication, they have implemented all their strategically driven innovative ideas for the benefit of the public.
A high level of security is one of the safest features that every investor and resident will appreciate. This factor is one of the major reasons among other aspects for all the interested investors to rely on the rules of the government and settle in Dubai in order to start a new life.
An incident like theft or robbery is something that is unheard and can be an important factor as to why it is considered some of the significant benefits for an individual to buy a residential development in Dubai.
Do you want to know how safe is Dubai?
According to a recent survey of the residents of Dubai:
- 95% of residents feel highly safe and secure while walking alone at night.
- Dubai is accounted to be the third safest city for all solo female travelers at any time of the day or night.
- 92% of people consider Dubai as one of the safest cities for conducting business meetings.
Dubai is the best bet for all potential investors because investment in the real estate sector of Dubai is much more beneficial as compared to other cities.
According to 2022 statistics, Dubai has yielded average rentals of 7% compared to other significant global real estates centers such as:
- New York (2.8%)
- Singapore (2.5%)
- London (2.6%)
- Hong Kong (2.3 %)
If you are interested in investing in a property in Dubai, then you should definitely go ahead as it will yield great rentals for you.
Dubai renders its residents, investors as well as tourists with unique escapades as the true essence of luxury that results in making Dubai best known for its tremendous and elite style of living.
The architectural beauty of Dubai is clearly seen through its intricate designs with regard to its interior as well as exterior.
The real estate market of this city is in a constant phase of immense growth that allows its end users to live a deluxe lifestyle.
The finest infrastructure, speedy developments, and swift progress in the economy are an embodiment of the tremendous growth Dubai is experiencing. You can manifest the positive aura of the picturesque beauty of the jaw-dropping surroundings and excellent amenities along with high-end services.
As Rashid explained to Irfan about a profitable rental income, magnificent lifestyle, progress, safety, and innovation, he made his son understand the level of financial stability and the possible capital appreciation one could attain.
(Capital appreciation determines the increase in the value of the investment over a particular period of time.)
"But, Father," Irfan interrupted, "How can I begin investing in the real estate market? I don't have a huge fortune."
To this, his father gave a pleasant smile and said, "Irfan, the most amazing feature of real estate investment in Dubai’s property is that it can be customized according to your preferences. You can begin investing in small, along with a modest apartment or a commercial space, if you are looking to start a business, and slowly work towards expanding your portfolio as you gain more experience and financial stability."
Following are some key features that reflect as major reasons to attract an extensive range of potential investors and buyers.
A. Tax-Free Investment
UAE is popularly known as a tax-free investment country. Though with the recent news regarding implementing a 9% corporation tax on business profits from June 2023, it is not going to touch anywhere near the following categories:
- Real estate and other investments
- Individuals who are personal income
- Incentives for companies falling into free-zone companies that are not into any kind of business with the mainland.
Also, you will have to pay the municipality fees as well as private community charges
B. Golden Visa relaxation
The government of UAE has announced a huge relaxation in the form of Golden visas .
What is Golden Visa?
It is a long-term visa that is used in case you reside, work, invest, do business, and began your own business in UAE.
What is the eligibility criteria for Golden Visa?
You will pass the eligibility range once you invest AED 2 million, the length of this visa is increased from 5 to 10 years.
C. Well-Regulated market
The property market of UAE is the most accelerated realty sector in the entire middle east. Currently, the market is in its booming phase.
With a property strategy of rules and regulations, the Dubai Land Department (DLD) has put its sincere efforts into regulating a high level of market transparency which means that everyone can see the data.
Dubai is now one of the most attractive countries for visitors, investors as well as home buyers from all around the globe.
D. Economic Growth
Dubai's real estate market and its total economic performance are related to each other. A firm economy is the essence of sustainable growth in the real estate market.
Economic benchmarks, Ongoing trends, and all the key features of Dubai have a great impact on its real estate sector that will guide all prospective investors and developers.
Now they can easily evaluate the market's capability to grow and recognize investment opportunities
The tourism sector contributes greatly to promoting the economy of Dubai as it is an important tourist destination, with Jebel Ali, which is the major port in the Middle East.
A constant rise in tourism has been witnessed due to which there is a vast increase in demand for hotel rooms, a tremendous rise in property prices, and generating amazingly new investment opportunities for numerous investors.
As far as the developers are concerned, they have taken a great amount of advantage of this opportunity by building brand-new luxuriant properties.
Dubai's tourism industry has lured countless visitors every year and with time, the number of people visiting Dubai has increased at a speedy rate.
E. Investment Opportunities
As Dubai's infrastructure is progressing, lots of new projects and developments are regularly coming on board that has become a wow factor for investors as well as visitors.
It is important to comprehend the positive effect of all such lavish projects on Dubai's real estate market. Due to this, investors can easily recognize the investment opportunities and risks related to it.
The real estate market of Dubai provides countless unique kinds of investment opportunities with regard to residential, commercial, hospitality, and retail.
Dubai is a live embodiment of a growing economy, powerful tourism industry, competitive prices, and top developers.
Here, you will be offered a highly secure, firm, and profitable investment opportunity for investors from all around the world.
F. Government Regulations
Dubai Government rules and regulations play an exceptionally vital role when it comes to the real estate market of Dubai.
Any kind of alterations to the rules, for instance, changes in foreign investment laws, will leave a huge impact on this market segment. Dubai's government has imposed some major regulations to form a firm and stable real estate market.
For instance, restrictions have been put with regard to how many properties can be purchased by a single person. Along with this, some important rules have been implemented to control the amount of financing acquired through real estate purchases.
G. Availability of Financing
Dubai has an extremely flexible and secure financing system that can lead to a rise in the demand for properties and affect the cost of borrowing money.
Any change that will be in the financing regulations and interest rates will also impact the market at a great level.
Availability of financing includes several financing options such as:
The above-mentioned financing options might be affected by the present economic conditions as well as the lender's risk tolerance
I hope you must have got inspired by now this amazing story of a father and his son, who aim to build a better along with safe future for their family.
Irfan’s father further motivated him to conduct detailed research and draw an analysis out of it, take advice from experts, and explore several financing options that are available while choosing the best flexible payment plan.
He highlighted the significance of choosing properties in the high-demanding areas that consist of immense potential for growth along with variegate the portfolio that will help in reducing maximum risks.
"With a righteous and a long-term perspective and not to forget, a well-disciplined approach," Rashid said, "you can always secure your family's future, provide for all their necessities, and create an inheritance that will last long."
With ideal guidance from his father, Irfan got highly motivated and begin his own journey on his own real estate investment journey.
He started doing detailed research, connected with all the authentic industry professionals, and assessed ongoing market trends. After a while, he made wise investments that generated high returns.
A few years later, when Irfan’s family assembled together, they were extremely proud of the benefits that were yielded by the entire family through real estate investments. At present, all the properties owned by them offer a steady rental income that is sufficient to maintain their standard of living and make sure they lead a comfortable future.
Irfan’s story gained immense success throughout Dubai which became a great motivation for others to explore the possibilities that is being offered by the city's most successful real estate market.
His story is a great lesson that with dedication, willpower, and knowledge will contribute to a well-informed decision. It will also help every single investor or home buyer to create a prosperous future.
This story will echo through the hearts and minds of all individuals who aim at building a better future for themselves or their families, starting with offering them a spark of hope and motivation.
