BENEFITS OF BUYING AN APARTMENT IN DUBAI

Owning a home one day is a dream of everyone. It can be said that people save money to buy a property for themselves where they can live their dream life with their family. Therefore, when buying a property, you should be very careful because you can’t afford to give away all your savings by one wrong step.

If you are living in Dubai and are looking to own a property you can consider yourself lucky as the Dubai property market is on a boom. Today Dubai is the most preferred option to own the house of your dreams because of the facilities that are provided by the Government. In current days you can find a good furnished flat for sale in Dubai where you can live peacefully. If you are a foreign national and looking forward to buying a apartment in Dubai, the good news is due to the government policies you can get the opportunity to own a piece of land with ease.

To help you decide before buying a apartment in Dubai we have listed down some of its benefits which you must know whether you are a local or you are an expat chasing your dreams in the city of gold.

Economic growth:

The economy of the United Arab Emirates is growing with every passing day. The rising economy has made Dubai the center of attraction for investors around the world. Today there are many projects already built and are under construction where you can get a 1 bedroom apartment for sale in Dubai or with multiple bedrooms according to your needs. The economic growth is a result of Governments’ efforts to make Dubai the center for business in the world as many benefits are being provided to investors such as tax exemption etc. If you are buying a flat for sale in Dubai for investment purposes, the good news is you can get good returns due to the constant economic growth in the long run.

Top-notch Safety and Security:

It won’t be wrong to say Dubai is the safest city these days. The Government of the United Arab Emirates pays a lot of attention to the security of the local as well as foreign residents. If you are looking for Dubai apartments for sale you should not be concerned about safety and security. The Dubai Police department meets with strict force and action against those who violate the laws. Such policies have made Dubai the safest city in the region. Therefore, you can buy a apartment in Dubai for personal needs or investment needs without any hassle.

Government’s Initiatives:

The Government under the visionary leadership of Sheikh Hamdan bin Al Maktoum stands committed to providing the residents of Dubai city with every facility that makes their lives better. The government has aimed for making Dubai a center for business investment therefore if you are going to buy a flat for sale in Dubai, you can earn a good amount of money if you decide to sell it in the long run. While if you are buying an apartment for personal needs you can benefit from the policies as the Government of the United Arab Emirates has aimed to make Dubai a happy club for the residents.

Expo 2020:

Today Dubai Expo is the talk of the town. The investors are looking towards Dubai with keen eyes, as Dubai has become a fruitful location for investment purposes. It is expected, that the expo 2020 will contribute a massive sum of AED 122 billion to UAE’s economy. Buying an apartment in Dubai during the expo 2020 means you can rent it out to the millions of guests coming to Dubai and earn a good amount of money. While on the other hand, it is a good time to buy apartments in Dubai as once the projects that are under construction are ready the flat prices will rise.

Return on Investment:

The real estate market of Dubai is on a rise with every passing day and has become a mature market now. It is suggested to own an apartment instead of paying a hefty amount of rent every month. Owning an apartment means you can sell it off and earn good amounts of return on your investment in the future as the Dubai property market is on a rise. While on the other hand, if you plan to rent out your owned apartment instead of selling it you can set a good amount of cashflows every month as Dubai offers a minimum rental yield of 5%, which is a good percent if compared to rental yields of other cities around the world. You can easily find a furnished 1 bedroom apartment for sale in Dubai or with multiple bedrooms in the top localities of the city. You can consult real estate companies operating in the city to find out the current property prices in Dubai.

Annual Property Tax:

Last but not least, you do not have to pay annual property taxes when you own an apartment in Dubai. In many cities across the world, you have to pay the yearly tax but, in Dubai, if you have paid the registration fees no additional taxes will be charged so you can stay carefree. It is one of the major benefits you can get when you are looking forward to buying a property in Dubai.

To sum up:

The Dubai property market is on a rise therefore it is the right time to invest your money in buying an apartment in the city. With the above-mentioned benefits of owning a flat in Dubai, you can earn a good amount of returns on your investment, while if you are buying an apartment for yourself and your family you can benefit from the policies of the UAE’s Government. While it is suggested to consult experts in the property market to avoid any hassle as you will never want to give away your savings. Inspire Real Estate is one of the leading names in the property circle of Dubai whom you can consult before investing your money. As experts at Inspire real Estate are known for giving the best advice to people and helping them in owning the property of their dreams.