Expatriates are buying up housing in Dubai as it ensures plenty of benefits. Property prices in Dubai have been on the rise in the past few quarters as market sentiment peaked, resulting in significant increases in sales and hence prices. In addition, Expo 2020 has given new impetus to demand. Many property hunters buy apartments in Dubai Marina and other central parts of the city; however, suburban options also attract more buyers with affordable prices.
According to the consulting company Asteco, prices in the real estate sales sector in Dubai have increased significantly, especially in the segment of villas. On average, this category’s quarterly and annual growth rates reached 9% and 37%, respectively.
Strong demand for villas also contributed to the growth in apartment sales, and although it was less significant, it still reached 6% in the third quarter of 2021 compared to the second quarter of 2021.
As property prices fell to their lowest levels during the pandemic, many UAE residents bought properties in Dubai to save on rent. And now they are in big gains in terms of capital appreciation of their homes, especially against the rising rent rates.
Working remotely in Dubai
Remote work which has become so popular during the pandemic allowed expats to work from another country. Dubai is strategically located so that it makes it convenient to arrange business meetings in London as well as in India.
Affordable housing prices
Some expatriates even buy several apartments in Dubai. As compared to other real estate markets around the world, home prices in Dubai are very reasonable. If you buy a house, for example, in Miami, you will have to pay much more money. In addition, you have the advantage of selling your purchased home at a higher price in the future.
Simple buying procedure
It is also worth noting that the whole process of buying a property in Dubai goes very smoothly because many procedures can be done online, which is not often the case in many other countries. A property transaction can be registered within half an hour. Dubai offers a very effective system in this regard.
Great investment opportunities
Buying real estate in Dubai opens up many prospects. One of the main reasons to acquire a property in Dubai is the high return on investment as the market is booming and property prices tend to rise. It is widely believed that investing in real estate anywhere in the world is one of the safest long-term investments. And in the case of Dubai, property values are relatively lower than in many other established markets, but rents are higher, so the return on investment is much more significant, especially when it comes to apartments.
To sum up, foreigners want to live and work in Dubai for a number of reasons such as regional and global connectivity, security, a high standard of living, tax-free income, a friendly policy for doing business, and so on.
Ax Capital will guide you through the very latest property deals and help you find your dream apartment in Dubai that will meet all your goals and needs. On our official website https://www.axcapital.ae/, you will find an extensive range of properties for sale in the best locations in Dubai with detailed descriptions and photos and our experienced real estate agents will walk you through the buying process. Visit our website for more detail.