As a high-profile multicultural city, Dubai continues to attract many visitors from around the world whether for business or leisure. With so many interesting laws set by the government, and developers’ amazing offers alongside flexible payment plans, foreign investors comprise 20% of the Dubai property ownership real estate market. The lockdown in the past two years, then, the World Expo 2020, have also fueled Dubai’s booming property investment market.

There are many properties for sales in Dubai, but before venturing in any real estate investments, read on about some facts you must know so that you can make the best decision based on your needs, finances and plans.

1- Registered Agent

You may be tempted to opt for a freelance broker, but you must be aware that in case of any potential issues in the transaction, you do not have any legal recourse against them and cannot claim your rights. For this reason, you would be better off working with a licensed agent, certified by the Real Estate Regulatory Agency and specializing in the real estate market, to make sure your rights are protected by the law. Do not hesitate to ask for their official papers. One cannot be cautious enough!

2- Dubai Hotspots:

Although property projects are mushrooming all over the city, there are certain neighborhoods that are highly sought-after by investors and buyers in general, as they can greatly influence the ROI given their excellent location. That is why you must invest in a location that simultaneously offers safety, comfortable amenities, proximity to schools and main roads, parks or gardens, etc. It goes without saying that DUBAILAND is the best place to invest in Dubai, since this community has a lot to offer. Considered as a city within the city, DUBAILAND is home to several luxurious residential projects by Dubai Properties such as Mudon Al Ranim, Villanova Villas, Remraam etc., that are tailor-made to offer buyers what they are looking for in terms of architectural design and style, family-friendly amenities and a large number of facilities, including a convenient location, only 25 minutes from the airport and with easy access to Downtown Dubai.

3- Optimized ROI

Obviously, investing implies getting a good return on investment. It is definitely a great time to buy a property in Dubai as rental returns on properties are among the highest in the world, ringing in at 10%, while in London it is only 3%. Investors planning to make a steady investment with attractive property prices and payment plans can invest in a buy-to-let property in Dubai and get a ROI of 5% to 6% for ready properties. Great rental yields can be generated out of a lucrative smart investment as more and more visitors, coming frequently to Dubai or staying up more than one month, prefer a short-term rent, for a homely and authentic travel experience.

4- Immediate Residency:

Since the new initiative launched by the government such as residency permits for retirees and remote workers, investors in residential properties in Dubai can get legal residency in the city. Besides, the expansion of the 10-year Golden Visa program aims to attract more investors and entrepreneurs. It is worth mentioning though that the foreigners must invest in a single freehold residential property only and not in commercial properties. The 10-year visa can be maintained for as long as the investor owns property in the country. Undoubtedly, being eligible for a UAE Residence Visa increases benefits for property investors, not to mention that the process is hassle-free and is concluded in only two weeks. The Golden Visa offers many advantages to residents such as being able to open a bank account, get a driver’s license and register your car in Dubai, in addition to many other benefits for all family members.

5- Encouraging Investment Laws:

The main reason behind the flourishing Dubai real estate market is the low tax rate, high quality of properties, favorable property regulations and reliable infrastructure, all that topped by a new mortgage law designed to encourage more foreign investment. Although very attractive, there is a mortgage limit. This means that first-time buyers in the UAE can currently enjoy a mortgage cap of 80%, with a minimum deposit of 20%. This rate rises up to 40% for those buying a second home or a property valued at more than AED 5 million.

Another good way to secure a unit is to buy an off-plan property, which allows for a lower down payment amounting to only 10%, with instalments from 40% up to 60% over the following two years. A loan on handover for the remaining amount is then possible.

As its economy enjoys a global trust, Dubai is certainly the perfect place to invest in a property now.