The United Arab Emirates is one of the most popular destinations for foreign investors. Most prefer real estate in Dubai, the most actively developing emirate. In the metropolis, there are over 60 free zones in which foreigners can own housing stock on the right of full ownership.
Real estate market in Dubai in 2022
The real estate dubai is booming and has almost peaked in the past decade. In the third quarter of 2022 alone, the number of transactions increased by 40% compared to 2021. Prices are rising and analysts believe that the situation will not change in the near future. That’s why it’s worth investing in real estate with Limitless Valley. Here you can choose from real estate both for investment and for ordinary life. The main advantage – real estate is sold only from the developer. Without intermediaries and inflated prices. For more information, you can contact us through our website, email or just a call.
What areas are available for investment and life?
- Maryam Island
- Aljada, Ras Al Khor
- Al Barsha, Deira
- Business Bay
- Downtown Dubai
- Dubai Marina
- Damac HILLS
- Palm Jumeirah
- AKOYA Oxygen
- Jumeirah Lake Towers
Foreign buyers show the greatest interest in housing by the sea. Not only apartments are actively bought. Villas for sale in Dubai are also in high demand. At the same time, the number of free locations for development is decreasing year by year. Most likely, in a few years it will be simply impossible to find a house under construction by the sea, so such investments are the most profitable.
Profitable investment in apartments in Dubai
Investing in property for sale in Dubai helps keep funds from inflation. Investments have a number of advantages:
- high profitability ratio, reaching 7-8%;
- the possibility of remote management – for renting out housing, you do not need to live in the UAE;
- a wide range of objects, focused on different amounts of investments;
- no taxes on income;
- loyal visa policy.
The possibility of obtaining a residence permit for the purchase of real estate in Dubai
This is another reason to choose an apartment for sale in Dubai. Owners of housing stock worth $204,000 or more can apply for a three-year visa.
Buyers of objects with a price of 547 thousand dollars have the opportunity to obtain a ten-year visa. While maintaining the ownership of the property, these visas can be repeatedly extended.
The state of the real estate market in Dubai
Gone are the days when the UAE’s economy depended more on oil. The largest jump in housing stock prices was observed between 2002 and 2008, when apartments and houses almost quadrupled in price. The global crisis forced them to fall again and the recovery period fell only in 2013-2014. It is with this peak that the situation in 2021-2022 is compared, when the growth in demand caused a significant rise in real estate prices. Only in February of this year, apartments have already risen in price by 25.5%, and villas by 15.5% compared to the same period last year.
Why buy an apartment or house in Dubai right now
The city is attractive due to several aspects:
- Advantageous territorial location at the crossroads of Europe, Asia and Africa, ensuring successful business.
- Developed and continuing to develop infrastructure.
- Unique taxation system. In the UAE, you can legally own real estate, make a profit from renting it out and not lose income due to the need to pay taxes.
When choosing an area for buying a villa, it is important to understand that many low-rise residential complexes with houses in the middle price range are located at some distance from the city center and the sea coast. Usually from such areas you can get to the city center or to the beaches by car in 20-30 minutes. However, residents often have all the necessary infrastructure facilities within easy reach. They are located either in the cottage village itself or in neighboring areas (within a 15-minute drive).
The cost of premium villas located in the central communities of the emirate or near the sea will be significantly higher than those in more remote areas. At the same time, residents of elite villas can walk to the beaches, central malls, business complexes and other popular objects.