Expo 2020 is coming here
One of the first reasons as to why you should buy a property in Dubai is because of the Expo 2020. This is the next edition of the World Expo, one of the most well-known events in the globe. It is supposed to draw in around 25 million people from as many as 180 countries. The announcement that the Expo would be held in Dubai has already helped the off-plan property sector do well. Investors who are buying properties located near to the venue for the said event are expected to get significant returns on their investment. The Expo will be held over a period of six months.
This also means that there would be millions of people who would come in and want to rent the property at that time. This would also imply that there would be high demand for rent and this way as a landlord you would be in a better position to maneuver the rates as well.
It is looking to become the happiest city in the world
It was in 2016 that Dubai formed a ministry named the Ministry of Happiness. The main responsibility of this ministry was to come up with programs as well as policies that could play a crucial role in improving the levels of happiness among people living in Dubai.
You would get excellent returns on investment
The real estate market of Dubai is getting better even as the city’s population is increasing. This has become a yearly trend almost. Even the investors are also aware that the growing population is quite wise when it comes to purchasing property in order to keep up with the increase in demand for rent.
The tourism industry here is booming
An important part of the economy of Dubai is its tourism. The city is full of tourist places to visit. The other important sectors, in this case, are trade, various industries, and business services.
The fact that new real estate projects and accommodation facilities such as hotels are being erected means that the city’s tourism industry is thriving.
It has the Museum of the Future
One of the greatest tourist attractions of Dubai is the Museum of the Future. Here you are able to see what lies ahead by way of the latest and the best simulations as well as exhibits that happen to be interactive in nature. The museum also has other attractions such as scientific conferences. Apart from that, it provides high-level courses on the latest trends and achievements in science.
The museum is expected to emphasize on solutions to the most critical challenges that are facing humankind right now as a result of the climate change all around the world. These three challenges are water supply, cities that are self-sufficient, and food security.
The low rate of crime
One of the major advantages that you feel as a property owner in Dubai is the absolutely low rate of crime. The likelihood of minor crimes too is really less. Even if you have left your wallet in your car and that too in quite an evident manner you need not worry because the likelihood that it would be stolen is pretty less.
The Dubai Statistics Centre has recently announced that compared to its population of 2.4 million people in January 2016 Dubai would have 5.2 million people by 2030.
High-class routes for transportation
Dubai is one city that is always looking to get better with regards to the infrastructure that it has in place for transportation. Hyperloop One, an organization based in the United States of America (USA) is right now building a quicker route of transportation between Dubai and Abu Dhabi. This is going to be the first working system to be built by the company in the world. As and when this system gets operational, people would be able to travel between the cities in pods that are expected to travel at speeds of 1200 km per hour.
This also means that as and when this project is up and running you would be able to travel between Dubai and Abu Dhabi in just 12 minutes. As unbelievable as it may sound it is true indeed. As per the estimates of Hyperloop One, there would be around 4000 such pods traveling between Dubai and Abu Dhabi on a regular basis.
There are no yearly property taxes over here
The biggest benefit of investing in the real estate market of Dubai is that you do not need to pay any taxes for the same.
This includes the residential properties as well as their commercial counterparts. This means that once you buy a property over here you would not need to pay any extra taxes for the same.
Some other considerations to be taken into account
You also need to take into account in this particular context that the population of Dubai is growing and this is the reason why so many property projects are being launched over here with such ridiculous frequency.
The Dubai Statistics Centre has recently announced that compared to its population of 2.4 million people in January 2016 Dubai would have 5.2 million people by 2030. Dubai also happens to be a tourist’s delight as it offers a touring experience unlike any other in the world.
You have the following over here:
• Desert safaris
• Yacht communities
• Water parks
There are different regions in the city that offer various kinds of gourmet experiences that no one would want to miss out on. So, there is money to be made in this regard as well.
Article written by guest Sarah Bennett, Content Specialist from HolidayFactors.com