More and more people are considering real estate in Dubai as an opportunity for permanent residence, vacation or profitable investment. One of the most pressing issues is the cost of apartments in Dubai.
Dubai is a high-density city in the United Arab Emirates, known for its impressive skyscrapers and prestigious shopping and entertainment centres. The economy here is thriving and the business climate is very favourable.
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The city is considered one of the safest in the world, making it an attractive place to relocate. Purchasing real estate worth $205,000 allows you to obtain a three-year resident visa, which can be extended. It is worth noting that a residence permit is also granted to family members: spouse and children.
The taxation system in this region is very beneficial for investors, there are no taxes on personal income.
This means that profits from dividends and rentals are not taxed. In addition, Dubai is a free economic zone, which makes it an attractive place for business. The purchase of real estate also entitles you to obtain a business licence for a period of three years, renewable.
In Dubai, prices for apartments depend on many factors: the readiness of the property for use, its location, area, reputation of the residential complex, number of bedrooms and even the view from the window.
Real estate in Dubai can be divided into three categories:
If you want to buy an apartment in Dubai at an affordable price, consider the economy class complexes that are still under construction.
If you want to find out how much an apartment in Dubai costs, you should decide which class of real estate is suitable for you. Average prices for apartments in the city are:
– Apartments in Dubai Economy class: from 10,700 AED per 1 square metre ($2,800 per 1 m2).
– Apartments in Dubai Comfort class: from 23,100 AED per 1 square metre ($6,100 per 1 m2).
– Apartments in Dubai Elite class: from 39,600 AED per 1 square metre ($10,450 per 1 m2).
If you’re looking for affordable housing in Dubai, check out Se7en City, Maison de Ville Celestia, Collective and Reva Residence.
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Renting out apartments and villas is a simple and effective way to generate income from real estate in Dubai, with the possibility of receiving up to 15% per annum. Short-term rentals are especially attractive during major world events in the city, such as EXPO, an international showcase of technological developments, or MedLab, a demonstration of medical laboratory equipment. This is a great way to make money from real estate in Dubai.
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Property values in Dubai continue to rise thanks to the constant influx of tourists, businessmen and investors. This is confirmed by data and observations. In this regard, the return on investment in real estate in Dubai ranges from 10 to 15 years, which is significantly shorter than in other cities in the world.
