Since the beginning of its development, Dubai has been a family-friendly city. Every community in Dubai is well designed and planned. In every society, you will find public parks, supermarkets, leisure spots, nearby shopping malls and cinemas, etc.
Dubai knows how to keep its streets and communities clean all the time. For instance, thousands of people use public transport on New Year’s Eve, and all gather in downtown Dubai to witness the biggest fireworks show from the tallest building in the world, aka Burj Khalifa. You won’t find a single piece of tissue paper on the streets in the morning.
Dubai has excellent healthcare, educational and recreational facilities. There are a widespread network of medical centres, public and private hospitals, and the city also boasts the best schools and colleges, as well as major international universities that have established their campuses there.
All major communities in Dubai are well connected and covered with the public transportation network. The main commuter service is the Dubai Metro, a driverless train/tube service.
Dubai is no doubt one of the most secure cities in the world. Dubai police are famous for their law and order maintaining skills, and due to strict regulations, Dubai is also very safe from outside threats.
Buying Property As A Holiday Home
Holiday homes make up a thriving property market in Dubai. The favourite destinations for these are Palm Jumeirah, Dubai Marina, Jumeirah Beach Residence and downtown Dubai (Burj Khalifa district). Buying a holiday home in Dubai comes with many perks:
Get A Resident Visa
One of the benefits of buying property in Dubai is that you can get a resident visa. The property value should be equal to or above Dh 1 million to qualify for UAE resident visa. If you are a frequent visitor to Dubai, having your resident visa is very beneficial as it allows you unlimited entries and exits from UAE until its expiration date. The permit can be renewed at the time of expiration.
No Tax On Your Property
Property investors don’t pay government taxes on that property. So you are not compelled to rent your property to cover that expense, and it can be available to you every time you visit Dubai.
Sunny All Year Round
Dubai’s weather is sunny most of the year, with a few days of rain. The sunny beaches of Dubai are usually within walking distance of your property and are a great source of leisure.
Lots Of Activities
Dubai has the world’s largest shopping mall (Dubai Mall), and the tallest building (Burj Khalifa), as well as countless other attractions. The city also has a buzzing nightlife. You can go for night safaris or hit any nightclub of your choice.
Buying Property As An Investment
This is the biggest reason why people buy property in Dubai or any other part of the world. Buying property in Dubai secures your future. It is the best way to park your funds and let them grow while you enjoy the benefits of yearly rental income should you choose to rent your property.
No Property Tax
The absence of property tax is the single most significant benefit of buying a property in Dubai. Let’s say you have USD 500 000 to invest in real estate. If you were to purchase a property in Hong Kong, the tax rate would be 15% of the purchase value, 13% in Singapore, 2.33% in London and 2.21% in New York.
Dubai offers higher rental yields: None of the major cities (London, New York, Hong Kong, Singapore) come close to the rental yield offered by Dubai. According to the Global Property Guide, Hong Kong offers just 2.82% return on your investment. Singapore has an average rental yield of 2.83%, London comes at number three with a rental yield of 3.21%, and New York offers an average rental yield of 3.91%. Dubai is number one, with a conservative average rental yield of 5.82%. In certain areas of Dubai, the rental yield goes above 10%.