With one of the fastest-growing real estate markets in the world, luxury properties in the UAE are in high demand — and for good reason.
When it comes to infrastructure and facilities provided to luxury clients, the advancements in the region are up to standard with some of the most magnificent capitals in the world. Besides, the prices in the area are highly competitive, especially when compared to comparable properties in other parts of the world.
As the UAE real estate market matures each year (as does the population), investors and luxury buyers conscious of the thriving locale are wisely joining the property ladder and purchasing property in developments such as The Fields Dubai.
There are numerous reasons that foreign investors are attracted to the UAE, including a diverse, expanding economy and investor-friendly government policies. Here are seven reasons why luxury UAE properties are exceptionally globally competitive.
1. Geographic location
Strategically positioned, the UAE is a necessary transit point, readily accessible from all major cities of the world. Visible in its GDP per capita, the UAE boasts one of the most advanced economies on the planet. In fact, it stands fifth in the world and, after Qatar and Kuwait, third in the Middle East.
2. Impressive infrastructure
In the UAE, infrastructure programmes are continuously initiated to ensure that the quality of all provided services lives up to the highest of international standards. For this reason, the UAE sports world-class infrastructure and facilities.
Additionally, the country is continuously advancing its transportation infrastructure. The US-based Hyperloop One is producing an expedited transportation route between Dubai and Abu Dhabi, which will enable passengers to move within the two emirates in pods at 1,200 kilometers per hour, or in about 12 minutes!
3. Free Zones
The various UAE free zones attract investors from all over the globe. One of the most significant incentives for investors to consider is the favorable tax environment in the UAE.
With tax-free rental income and no capital gains taxes levied on the sale of properties, it is safe to say that luxury UAE properties are globally competitive.
The low crime rate in the UAE ensures safety for everyone, including high net worth individuals. The sense of security is a significant advantage of buying property in the UAE. Do not worry if you accidentally leave your wallet or handbag visible in your car. It is highly unlikely to be stolen!
Politically, while many countries in the Middle Eastern region have gone through and are still going through political turmoil, the UAE remains one of the most stable countries in the MENA region.
5. Luxurious lifestyle
Known for its broad selection of gourmet restaurants, five-star hotels, remarkable shopping malls, stunning beaches and limitless entertainment options, the UAE keeps local and global tourism thriving. Furthermore, Emirates like Abu Dhabi, Fujairah and Dubai offer unparalleled experiences with luxurious spas, desert safaris, yacht communities, skydiving and water parks.
6. High-level technological advancement
Technology in the UAE is exceptionally advanced, and Dubai is on the fast track to becoming a smart city in a few years’ time.
Already home to the world’s tallest building (Burj Khalifa), Dubai has now announced another tower taller than the Burj as well. These innovative ideas introduced and launched by the government of Dubai show that purchasing luxury property in Dubai, and in the rest of the UAE, could be one of the best investment decisions you can make.
Speaking of the government, the UAE government frequently cooperates with property developers and financial institutions to guarantee maximum transparency in all dealings.
Over the last few years, continued diligence by the Dubai Land Department (DLD) and the reliable regulatory conditions directed by the Real Estate Regulatory Agency (RERA) have supported Dubai’s real estate market to become more sophisticated and transparent.
Thanks to the liberalization of many policies, the Emirates have inspired foreign individuals and companies to invest in and with them and to be a part of this remarkable growth process. For this reason, the actual buying and selling process in the UAE real estate market has been smooth on the whole.
The UAE has successfully established itself as a world-class nation whose leaders are firmly committed to its growth. The country continues to grow at a healthy pace, making it a fantastic prospect for long-term growth in almost every sector.
If you are looking to invest in a property market, Leasing & Management thinks the UAE should be your first choice. With this many pros, it’s really hard to think of a reason why you shouldn’t. You really don’t want to miss an opportunity like this. So if you don’t invest right now, everyone else will beat you to it!