From 1990, Dubai came into the limelight of the media due to supremacy in oil business. It is called the power oil repository of the industry and we all know what the effect of the oil is in our day to day life. So, you can easily understand the power of the city. To give an example, Dubai holds 1/4th market cap of the oil industry. This will help you understand the relevance the above statement.
In the last several decades, it was considered as one of the economies known for its poverty, but with the discovery of the oil, its fate changes completely. Now it is considered as the most powerful nation (UAE) because most of the world’s rich people belong to this city, especially the Sheikh family. They are considered as the most powerful family across the world, owning most of the premium clubs and businesses across the globe.
As the economic activities started increasing, the demand for properties also increased and this made it an interesting place to invest in real estate. And it has one unique business-friendly policy – whoever wants to do business in this country will have to pay one-time tax. If a businessman is paying onetime tax then there will be no other tax applicable.
Dubai is known for its unique real estate because it’s artificial land, which has hotels, residential places and moreover the unique feature is that the place can be seen from the moon. This place is known for having cruises and yachts, which belong to the most famous celebrities of Hollywood and renowned businessmen.
Till 2007, it was one of the highest demanded places for the properties in the region. For this, the rental income was around 8-10%, which was too high, but after the economic recession, the economic activities started improving and so demand is also starting to pick up. If you are interested in property investment, then do invest now as the property price is now lesser than the real valuation, which makes it attractive because you will not only earn from the rental but also from the increasing valuation of the property.
Dubai’s rising status in the world in terms of the global economic capital, investment and tourism are creating opportunities for businesses and professionals – this throws another reason to buy a property. This is playing as the bridge between the west and the east, which has all sorts of capabilities and infrastructure.
So, buy and wait to see your investment appreciate.