Property in Dubai

Now you will not surprise anyone by moving to another country. And if earlier the countries of Europe and the USA were the most popular for moving, now many are discovering new directions. More and more people are choosing the United Arab Emirates, but Dubai is especially popular here. Lots of people mention the prices apartments in Dubai as one of the reasons. Let us have  a look at 7 more reasons why you should consider moving there.

Safety

Dubai is among the safest cities in the world. And this is due to several factors:

  • You won’t see drunk people on the streets here. 
  • The cameras are almost everywhere.
  • Severe punishments.

Much of the crime in the world is due to excessive drinking. And to buy alcohol, you need to get a special license. It is issued only to the people who do not profess Islam and have reached the age of 21. If you are a tourist your license will last you a month, and if you are a citizen – then a year (but only if the income is at least AED 3,000). At the same time, alcohol is not sold everywhere, but only in special places: hotels, restaurants, and bars. But keep in mind that not all hotels and restaurants in the UAE have permission to sell alcohol. Speaking about shops, alcohol is sold only in MMI, African + Eastern retail chains.

It is also very important that the cameras are located in many places. It helps to track crimes in three sectors: tourism, transport, and retail. It is considered quite normal to leave your phone, or wallet at a table in a cafe and go buy coffee. Also you can safely leave things on the beach to swim in the sea.

Since the United Arab Emirates pays special attention to security, it is attractive to wealthy people. Many of them consider this as a key point. You don’t need to worry about personal safety and the safety of your property, and real estate.

Work

Dubai is a cosmopolitan city. People from different countries work here. By the way, many employers provide housing, food and transportation to the place of work. Of course, the level of rented real estate will depend on the position of the employee.

But if you are a very good specialist, then you will find interesting offers from well-known companies. As for salaries, top managers, especially valuable employees, receive way more than in Europe, e.g., a typical sales manager has a salary of USD 3,000.

But many people who already work and live here advise you should not underestimate your capabilities. If you worked as a top manager in your home country or had your own business, then nothing prevents you from doing the same in the emirate. Moreover, starting your own business is quite simple.

In some countries, there is a rule: 51% of the company must be owned by a citizen of the country. No such rule exists in the UAE. And this greatly simplifies registration.

If you have quite decent capital, then considerable opportunities open up. But before opening a company, you need to decide on the industry in which you would like to gain a foothold by moving to the United Arab Emirates. Perhaps you are interested in something completely new to yourself. To do this, you need to study the niche, and evaluate your capabilities.

It is enough to know English. If you also speak Arabic, then it will be a bonus for hiring or opening your own business.

Taxes

Many people think Dubai is a real tax haven, as there are no taxes in the UAE. It is true, but with a few caveats. There are no taxes on personal income, business income, or salaries of employees and also no property rental tax in the emirate. All profits remain with you and no deductions need to be made. However, the list of caveats is as follows:

  • Recently introduced 5% VAT.
  • Registration of a company is renewed annually (approximately USD 5,000-6,000). The main road is tolled. When driving under the special SALIK toll gate, you must pay AED 4 (a little more than a dollar).
  • When paying for building maintenance services, property owners also pay special fees, which are already included in the mandatory fee.
  • In restaurants and hotels, 10% of the cost of services is included in the bill.

For permanent residence in the UAE, fees of AED 10 are also sometimes charged for the provision of various services. 

But all of the above is a drop in the ocean if you compare the amount of taxes in other countries. Most are not taxes, but small, veiled fees. Therefore, we can safely say that there are no taxes in the UAE. If you are a person who wants to open a company here, and become the owner of real estate, the conditions are almost ideal.

Opportunities, a good step for further development

The emirate’s favourable economic climate, good salaries, and virtually no taxation offer many opportunities. Local companies can afford to hire a person of the highest qualification. Well, it significantly increases the position of the company in the world market and suggests unlimited opportunities.

It is also important that having your own business already significantly increases your position. It shows the level and also guarantees the stability of the business. If you have worked in a company during some time, holding a good position, and at the same time you are an excellent specialist, almost all doors are open for you.

However, excellent opportunities are connected not only with business and work. Here, prices are quite affordable compared to Europe, e.g. furniture, and cars cost much less than in Europe. The cost of gasoline is several times lower in the emirate. Maintenance of the car and its insurance also cost much less.

And although you won’t find historical sights, it does not make it less attractive. Let’s look at the main attractions:

  • The best shopping malls in the world.
  • The world’s tallest buildings, towers.
  • Fountains that have no analogues.
  • Races, and horse races, are unforgettable shows with the world’s best stars.
  • Unique infrastructure.

The medicine is also excellent. The United Arab Emirates has state-of-the-art clinics where the service is at the highest level. They employ the best specialists from all over the world. A huge number of wellness and spa salons offer unique treatments.

The emirate has public and private universities that accept students from all over the world. The received diplomas of bachelors and masters are quoted all over the world. After all, education here is one of the best in the world.

Investments, real estate in Dubai

Dubai is a city not only without property rental tax, but also no annual property tax. When buying, you pay registration fees and that’s it. An investor in this country saves 30-70% compared to the costs of buying apartments in other countries. This provides an opportunity to earn more on investments in real estate.

In this scenario, it is very profitable to invest in the real estate sector. Especially if you compare the United Arab Emirates with many other countries. After all, if we consider the yield from real estate rental, we get 5-8% (depending on the area). This is a high percentage.

And do not worry that hard times will start at the property market, it will sag and in a short time, such an investment will become unprofitable. The city continues to grow and develop and plenty of buildings are being built in the city. Buying property in Dubai is a very profitable investment. And if you are planning a move, while having a certain amount of money, then it will be more profitable for you to immediately think about buying a property, and not look for rented apartment.

But the opinion that only luxury property is being built in the emirate is completely erroneous. The city is a place where you can buy housing that will suit every taste and budget. Yes, a lot of luxury real estate in fact costs from USD 1,000,000 and more. But even more housing in new areas has the price starting from USD 2,500 per sq m. With this money, you get an excellent view from the window of a skyscraper, underground parking, a gym, and a swimming pool. As for the footage, there are many options: from one-room studio apartments to huge cottages with dozens of bedrooms.

And do not listen to the fact that the most expensive real estate is located by the sea. Near the coast, there are areas with quite affordable prices. And also in the more distant and quiet areas and streets with houses with exorbitant price tags are located. It all depends on personal preference. After all, the car is a means of transportation. In 15-20 minutes you can be in any area.

It is also interesting that more and more artificial islands appear in the emirate. When studying the real estate market, we can conclude that investors prefer to buy housing here. Many are attracted by such an interesting location. And the range of prices can be quite wide here. 

Very clean city

Dubai is indeed a very clean city. This is noted not only by residents but also by tourists. The streets are constantly cleaned by Pakistanis, and Indians, who rub them to a shine.

As for residential buildings, cleaning is carried out here constantly. It is included in the mandatory payments. Everything is thoroughly washed and cleaned. The yards are very tidy. In the city, cleanliness is monitored very carefully and it is a huge plus. It is clean even on the beaches, because it is not customary to throw garbage, and cigarette butts in the wrong places. There are significant penalties for this, e.g., for a thrown cigarette butt, or spitting on the sidewalk, a municipality inspector can be fined AED 500 (about USD 126). In case of repeated violations, the fine is first doubled and then tripled. As you can see, the amount is impressive.

As a disadvantage, many note the lack of wildlife. But in the emirate, a huge number of artificially planted parks, and gardens is located, which is a breathtaking sight. They are closely monitored. The parks are always clean. Such places allow you not to notice the absence of wildlife.

Weather, sea

This city has one major drawback – a very hot summer. At this time, the temperature rises to +45C, and sometimes even higher. If you also take into account the high humidity, then you understand it is almost impossible to be outside.

However, all this is smoothed out by the fact that powerful air conditioners are installed everywhere. Driving in the car, on public transport, being in the office, or shopping center – everywhere there is a pleasant coolness. In some shopping centers, it is even advisable to dress warmly, as you can freeze. Therefore, the heat in the United Arab Emirates is not terrible. Some people just leave the country and return in August. 

But the hot season lasts only three months. And the remaining nine months the city turns into a paradise, e.g., in January, the average daytime temperature is +24C. The water temperature does not fall below +20C (in summer about +35C). But precipitation is rare and they usually happen in February-March. There are sometimes sandstorms in the summer.

The sea is very warm and clean. Tourists sunbathe and swim all year round (locals still refrain from doing so in winter, the best time is autumn, and spring). If you have chosen Dubai as a permanent residence, you will see the sea all year round.

Real estate agency in Dubai

As you can see, there are a lot of advantages to living in the country. Therefore, it is not surprising people from many countries of the world move here. You can see the best offers of real estate in Dubai by visiting Ax Capital agency website. Here you will find options to suit every taste and the specialists are always happy to help with the choice.

 

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