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Why Invest In Dubai ?
Dubai is a lucrative destination for investment for a number of reasons. Its world-class infrastructure coupled with a safe living and a facilitated business environment makes it an ideal place to live and work. Dubai is ranked first in global population and employment growth [National Statistics Office] with an annual GDP growth in Dubai averaging 14% per year over the last 30 years [IMP], making the demand for Dubai real estate even more viable.
The fact is that Dubai has witnessed 13% growth year-on-year since 2000. That makes for a higher growth rate than both India and China, presently the two most powerful developing countries in the world.
Overseas property investment in Dubai has skyrocketed since May 2002, when it was made legal for foreign nationals to own property within the emirate. Since this time, over 100, 000 British nationals have purchased property in Dubai, and this investment property boom is helping to fuel Dubai's rapid financial and economic growth. If you're hoping to create or expand your investment property portfolio in Dubai, you'll find that the range of property on offer is vast. When you buy property in Dubai, there are no legal fees required (although advice is recommended) and you won't incur any capital gains tax or income tax on your investment property.
Since the freehold in Dubai was relaxed allowing foreigners to purchase property in Dubai there has been an unprecedented real estate explosion. Dubai is rapidly becoming the obvious choice for overseas investors, especially as in most cases purchasing a property in Dubai enables you to apply for a residency visa.
Although Dubai properties have attracted investment from an astounding number of overseas property buyers over the last few years with some making stunning short term gains, most of the major attractions are still under construction, meaning this property hot spot still offers a sound investment opportunity in the medium term and longer term.
All this coupled with zero property and income tax and an unmatched standard of living, it is no surprise that Dubai is the labelled as The City Of The 21st Century.