What Should Those Looking to Buy Property in Dubai Know?

Owning a property in Dubai is not just an investment in real estate but also an opportunity to live in a city with a high quality of life. The property ownership rights, tax advantages, and investor visas available to foreigners make Dubai an attractive place to live and invest. If you’re considering a long-term investment, Dubai’s real estate market offers significant opportunities.

Foreigners’ Property Ownership Opportunities

Foreigners can purchase property in Dubai in freehold areas. In these areas, foreigners can own their properties with 100% ownership, and they can rent or sell them. Prestigious and popular freehold areas in Dubai include Palm Jumeirah, Dubai Marina, Downtown Dubai, and Jumeirah Village Circle.

Tax Advantages

One of the greatest advantages of owning property in Dubai is that real estate income and capital gains are not taxed. The absence of income tax in Dubai ensures that rental income or profits from property sales are fully retained by the property owner. This feature makes Dubai much more attractive compared to other major cities worldwide.

Investor Visas

Foreign investors purchasing property in Dubai can obtain investor visas for certain property values. For example, investors purchasing property worth 750,000 AED or more can obtain a 3 to 5-year residency visa for themselves and their families. This visa is valid as long as the investor owns the property, allowing them to reside in Dubai long-term.

Rental Yields and Investment Potential

Buying property in Dubai offers high rental yield potential. Rental yields in various areas of the city can range between 6-8%, which is relatively high compared to other major global metropolises. Properties located in tourist areas can also offer higher income potential through short-term rentals