Dubai - The First Choice for Second Homes
News 23 Nov 21, 12:0 pm
It is a host of factors such as the quality of living, easy access to global business destinations, and lower rental yields that has transformed the cosmopolitan city of Dubai into a highly sought-after destination for individuals with a high net worth to purchase their second homes.
The transparency and regulatory compliance measures supporting Dubai’s real estate, along with regulated supply since the COVID-19 pandemic have provided further reassurance to the second home owners.
A cut above the rest in terms of diversity, infrastructure and stability, Dubai proudly hosted the Expo 2020.
Following are a few important factors that make Dubai a highly sought-after choice for second homes.
A proactive government
Among Dubai's major highlights has been the proactive decision-making capacity of the highly capable authorities who leave no stone unturned in their efforts to make the destination an extremely sought-after place for ambitious investors.
Dubai is one of the major countries that managed to cope up with the highly uncertain post-pandemic scenario. Thanks to the overwhelming efforts of the government, 80% of the public was successfully vaccinated by 2021. So much so that business activity is soon approaching the pre-pandemic levels. Despite the pandemic, the country managed to retain its tag as the safest travel destination.
Investor-friendly policies
Some of the recently announced policies have resulted in increased entrepreneurial and investment activities in Dubai. The much-popular Golden Visa has been successful in seizing the interest of reputed business magnets who aspire for UAE residency. Along with it, Dubai has also granted permission for 100% ownership without the need for a local partner. These policies have had a positive impact on rental property market.
High Rental Yields
The real estate market of Dubai is strictly regulated and offers immense protection to its investors. It offers a rental yield of 6-10% that is unheard of even in the most mature markets. It is true that with 1 million USD in hand you can buy significantly more real estate space in Dubai than in most cosmopolitan cities like Mumbai, Shanghai, London, Singapore, and Monaco. The increase in demand is likely to keep the property prices on an upward trajectory for the foreseeable future.
Exceptional living standards
Dubai is not merely about malls and skyscrapers. It brings to the fore a truly sumptuous lifestyle. From diving, snowboarding, biking, windsurfing, there is no dearth of entertainment in the city of dreams.
Excellent Infrastructure
Dubai is a world-class business hub that brings to the fore all the facilities you need. The government has introduced free zones that serve as hubs for Jebel Ali and Media City businesses to attract foreign entrepreneurs.
Apart from these aforementioned factors, there are plenty of other points that underline Dubai’s worth as an investor-friendly destination. So, if you are planning to invest in a second home, let Dubai be your first choice.