New Buildings in Dubai: Property for Your Investment
It is no coincidence that the real estate in Dubai attracts foreign investors from all over the world - the neutral policy of the authorities, the stability of the dirham against the dollar for 20 years, and the high profitability of residential properties. Such conditions allow you to protect funds from inflation and increase capital. Last year, foreigners who wanted to buy premium property in Dubai, UAE, grew by almost 80% compared to 2021, and even more interest is expected in 2023. Most investors prefer new buildings in Dubai.
Advantages of buying property in a new building in Dubai
Buying property from a developer in Dubai becomes a profitable investment. Most investors prefer to buy real estate in Dubai during the construction phase. This is due to the following factors:
- Low cost of housing in new projects in Dubai. Compared to commissioned facilities, the price can be 40% lower.
- Market dynamism and enthusiasm. The cost of the apartment increases in proportion to the term of delivery. Even before the completion of the construction, the investor can resell the property for 20-25% more.
- High profitability. Ready housing in a new building is in high demand, and the owner can quickly sell it and increase the investment.
- Installment. When buying apartments in Dubai during construction, a foreign investor does not have to pay the entire amount. The first installment at the stage of excavation is up to 10%.
- Wide choose. A buyer of housing in a new building in Dubai in 2023 can choose from hundreds of options for apartments with a convenient layout and choose the preferred view from the window.
Other advantages of buying a home in off-plan projects in Dubai include the absence of income tax and the possibility of obtaining a resident visa. Real estate can be paid in any convenient way. Transactions in the country are confidential. Information about the purchase is not sent to the country of which the foreign investor has citizenship.
The most promising areas
In 2022, Dubai broke the absolute record of the last 10 years regarding the number of facilities put into operation - 37,000. The pace of construction is increasing, so the numbers in the next few years will not be less. When choosing real estate in Dubai under construction in 2023 for investment, it should be noted that not all areas can receive a large income. Here is a list of the most promising communities.
Elite area in the southeast of the emirate. It attracts investors with its developed infrastructure, breathtaking views of the Persian Gulf from a height, and a wide selection of real estate. There will be more than 30 new projects in this area of Dubai in 2023, with a yield of more than 5 percent per year. The most interesting of them are Stella Maris, Cavalli Tower, and One JBR.
The business center of the emirate on the shore of the bay occupies a leading position in the field of foreign investment. Business Bay has many offices of international companies, banking institutions, and shopping malls, ensuring a high housing demand among expats. The best new buildings in this area of Dubai are Opus, Da Vinci Tower, Sterling, and others.
Emaar Beach Front
The promising area is adjacent to Dubai Marina. The largest port will be located here, with all the necessary infrastructure and more than 20 skyscrapers. Today, active construction work is underway. Among the most interesting projects in 2023 in this area of the emirate of Dubai, Sunrise Bay, Marina Vista, and Beach Island are worth highlighting.
The micro-district, which is close to completion, is the project of Dubai Properties, the largest developer in Dubai, in which investments are growing yearly. The developer combined dozens of attractions in one area to attract even more tourists to the Emirates. Real estate is represented mainly by townhouses and villas in Dubai. Arabian Ranches, Mudon Al Ranim, and Damac Akoya Oxygen are the most promising communities.
What is the most profitable way to make money in real estate?
From the convenience point of view, long-term apartment rental in Dubai is better, but its profitability is not the highest. When renting housing for 1 year, earnings are unlikely to exceed 7% per annum. There are also benefits - the owner does not need to regularly deal with the paperwork and acquire a license. In addition, income, in this case, is more stable.
What type of rental to choose so that a unit in Dubai brings maximum profit? It is enough to look at the profitability indicators from a short-term contract - the homeowner will earn up to 10% per annum. If you buy property in Dubai in one of the coastal areas, it is possible to earn even more.
Looking for promising investment projects in Dubai? Contact Ax Capital, real estate agency in Dubai. Experts from https://www.axcapital.ae/ work directly with trusted developers and select the most profitable object. Other advantages include remote showing, full support of the transaction by lawyers, and assistance with solving all bureaucratic issues, including sale registration and resident visa receipt.