The UAE real estate market is developing rapidly. Dubai showed the highest growth rates last year. The Dubai Land Department registered 84,196 transactions for $81.86 billion last year. The volume of transactions increased by 66.3% compared to 2020. This indicates an increased demand among investors who are interested in various foreign real estate. In many ways, the demand depends on the location of the housing. Palm Jumeirah, Dubai Marina, Business Bay in Dubai, and Downtown Dubai are leading in the ranking, but this is not a complete list of communities with investment-profitable real estate in Dubai. Let’s consider which communities are profitable to invest in 2022.
What areas do real estate agencies in Dubai offer to purchase?
The top five communities are as follows:
- Dubai Marina is a coastal area popular with tourists. The country’s largest developer, Emaar Properties, is engaged in construction. There are more than 200 skyscrapers with the housing of different price segments.
- Palm Jumeirah is a legendary man-made island associated with luxury. Here you can find both flats and apartments, as well as gated villages with premium villas and houses.
- Business Bay is an area with views of the Burj Khalifa Tower. It is a combination of residential and commercial real estate near the center of the emirate.
- Dubailand is a community with all kinds of entertainment, popular with tourists. Several dozen developers are building this largest holiday destination.
- Mohamed Bin Rashid City integrates comfortable apartments for family living, commercial real estate, and cultural facilities.
You can choose various options to buy either ready-made housing or off-plan properties for sale in Dubai. Detailed information about houses and apartments for sale in Dubai is available on the official website of AX Capital.
4 reasons to buy a property in Dubai
In addition to attractive climatic conditions and a stable economy, the country has some other advantages. The UAE authorities encourage foreign investment in Dubai’s housing. For ex-pats, property for sale in Dubai is also profitable:
- UAE citizens make up only one-third of the population in the emirate, so housing is always in high demand among tenants.
- Flats and apartments in the metropolis can bring from 4.5 to 8% profit annually, they have a high profitability ratio.
- Stable price growth capitalizes the cost and allows you to resell housing profitably. Off-plan projects in Dubai bring the highest profit.
- There are no income taxes. This makes it possible to rent a property and make a net profit.
What to consider when buying flats in Dubai
There are restrictions on the purchase of housing for foreigners in the country. Special freehold zones have been created for them, where they can dispose of property at their discretion like locals. Other areas have only long-term rentals. Nevertheless, this does not infringe on the rights of ex-pats, because the number of freehold zones has reached over 60, they include all popular areas with sought-after apartments, houses, and villas for sale in Dubai.