Dubai is hosting the next World Expo in October 2020. The Expo will attract approximately 25 million visitors from 180 nations. The announcement of the Expo in Dubai has boosted the off-plan property sector. Investors who are buying property near the Expo will receive a high return on investment. The Expo’s duration is six months and millions of visitors will need to rent property. The rental demand will be high, enabling landlords the flexibility to increase rents.
Dubai seeks to become happiest city in the world Dubai created the Ministry of Happiness in 2016. The primary duty of this ministry is to develop programs and policies to improve the happiness levels of Dubai’s residents.
High return on investment
Dubai’s real estate market is maturing as the city’s population is increasing each year. Investors aware of the growing demographic are wisely purchasing property to supply the boost in rent demand.
Dubai’s tourism industry is booming
Dubai’s economy incorporates tourism, trade, business services and other industries. The construction of new hotels and real estate projects is a direct result of Dubai’s growing tourism industry.
Low crime rate
The sense of safety is a major advantage of buying property in Dubai.
Minor crimes are also unlikely. Do not worry if you accidently leave your wallet visible in your car. It is highly unlikely to be stolen.
No annual property taxes
Investing in Dubai’s real estate market is tax-free. Purchasing a commercial or residential property will not include taxes. Once the property is purchased, owners will not be obliged to pay additional taxes in the future.