Dubai’s property market continues to experience rapid growth and there is no sign of it slowing down anytime soon. Not only does this growth include townhouses as well as apartments, but it also includes villas for sale in Dubai which are also on the rise. Here is why purchasing a villa is a safer investment:
1: No Purchase Taxes or Annual Taxes
The UAE does not impose taxes on companies and individuals residing within the UAE and this also applies to property tax as well as annual taxes on your home. Therefore, once you have purchased your new home and have paid the necessary fees, there is no applied tax to be paid on your home itself. But, there is indeed a housing fee as well as a waste collection tax. In the grade scheme of things, these small payments are definitely less than annual property taxes.
2: Countless Possibilities
Dubai’s real estate market offers many choices when you’re looking to make a purchase. Villas for sale in Dubai range from high-end options to budget-friendly choices. Villanova Dubai properties, for example, specializes in not only townhouses but three to five bedroom villas which have been completed with a Spanish flair for added appeal. Villanova Dubai properties also offer a range of amenities from playground areas to sporting facilities and much more, but, with many other developers to choose from, your decision mainly boils down to your preference.
3: Dubai Is The Land Of Innovation
When it comes to innovation and improvement, this city is known for constantly producing mind blowing projects such as Ain Dubai at Bluewaters Residences, Dubai Creek Tower at Dubai Creek Harbour. This is therefore very advantageous when you’re looking to make an investment, due to the fact that you would rather make a purchase in a city that is actively (and successful) creating endeavours which bring millions of tourists into the city every year rather than a city which is stagnant. With the world’s largest building and the world’s biggest mall located within this city amongst many other architectural wonders, no other city comes close to the amount of innovation present within this hub.
4: Continuous Economic Growth
Another important factor when making an investment is to consider the financial growth of that city. After all, you’re not just investing in a property, you are investing in the entire city and with a city that thrives on development, you would feel safe investing your hard earned money.
5: High Return On Your Investment
Despite the fact that in recent times there has been a decline in the average rental price, your property would still produce a high return in comparison to other top-tier cities, such as London and Sydney. Certain neighbourhoods have the ability to return an average rental yield of around a staggering 9.2%! This is great when compared to New York, which has a yield of only 3.91%.
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