Global investors eye on Dubai properties
The market of Dubai properties has seen a boost in the last five years being a major investment arena for investors worldwide. The bright future of Dubai properties equally attracts commercial companies and individuals from abroad giving rise to speculation that the supply of in Dubai would exceed demand in near future. In the present scenario, there is an increasing demand for Dubai properties and thereby soaring of property prices. In view of scrum of investors on Dubai properties, the government has made buying of property in Dubai very simple and hassle free. Property in Dubai requires no national registration. All you have to do is to pay some amount as booking or reservation deposit for the property. Then, you can pay the remaining amount on installment basis spread over the construction period. Dubai properties are generally financed to non-UAE residents only on certain ventures. The interest rates of Dubai properties range between 6 to 9 percent with the usual term of 15 years. As to non-UAE transactions of Dubai properties, one can even obtain freehold rights.
There are several factors which make investment on Dubai properties a lucrative business. Firstly, the capital gains tax and rental income tax are 0 percent in Dubai. Secondly, the demand-supply ratio is carefully monitored and controlled by the government in order to ensure strong growth rate and returns of Dubai properties. The investment prospect of Dubai properties is further accentuated by the last year’s growth of 26 percent nominal GDP in UAE economy. Moreover, although legal advice is required to purchase Dubai properties, there is no fee to be paid for the same. No property tax is levied on Dubai properties but you have to pay land registration tax to the government on completion of the project involved. This amounts to 1.5 to 2 percent of property price. However, if the contract is resold before completion, a transfer fee ranging between 1 to 7 percent is paid to the developer. To add to the benefits of purchasing property in Dubai, the government provides resident visas on non-UAE investments.
Adding luster to the bright future of Dubai properties is the mortgage market financing Dubai properties which has developed quite rapidly over the last few years. The emergence of HSBC as an international mortgage provider for Dubai properties has changed the scenario of Dubai real estate for ever after. The mortgage rates offered by the bank on property in Dubai are highly competitive and flexible.
In 2002, His Highness Sheikh Mohammed bin Rashid Al Maktoum, with a vision to transform Dubai into a global city, had decided to encourage international investors towards purchasing Dubai properties, offering top end supreme service and facilities to the global investors.
For more information visit Dubai properties
Processing your request, Please wait....
