For all real estate enthusiasts and business personnel, Dubai is the best place which is not only known for its architecture and beautiful buildings but also historical and cultural significance. Being a central spot in the globe, it has attracted tourists from both East and West. The worth of this city is not only limited to tourists but also a wide range of global investors are interested in making a living here. The prices of residential property have thus increased and escalated at a significant rate over few decades.
Ownership of Property is Easy
Although there are different reasons behind the increase in real estate market prices in Dubai, some are more prominent than others. The most primary reasons behind increases in price are the ease of property laws. In Dubai, it is legal and easy for any foreign property owner to lease a property whenever and whatever they desire. Apart from this, the specific locations in Dubai also offer commercial and residential property on residence visa which can be easily renewed in easily in three years duration. For further details , get in touch with the client advisory at LuxuryProperty.com
Corporate Hub and Business Centre
There are also several other reasons behind the substantial increase in property rates all over Dubai. One of them is the city being a corporate hub and home to all of the significant offices, multinational companies and global entrepreneurship ventures. Due to ease of technological advancement, a flexible array of options and a wide availability of cheap labor, many a great businesses are attracted to Dubai. A great number of firms have begun and started their operations in the city. Due to the variety of businesses available, people have migrated to this place from all over the world and thus increasing the population of Dubai substantially. The rise in population always increases the demand of real estate property due to the demand and supply effect. The commercial and residential properties have experienced a substantial boost in demand as well as price due to increased businesses.
Leisure and Lax on Property Taxation
Another strong reason which makes Dubai the most sought after location is the leisure in taxation. As compared to any other developed and global city around the world, Dubai is the most lax and lenient when it comes to the value of commercial and residential property taxes.
Strong Infrastructure and Quality of Living
Last but not the least, living in Dubai is a really great experience. With strong manpower and human resources, technological advancement, ease and convenience of infrastructure, availability of everything around makes life in this city very high in demand. The city is not only extremely good to live but also a fantastic place for tourism and travelling. Moreover, unlike other developed countries and cities, Dubai is constantly growing and evolving at a constant rate. The social, technological and economic evolution in Dubai has evolved the city in one of the most sought after locations in the whole world.
With all the facilities of a developed city, Dubai also is much cheaper to live in as compared to other countries. It offers quality amenities at a very affordable rate which makes it possible for even working class to stabilize a life in this city. This is why a lot of people from poor as well as rich countries are attracted to this destination and create a new life for them here.
Due to these reasons, it has become a dream destination for real estate, construction companies and builders. The housing businesses from all over the world are attracted to this city and have created state of the art projects that cannot be found anywhere else. Due to market competition, every project offers something greater, more modern and better than the previous one. This only contributes to the improvement in overall quality of life in Dubai and makes it a more attractive place for the investor to live and spend in.