If you are looking to invest in real estate with incredible returns and incentives for buyers, Sharjah and Dubai in UAE are best options. In line with being two of the most visited countries in the world, the Dubai Chamber of Commerce has predicted that the cities’ tourism and travel sector will reach more than $ 56 billion in 2022, which makes it an investment climate ideal for you to take advantage of.
Here, Ajmal Makan, dealing in property for sale in Sharjah and Dubai, presents some of the main reasons why you should consider UAE when it comes to investing in the region’s real estate market.
UAE GDP Per Capita
It is projected to grow 3.8% in 2020, the economy of Sharjah and Dubai is booming. It will be higher than the overall 3.6% growth that has been forecast.
Sharjah and Dubai are two of the main destinations in the world visited more frequently. These cities are a melting pot of different nationalities. With Expo 2020 happening soon in Dubai, there will be a greater influx of tourists looking for short-term rentals and holiday homes.
While the global average ROI for real estate investment is between 2% and 4%, Sharjah and Dubai offer the highest average return of 7% to 8%.
Long-Term Investment Visa
Dubai and Sharjah offer residence visas on residential property worth AED 1 million, as well as 5 – 10 years of Golden Visa residence. This helps expatriates move to UAE’s main cities to live, work and study without requiring a national sponsor and 100% ownership of their business.
Zero Income Tax
One of the main advantages of living in the UAE is the zero income tax. Skilled expats from around the world take the opportunity to increase their wealth without worrying about tax cuts. If you are a tax resident in the emirate and have no other obligation with any other state or country of income tax earned abroad, then you can earn your 100% tax-free salary.
And with 0% capital gains, residence visa options and high capital appreciation and rental yields, it’s easy to see why it is so popular among investors.
The UAE currency Dirham is stable and linked to the US dollar, which helps balance the value of the currency, economic growth and stability in imports, exports, real estate markets and commerce.
As thousands of new businesses and professionals are discovering each year, Dubai is the perfect gateway between East and West. Its centralized time zone combines East and West business hours and its strategic positioning makes it a great international business center.
Connecting products from the East and the West, its import and export market is one of the most lucrative in the world. It is also home to summits, conferences and periodic exhibitions that bring together business leaders from around the world.
When it comes to lifestyle, both Sharjah and Dubai are the wonderlands. More than two hundred nationalities are represented, which makes it an attractive multicultural and social environment.
Whether you like top-notch stores and entertainment facilities, or the sun throughout the year and outdoor activities, there are many attractions and experiences to ensure there is something for everyone to enjoy.
Taking the Next Step
If you would like more information about buying properties in Sharjah and Dubai, contact one of our agents today to discuss your options.
As a trusted real estate company Ajmal Makan deals in the Sharjah waterfront city projects as well, whether you are looking for a home for your family or want to expand your property portfolio, our expert advisors are dedicated to helping you with every step of your real estate trip.