Dubai, especially in the last couple of years, has been a top-rated holiday destination. The city of the highest building in the world offers you not only beautiful views but also the chance to experience a multicultural environment that connects the old and the new. However, Dubai attracts not only tourists but also a large number of foreign investors. When you look at the real estate market there, you will see that it is one of the strongest in the world.
Economy and Tax
Why is that? Well, the first thing that investors look at when they are considering locating their money is the state of the economy. And the economy in Dubai has had an impressive growth in the last couple of years. Another significant factor is that there is no property tax in the United Arab Emirates.
Also, you will find a large variety of properties, that you can choose from according to your budget – starting from small downtown condos to luxury mansions in the best neighbourhoods.
Dubai Real Estate Great for Britons
Dubai property investment is especially financially rewarding for people from the UK. Just look at the exchange rates, especially dirham currency. After you convert dirham to pounds, you will notice that 1 pound is almost 5 dirhams.
Prices of properties start from around 300.000 dirhams for a one-bedroom studio — an apartment of a similar standard in the UK costs around £70.000. After you convert pounds to dirhams, you will get around 350.000 dirhams. And that doesn’t include the property tax that in the UK is compulsory.
That’s just one example, but the truth is that investing in dubai dirhams instead of pounds is much more profitable – just check the dirham exchange rate, if you need convincing. And if you want to learn more about different types of investment and how you can invest to make money, check out the infographic below.
Interesting related article: “Dubai has become a major Middle East venue for myriad events.”