Advantages of Dubai’s Real Estate Market

Dubai’s real estate market possesses several characteristics that make it highly appealing to investors. Firstly, prices are relatively affordable compared to other major cities like Paris, London, or New York.

The average price per square meter in Dubai is 10,000 AED (approximately 2,300 euros), compared to 15,000 AED (approximately 3,500 euros) in Paris, 25,000 AED (approximately 5,800 euros) in London, and 35,000 AED (approximately 8,100 euros) in New York.

Additionally, Dubai’s real estate market is highly performant, thanks to strong demand and diversified supply. In 2023, the emirate recorded over 76,000 real estate transactions, totaling 283 billion AED (approximately 70 billion euros), according to the Dubai Land Department. Demand encompasses both apartments and villas, new and old properties, residential and commercial units. The supply is constantly evolving with innovative and ambitious construction projects, such as a complex of artificial islands north of the city.

Finally, Dubai’s real estate market benefits from favorable taxation, promoting investment profitability. There is no double taxation for French real estate investors conducting business locally. This means they do not pay taxes on rental income, capital gains upon resale, or property tax in Dubai. Moreover, they can avail themselves of financing facilities with attractive interest rates and loan durations of up to 25 years.

Most Sought-After Neighborhoods for Investment in Dubai

Dubai offers a wide variety of neighborhoods catering to different investor needs and desires. Here are some of the most sought-after neighborhoods for investment:

• Downtown Dubai: It is the heart of the city, home to the iconic Burj Khalifa, the world’s tallest skyscraper. This neighborhood offers luxury apartments with stunning views of Dubai’s skyline. It also provides numerous amenities such as the Dubai Mall, the world’s largest shopping center, and the Dubai Fountain, the world’s largest fountain show.
• Palm Jumeirah: One of the three artificial palm-shaped islands that contribute to Dubai’s fame. This neighborhood offers prestigious villas and apartments with direct access to the beach and sea. It also offers an exceptional living environment with hotels, restaurants, spas, and water parks.
• Dubai Marina: One of the liveliest and most modern neighborhoods in Dubai. This area offers high-end apartments with panoramic views of the marina and the Persian Gulf. It also offers a vibrant nightlife with bars, clubs, cafes, and shops.
• Business Bay: Dubai’s business district, home to offices, banks, companies, and institutions.
• This neighborhood offers apartments and studios with proximity to downtown and public transportation. It also provides a conducive work environment with green spaces, canals, and bridges.

Steps to Invest in Dubai

Investing in Dubai is not complicated, provided certain steps are followed and competent professionals are engaged. Here are the main steps to invest in Dubai:

• Researching Dubai’s real estate market, its trends, opportunities, and risks. It is advisable to consult a specialized website like ours, www.shiiraz.com, which provides updated and relevant information on real estate in Dubai.
• Choosing the type of property, neighborhood, budget, and financing method suitable for one’s project. It is recommended to enlist the services of a French-speaking real estate agency like ours, Aranax Real Estate, which offers advisory, research, negotiation, and property management services in Dubai.
• Signing the sales contract, which must be drafted in English and Arabic and include the price, payment terms, delivery deadlines, and warranties. It is necessary to have a valid passport, resident or tourist visa, and a bank certificate confirming the source of funds.
• Registering the property with the Dubai Land Department, the competent authority for land registry and property ownership in Dubai. This requires payment of registration fees, which amount to 4% of the property price, as well as administrative fees, which vary depending on the type of property.

In conclusion, real estate investment in Dubai is an opportunity to seize, offering numerous advantages both financially and in terms of quality of life. To succeed in one’s project, it is sufficient to research, choose, and surround oneself with the right partners. Don’t wait any longer and embark on the adventure of real estate in Dubai!

Shiraz, CEO, Founder of Aranax Real Estate 🇦🇪

Phone: +971545342828

[email protected]

Best regards,