Land for sale in Dubai? Here’s why you should buy
As of June 2016, Dubai Government passed a decree allowing non-UAE nationals the right to absolute ownership of freehold plots in Dubai South.1As markets open up and ownership processes are streamlined and simplified, land is becoming increasingly available to all; and in developing cities like Dubai, you can have your pick of plots, even in prime locations.
Investing in land is emerging as an increasingly attractive alternative to buying property, especially and with Dubai’s tax-free, buyer-friendly and freehold policies. Freehold plots for purchase can be found in areas such as Dubai South, Pearl Jumeirah, Business Bay and Jumeirah Village South. While it’s challenging to find plots in prime areas, developers are offering them in other areas such as master developments like AKOYA. Keep in mind that prices will vary depending on the area.
Here are just a few more compelling reasons to invest in Dubai plots:
Land is a secure, tangible investment
Stocks, bonds and shares are prone to market fluctuations. Built-up houses and apartments are susceptible to wear and tear. But land? Land is virtually everlasting. Your stocks may vanish right in front of your eyes, but you can actually hold, touch, feel, and walk proudly on your land. Not only is land a tangible asset, but in terms of financial security, there’s no better bet – given a growing market like Dubai, the value of land is always on the rise.
It's a 'hands-off' investment
Just thinking of tenants, bills, maintenance and a many other things that come with built property is bound to make investors nervous. With a plot, you can make that one-time investment, sit back and relax. As a land owner, your involvement with the plot can be a one-time affair and hassle-free.
Land can be inexpensive in the long-term
Land can be easier on the pocket than built-up properties. Not only does it cost less to begin with, but once purchased, you don’t have many additional expenses like utilities, mortgages, taxes and maintenance to shell out on. From a long-term perspective, investing in land is an extremely lucrative and easy investment option.
Increase your land value in the future
Dubbed one of the fastest growing economies in the world, Dubai is a haven for investors looking at long-term financial gains. In spite of economic fluctuations, properties like AKOYA are spearheading Dubai’s property market. According to a recent report by JLL and Dubizzle, in 2017 Dubai property prices and rentals are expected to rise provided that supply remains regulated.2When land is the biggest asset in a developing city, the future holds a host of possibilities for sharp spikes in value.
Be your own boss
Land may be limited, but the gains you stand to make are practically unlimited, especially when you’re the master of your own plot. Once you’ve purchased land, you’re free to develop it as and when you please. Whether you plan to live there in the long term, resell it, or build a house to rent or sell, you can make the most of your own preferences and be your own builder.
So, if you’re looking for somewhere to simply park your money, and watch it grow over the years with zero involvement, then investing in land is definitely the way to go!
Sources: 1: Khaleej Times; 2: Zawya