Best value for your money: 4 reasons to buy a luxury home in Dubai

Tue, 2020-12-29 17:32

Are you looking for a new home? Would you want to consider seeing the sunset in this part of the globe? Is Dubai a place that you would like to build your nest in?

If you’re looking at property and luxury homes for sale in Dubai, then this is the time to buy. At DAMAC Properties, we have listed down five salient reasons why you should take the plunge and start enjoying living the luxurious life now.

Rewarding residences 

Dubai is one of the most beautiful places in the world to settle in. Aside from the beauty of its natural landscape, you can also feast your eyes on numerous human-made marvels that have earned a place in the world’s best lists.

Living in the City of Gold also offers you a wide assortment of pleasures. 

It’s a melting pot of international cuisine, art, culture, fashion, technology, and many other attractions and features. There seems to be something for everyone in Dubai. That’s why many high net worth individuals and families have decided to live in this jewel in the Arabian Sea.

If you’re in the market for a home but still somehow on the fence about it, then here are some excellent reasons why you should invest in real estate properties such as apartments, condominium units, townhouses, private villas for sale in Dubai now:

1. Best value for investors

Investing in real estate is made more attractive to investors in several ways. 

For one, the UAE government has introduced long-term visas for real-estate investors. This new system gives additional advantages to potential investors, such as foreigners’ ability to study, work, or live in Dubai without a national sponsor.

International investors, local Emiratis, expatriates, and others looking into the real estate scene are drawn to Dubai also because the city offers incredible value for money even for luxury property. 

While the Dubai lifestyle is seen to be on the lavish side, a 2019 Knight Frank wealth report reveals that purchasing a luxury property in Dubai can be made at astonishingly affordable prices.

For example, your $1 million can get you twice as much prime property in Dubai compared to properties offered in Hong Kong, Monaco, Paris, or Shanghai. This affordability does not mean that Dubai properties are substandard, however.

For example, DAMAC Properties takes pride in offering superlative property developments that combine world-class design and excellent craftsmanship. 

We also have an unparalleled and diverse portfolio of master-planned communities and iconic commercial, residential, and leisure properties across Dubai and beyond.

2. Robust real estate conditions

Despite the pandemic affecting the general atmosphere, the real estate market is seen to bounce back on a slow but steady curve. For example, certain prime areas such as District One, Jumeirah Bay, and Palm Jumeirah have seen a six per cent rise in their respective average price per square foot compared to the same period last year.

The UAE Central Bank has cut down interest rates, and mortgage rates have also dropped to 3.7 per cent in September 2020. These favourable financing numbers also make it compelling for investors and occupiers to take advantage of such conditions.

Alongside the government’s efforts and stimulus package, developers like DAMAC have also begun to offer favourable payment plans to attract demand. Simultaneously, lower payment rates, waiving or transaction fees, and service charge exemptions are also provided during construction and completion.

3. Smooth transactions

Buying luxury real estate in Dubai is relatively easy. Aside from being a dynamic business hub, Dubai also offers investor-friendly laws and tax systems. The absence of additional levies on property purchases and the capital and income tax-free system gives foreign real estate investors significant benefits.

The Real Estate Self Translation (REST) SMART portal launched by the Dubai Land Department (DLD) also makes it easier to facilitate buying, renting, and selling property. This mobile app helps reduce the inconvenience and time spent on these property proceedings.

DAMAC has also started leveraging technology to make it easier to invest in real estate property in Dubai. Virtual reality and digital apps have made it possible to conduct business without having to visit our offices physically. Bookings, service charge payments, property transfers, or viewings can all be made through our digital application.

4. Wide selection of property options

What makes it more enticing for those who want to buy property in Dubai is the wealth of options. This gives them more leeway regarding the type of residence, property location, amenities, or payment terms.

For instance, DAMAC has a diverse portfolio of iconic commercial, residential, and leisure properties designed to cater to the varied tastes of its market. There are master-planned communities, world-class residences, and top-notch hospitality destinations. 

We have ready-to-move-in apartments, luxury villas, and hotel complexes that offer only the best of what life in Dubai has to offer.

Our wide selection of properties gives you more freedom to choose the lifestyle that you want to lead.

Prime properties 

When you want to live in Dubai, this is the best time to invest in real estate property. 

Turn your dream of living a comfortable and relaxing lifestyle into reality by choosing a home that is superbly designed, masterfully built, and professionally managed by one of the world’s most reputable real estate developers.

 

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